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Setting Up an Escrow Account

Escrow is that portion of the loan that is held in an account by a third-party until the conditions of the loan are met.
An escrow account is a QuickBooks Asset account that tracks the escrow portion of a loan payment.  Escrow accounts are commonly used to pay taxes and insurance.
Solution Description
To setup an Escrow Account:
  1. From the List menu, select Chart of Accounts.
  2. Click Account at the bottom of the list and then click New.
  3. Select Other Account Type and select Other Current Asset.
  4. Click Continue.
  5. In the Account Name Field enter in the name of the Account.
  6. In the Description field, enter in a description. (This is optional.)
  7. Click Save & Close.

If this solution does not resolve the issue, please review other available QuickBooks support options for additional guidance. You can also read and post messages relating to your issue on the QuickBooks Community forums.

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KB ID# SLN43654
5/27/2016 1:22:41 AM
QYPPRDQBKSWS09 9132 Pro 2016 15a1f8