Borrowing and Lending
Lending, calculating interest manually
0.41% interest per month (roughly equivalent to 5% APR), calculated manually:
2020-01-01 opening balances
assets:bank:checking 1000
equity:opening/closing balances
2020-01-01 lend to Trusty Tara
assets:bank:checking
assets:receivable:tt 100
2020-02-01 charge 5% interest
assets:receivable:tt 0.41 ; 100 x 0.41
revenues:interest:tt
2020-02-15 Tara payment
assets:receivable:tt -50
assets:bank:checking
2020-03-01 charge 5% interest
assets:receivable:tt 0.21 ; 50.41 x 0.41, rounded
revenues:interest:tt
2020-03-15 Tara payment
assets:receivable:tt -50
assets:bank:checking
Monthly balance sheet:
$ hledger bs -M
Balance Sheet 2020-01-31,,2020-03-31
|| 2020-01-31 2020-02-29 2020-03-31
======================++====================================
Assets ||
----------------------++------------------------------------
assets:bank:checking || 900.00 950.00 1000.00
assets:receivable:tt || 100.00 50.41 0.62
----------------------++------------------------------------
|| 1000.00 1000.41 1000.62
======================++====================================
Liabilities ||
----------------------++------------------------------------
----------------------++------------------------------------
||
======================++====================================
Net: || 1000.00 1000.41 1000.62
Lending, calculating interest with hledger-interest
Loan and payment transactions are in the main journal:
2020-01-01 opening balances
assets:bank:checking 1000.00
equity:opening/closing balances
2020-01-01 lend to Trusty Tara
assets:bank:checking
assets:receivable:tt 100 = 100
2020-02-15 Tara payment
assets:receivable:tt -50
assets:bank:checking
2020-03-15 Tara payment
assets:receivable:tt -50
assets:bank:checking
We use hledger-interest to add interest transactions, here 5% per year:
$ hledger-interest assets:receivable:tt --act --annual=0.05 -s revenues:interest:tt -t assets:receivable:tt
2020-01-01 lend to Trusty Tara
assets:bank:checking -100.00
assets:receivable:tt 100.00 = 100.00
2020-02-15 5% interest for 100.00 over 46 days
assets:receivable:tt 0.63
revenues:interest:tt -0.63
2020-02-15 Tara payment
assets:receivable:tt -50.00
assets:bank:checking 50.00
2020-03-15 5% interest for 50.63 over 29 days
assets:receivable:tt 0.20
revenues:interest:tt -0.20
2020-03-15 Tara payment
assets:receivable:tt -50.00
assets:bank:checking 50.00
It doesn't print the opening balance transaction for some reason. So we'll print that too, then get a monthly balance sheet:
$ (hledger print desc:opening; hledger-interest assets:receivable:tt --act --annual=0.05 -s revenues:interest:tt -t assets:receivable:tt) | hledger -f- bs -M
Balance Sheet 2020-01-31,,2020-03-31
|| 2020-01-31 2020-02-29 2020-03-31
======================++====================================
Assets ||
----------------------++------------------------------------
assets:bank:checking || 900.00 950.00 1000.00
assets:receivable:tt || 100.00 50.63 0.83
----------------------++------------------------------------
|| 1000.00 1000.63 1000.83
======================++====================================
Liabilities ||
----------------------++------------------------------------
----------------------++------------------------------------
||
======================++====================================
Net: || 1000.00 1000.63 1000.83