Home Down Payment

[Mozenraath]

How do I account for down payment done for my apartment.
I took 50% loan and 50% from savings/checking. Issue I faced was that under Assets category there was no. of units were doubling or the price of the unit was not correct.

[ananthakumaran]

@ specifies the price of a single unit, in your case, I am assuming that is 24 Lakhs?

You can represent the purchase using a single transaction itself. There can be more than one debit/credit entries (postings). The total needs to balance to 0, there are no constrains on the number of postings.

2024/01/08 House
    Assets:House                                   1 APT @ 2400000 INR
    Liabilities:Loan                        -1200000 INR
    Assets:Checking                         -1200000 INR

[Mozenraath]

That worked ! Thanks a lot !

[Mozenraath]

Now I tried to model my actual payments with income from Euros. But Doctor is flagging following errors.

[ananthakumaran]

I haven't tested it, but I am assuming it might be because you are adding EUR, but trying to withdraw INR directly, which might be the cause. Could you try to do -5000 EUR @ 80 INR when you do the home purchase. If that doesn't work, let me know, I will check.

[Mozenraath]

This way it worked. Maintaining it in same currency. any reason why ledger didn't calculate the same with previous method?

[ananthakumaran]

In general, I think of accounts as physical jars. You put x into it and you can only take x out of it. If you try to pull y out of it (even if you have told the ledger how to convert x -> y), it will not do it, instead, your account will have negative y and x as balance. Paisa could be better here at highlighting this issue, but except the doctor page, other places will do the conversion and hide the problem from you.