How To Record A Mortgage Payment In QuickBooks Online | QBO Tutorial | The Home Bookkeeper

How To Record A Mortgage Payment In QuickBooks Online | QBO Tutorial | The Home Bookkeeper
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[@thehomebookkeeper]

This was a video request. I hope you enjoy. Check my description for links and leave a comment if you have a video request 😊

[@mike2959]

As my wife looked at our P&L for our 40 “doors” of rentals. The bottom line dollar on the P&L. She said wow. Is that accurate? I said no, that doesn’t include the principal payments on the mortgages. She told me I need to get a CPA lol.

[@thehomebookkeeper]

You only need a CPA if you are filing taxes. If you are wanting to get deeper insights into your cash flows and monthly financials then I highly suggest getting a bookkeeper. You can visit www.edjconsultinggroup.com and fill out my free business assessment and schedule a consultation.

[@javintansalazar471]

I thought Escrow is a Receivable since the finance company holds the monies paid into to and then disburse for property taxes and home owners insurance

[@thehomebookkeeper]

it depends on if you are the finance company or not

[@ciarraschlutow355]

You are doing the Lords work!) Thank you.

[@thehomebookkeeper]

That’s so sweet. Thank you so much. Glad you found my video helpful

[@johnathangranger2768]

I am New to all this and a bit overwhelmed. Thank you so much for the video. Should i start with my frist mortgage payment to make this easy or can i start from last montths?

[@thehomebookkeeper]

If you are planning on recording and deducting full or parts of your mortgage then yes I would start at January or the first available mortgage payment in the current tax year. I offer personal one on one quickbooks online coaching if you need assistance doing so

[@johnathangranger2768]

@@thehomebookkeeper I have been struggling with mortgage account alone. I have been on the phone with qbo 3 days in a row. I will try they're customer support again tn. If that does work I will surely take you up on that offer. I really appreciate the reply!

[@thehomebookkeeper]

Quickbooks is an incredible platform but the quickbooks support is very tech support biased and not so knowledgeable on the actual accounting side of things which is why many struggle to get the answers they need. Here is the link to my coaching form for when you need it. www.edjconsultinggroup.com/homebookkeeper