Mortgage payment Category in Transactions
solosails
Member Posts: 26
Hi,
I can see how to set up a journal entry to make a loan/mortgage payment, but my question is...
In Accounting/Transactions, where the payment is listed from the bank auto reconciliation, how do I select the appropriate category?
In the drop down list it only appears to allow expenses, income or equity, but the correct category is none of these, it is a liability payment, so - how do you select the correct category for this automated bank entry?
Many thanks in advance.
Andrew
0
Comments
Hi @solosails. In order to make sure that the correct category is selected, you will need to create a specific liability payment account in the Chart of Accounts section. From there, you should be able to enter in the name of the liability in the search and it would be successfully categorized.