At present there are 2 categories that allow receipt and payment transactions - Bank Accounts and Cash Accounts.
I would like to see a third category possibly named “Lines of Credit” to cater for accounts such as Credit Cards, Overdrafts, Margin Loans, etc. The “Lines of Credit” control Account would then appear under liabilities in the Summary and Balance Sheet.
This could be done by only having one tab named Bank & Cash Accounts and then have the 3 options (Bank Account, Cash Account, Line of Credit) and one of these options would be selected when creating/editing these accounts. This way the account could be edited to switch between control accounts when necessary for reporting purposes - e.g. when overdraft is overdrawn select “Line of Credit” but when not overdrawn select “Bank Account”.
A loan account was requested by myself sometime ago. However it cannot be only another receipt/payment account. The basic issue is that should track many additional information, ie registry of the banks, amortization shedule, aging report, interests, guarantees on physical assets.
So you will not have it in a short time. I don’t think that @lubos is working on it and that is a priority for him.
Line of Credit accounts are Bank Accounts as they are accounts held with a financial institution.
This can already occur - under Settings > Chart of Accounts you can create a “Lines of Credit Control Account" and then re-allocate those Lines of Credit accounts to it.
This also can already occur once you have set up the “Lines of Credit Control Account"