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As a newbie I found it incredibly difficult to link a house to a mortgage and obtain the correct net worth.
When creating an asset like "house" or "car" be sure to input the opening balance as the EQUITY in that asset - not the value of the asset. (house is 200K but I only have 15K in equity.) The value/worth is obtained by the combination of the equity and loan balance. Perhaps this could be mentioned in the handbook/users guide within the below section. Asset An account to manage an asset that does not fit in one of the above types Thanks. |
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