could someone please confirm if my accounts are correct?
my home loan shows the amounts of principal, interest, and bank fees all separate.
on my bank account, i import transactions and the complete principal amount is deducted. i categorize this amount to liabilities and then manually transfer through a journal entry the interest amount to expenses-interest.
on my personal account, i purchased a product for myself but was refunded the full amount many months later. i cant offset the amount to expenses because i don’t want to setup imported transactions that happened almost a year ago. instead i created assets:refunds received.
am i on the right track?