Mortgage bill tax escrow

Thanks for dropping by the Community, @danh123.

You can change the specific expense account set up for this mortgage to your preferred one. This way, it won't be listed as an expense for the bank. Before doing so, I recommend consulting your accountant or accounting professional for further advice to ensure your account is accurate for your business.

Once done and you're ready to pay the mortgage, you can refer to this article for the detailed steps on how to do it: Set up a mortgage.

For tips and other resources, you may visit our website for reference: Self-help articles.

Please leave a comment below if you have any other concerns or questions. I'm more than happy to help. Have a good one!

How exactly do you change the expense account?

It seems like it is categorized as an expense for the bank because that is who the check is made out to. I tried to edit the tax expense account but didn't see a change that would affect this.

Hi @danh123,

I'll share the steps you need to change the expense account on a transaction you can see in the Expenses by Vendor report.

Here's how:

1. Go to the Reports menu.
2. Highlight Company & Financial.
3. Choose either Expenses by Vendor Summary or Detail.
4. Locate the check transaction in question, then double-click to open it.
5. Under the Expenses tab, look for the Account column.
6. Change the expense account to what you want.

As my colleague @FritzF stated above, it's best to consult your accountant on what expense account to use. This is to maintain the accuracy of your books.

On the topic of reports, you have the option to edit them in QuickBooks Desktop (QBDT), so it shows information that's specific to your business needs. You can refer to this article for the steps: Customize reports in QuickBooks Desktop. 

If you need to save your custom reports for easier access in the future, follow the steps in this article: Create, access, and modify memorized reports. 

I'll be around if you need further assistance with changing expense accounts in checks in QBDT. Drop a reply below, and I'll get back to you as soon as I can. 

Thank you for the reply but I don't think either of these methods will allow me to have the tax expense show up under the city as a vendor rather than the bank. The expense goes to the bank as a vendor because that is who the check is made out to.