Propertyware Knowledge Base

To set up your mortgage in Propertyware you will need to make sure the following accounts exist on the Chart of Accounts:

Mortgage Principal (Liability)

Mortgage Interest (Expense)

Mortgage Taxes (Expense)

Mortgage Insurance (Expense)

The mortgage payments can be entered into Propertyware as an Auto Bill that will be created as a bill each month, or manually entered as a bill.  You should create a separate split for each item, principal, interest, taxes and insurance.

On the first row of the bill split, select the Mortgage Interest account and type in the amount of interest you paid.  Add another bill split for the Mortgage Principal, which should be a Liability account. Finally, add the additional bill splits for the appropriate taxes and insurance.

*Note to QuickBooks users.  If you are syncing wtih QuickBooks, you may change the account type for mortgage principal to "Liability" or "Long-Term Liability" in QuickBooks. (Accounts may have a different type between Propertyware and QuickBooks).