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Set Up an Escrow Account

Escrow is a specific portion of a loan that is held in an account by a third-party until the conditions of the loan are met.

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.

Set Up Escrow Account
To setup an Escrow Account:
  1. From the List menu, select Chart of Accounts.
  2. Choose Account at the bottom of the list, then click New.
  3. Select Other Account Type and select Other Current Asset.
  4. Click Continue.
  5. In the Account Name Field, enter the name of the Account.
  6. In the Description field, enter a Description. (This is optional.)
  7. Click Save & Close. Check to confirm.


 

If this solution does not resolve the issue, please review other available QuickBooks support options for further guidance.
You may also read and post messages regarding your concern on the QuickBooks Community forums.

KB ID# SLN43654
7/28/2016 3:14:14 PM
PPRDQSSWS403 9132 Pro 2016 8a98f6