How do I manage amortization of mortgage with quickbooks online when I don't have quickbooks for desktop?

Hi there, drcynpizzulli.

Let me share some information on how to manage and process amortization of mortgage within QuickBooks Online. 

Creating an expense helps us to track the mortgage in the Online product. We'll be using two lines in this transaction to record the loan account and interest expense account. To guide you further, you can follow the steps below:

1. Go to the +New button.
2. Click Expense under the Vendor column.
3. Enter the needed details such as the name of the customer, payment account, payment date, payment method. 
4. Select your loan account under the Category details. Then, enter the amount paid off for the principal loan.
5. On the second line, select the interest expense account and enter the interest amount as well. 
6. Once done, I recommend reviewing it one more time to make sure that everything is correct.
7. Then, Save and Close. 

Afterward, you can create a journal entry in handling the amortization of intangible assets. We can manually create an expense account in the chart of accounts to track the amortization. However, it would be best to seek advice with your accountant in this process. They can guide you further and help you ensure that the accounts you're using are the appropriate ones.

Also, you may want to check out this article for additional details about it: Does QuickBooks Online have an amortization schedule?
 

If you have other questions with the Online product, just add another post below. I'll help you figure them out as soon as possible. Take care!

Hi There ;) 

To process amortization of debts with a check:

• Select + New.
• Select Check.
• From the Payee ▼ drop-down menu, select a customer.
• From the Bank Account ▼ drop-down menu, select an account.
• Enter a Mailing address and a Payment date.
• Choose a Location,Project or Class ▼ if applicable (and turned on).

• If this is a hand-written check, enter a Check no and appropriate Payment date.

• Under Category, select the loan account.
• Enter a description.
• Under enter the Amount paid off for the principal loan.

1. On line 2, enter the interest expense account and the interest amount under Amount.
2. Enter a description.
3. Note: The amount on your check must equal the total of the lines listing principal and interest. For specific information on what accounts should be used, consult your accountant or bookkeeper.
4. Enter notes under Memo.
5. Select Save and Close.

To process amortization of debts with as an expense:

• Select + New.
• Select Expense.
• From the Payee ▼ drop-down menu, select a customer.
• From the Payment account ▼ drop-down menu, select an account.

• Select a Payment date.
• From the Payment method ▼ drop-down menu, select a payment.

• Under Category, select the loan account.
• Enter a description.
• Under Amount, enter the amount paid off for the principal loan.

1. On line 2, enter the interest expense account.
2. Enter an interest amount under Amount.
3. Follow the same steps above done for line 1.
4. Enter notes under Memo.
5. Select Save and Close.

To handle the amortization of intangible assets, you can create a journal entry to deplete it. To record this transaction you would normally have an expense account setup to track amortization, along with a sub-account attached to your intangibles asset account for the tracking of the accumulated amortization. Again, you would want to consult your accountant or bookkeeper to make sure you are using the appropriate accounts.