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How to Record Mortgage Payments in Quickbooks Online
In this episode, Nick Baldo delves into managing mortgage payments using QuickBooks Online. He explains property-level balance sheets, handling changes in monthly payments, and using banking feeds for transactions. He discusses automation of bookkeeping, avoiding double counting, and accurate loan balance adjustments. Finally, he introduces resources for tracking mortgage payments and invites listeners to the Real Estate Accounting Bootcamp 2.0.
Enroll to Real Estate Accounting Bootcamp: http://bit.ly/reabcourse (Enter Code YOUTUBE50 for $50 off!)
End to End Podio Training: https://www.incomedigs.com/pcc
Check out our Podio Templates: https://bit.ly/3pE4DBt
Download our guide: https://www.incomedigs.com/qbosetupguide
Mortgage Payments can get complicated. We have interest, principal...sometimes even an escrow account. But we need QBO to accurately reflect our mortgage balance. Check out this video where I show you exactly how to add mortgage payments to your books (I even include a game-changing shortcut!)
(0:00) Introduction to Mortgage Payments and QuickBooks Online
(2:10) Understanding Property-Level Balance Sheet
(3:57) Managing Fluctuations in Monthly Mortgage Payments
(7:12) Utilizing Banking Feed to Manage Transactions
(9:05) Automating Bookkeeping with Recurring Transactions
(11:26) Avoiding Double Counting in Banking Feed
(13:41) Adjusting Principal Amounts for Accurate Loan Balance
(15:27) Establishing a Process for Tracking Mortgage Payments
(15:54) Free Resources and Real Estate Accounting Bootcamp 2.0
(16:19) Closing Remarks and Engagement Invitation
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By Nick BaldoIn this episode, Nick Baldo delves into managing mortgage payments using QuickBooks Online. He explains property-level balance sheets, handling changes in monthly payments, and using banking feeds for transactions. He discusses automation of bookkeeping, avoiding double counting, and accurate loan balance adjustments. Finally, he introduces resources for tracking mortgage payments and invites listeners to the Real Estate Accounting Bootcamp 2.0.
Enroll to Real Estate Accounting Bootcamp: http://bit.ly/reabcourse (Enter Code YOUTUBE50 for $50 off!)
End to End Podio Training: https://www.incomedigs.com/pcc
Check out our Podio Templates: https://bit.ly/3pE4DBt
Download our guide: https://www.incomedigs.com/qbosetupguide
Mortgage Payments can get complicated. We have interest, principal...sometimes even an escrow account. But we need QBO to accurately reflect our mortgage balance. Check out this video where I show you exactly how to add mortgage payments to your books (I even include a game-changing shortcut!)
(0:00) Introduction to Mortgage Payments and QuickBooks Online
(2:10) Understanding Property-Level Balance Sheet
(3:57) Managing Fluctuations in Monthly Mortgage Payments
(7:12) Utilizing Banking Feed to Manage Transactions
(9:05) Automating Bookkeeping with Recurring Transactions
(11:26) Avoiding Double Counting in Banking Feed
(13:41) Adjusting Principal Amounts for Accurate Loan Balance
(15:27) Establishing a Process for Tracking Mortgage Payments
(15:54) Free Resources and Real Estate Accounting Bootcamp 2.0
(16:19) Closing Remarks and Engagement Invitation