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jrschatz
Level 1

I am trying to record a payment of taxes from my mortgage escrow account (other current asset) but quickbooks tells me to choose a different type of account

 
1 Comment 1
Rustler
Level 15

I am trying to record a payment of taxes from my mortgage escrow account (other current asset) but quickbooks tells me to choose a different type of account

Assuming the tax payment is part of your mortgage payment, and the escrow company is actually making the payment.

 

do a journal entry

debit tax paid and credit tax escrow

 

If the above is not true, please explain your entries for tax escrow

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