Accounting for Mortgages with Principal and Interest

How do you make a mortgage payment in QuickBooks with Principal and Interest?

Track each mortgage payment by writing a check, and setting the breakdown inside it per principal, interest, and optionally private mortgage insurance or escrow.

Or, you can use the Loan Manager feature in QuickBooks.

The principal is going to pay down a liability account of the loan. The interest posts to an expense account. We explain more in the full QuickBooks for Landlords training guide, including how to be a hard money lender yourself and receive loan payments from others.

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