Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Connect with and learn from others in the QuickBooks Community.
Join nowI am trying to enter a year-to-date Journal Entry for a Mortgage on a rental property. I have entered the total amount owed at the beginning of the year minus the Escrow and minus the Interest which when I record it the amount owed now is correct. The problem I have is that when I entered the Interest which I put it towards an Interest Expense account it shows a negative amount on the report. What am I doing wrong? The Journal Entry goes as follows: Debit: Asset (Rental Home) Credit: Escrow Amount, Credit: Interest Amount, Credit: Balance-Liability Account. Can't figure out why Interest Expense shows negative amount. Please Advise!
Solved! Go to Solution.