Mortgage Payment in Cash Flow Budget

Mike or Penny Novack stepbystepfarm at mtdata.com
Thu Nov 21 09:05:05 EST 2013


Dave Potts wrote:

>Hi,
>
>I've set up my personal accounts including a liability account for my
>mortgage.  I get the point about mortgage payments not being an expense,
>but rather reducing a liability. 
>
Dave,
    Mortgage payments are a split. If JUST the mortgage involved then a 
split between reducing the liability and interest expense. If additional 
amounts such as payments into an escrow account for taxes and insurance 
even more complicated.

Michael


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