If you have already set up your mortgage in Quicken, do the following:
- Click on the mortgage account in the Account List.
- Click Payment Details in the upper left.
- Click Edit payment details.
- In the Loan Details dialog, click Edit.
- In the Split Transaction dialog, enter all of the items you'd like to track.
- Track items like insurance or interest by using an expense category; for example, Insurance or Insurance:Fire.
- Track the money that your mortgage company sets aside for your property tax payments by either creating a category like Property Tax or Tax:Property, or by using an asset account. If you choose to enter the property tax amounts as transfers to your Escrow account, you get the advantage of being able to check your Escrow account balance quickly. When your mortgage company makes a payment for you, remember to enter the payment amount into your asset account to decrease the balance.
- Click OK.
- Click OK again to close the Loan Details dialog.
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Article ID: GEN82499