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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. 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.

Detailed instructions

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. (Optional) In the Description field, enter a brief note or explanation about the account.
  7. Click Save & Close.
KB ID# SLN43654
9/27/2016 10:07:40 PM
PPRDQSSWS403 9138 Pro 2017 0688ce