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May 4, 2022
Question

how do I properly enter the purchase of our building and mortgage

  • May 4, 2022
  • 1 reply
  • 0 views

we have currently purchased the property we have occupied for our automotive business, and need to know how to properly enter the transaction, for the mortgage and purchase

1 reply

May 4, 2022

Hi rt73,

 

Welcome to Community!  QuickBooks is a powerful program with the features you need to complete your daily tasks with peace of mind.  Keeping track of your purchase and loan payments can be done seamlessly.  I'll be happy to help!

 

Initially, you'll need to set up a liability account to record the loan.  An expense account is also needed to track interest payments, fees and charges.  Here's a helpful guide to assist you with getting this set up.  If you require additional assistance, please reach out to your accountant.  If you don't have one, we can help you locate a ProAdvisor in your local area.

 

Feel free to reach back out if you have other questions.  We'd be glad to assist!