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January 5, 2024
Question

How do I write off a portion of my mortgage payment? I know the amount, but not sure how to classify it. Same with other utility bills. Help!

  • January 5, 2024
  • 1 reply
  • 3 views
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1 reply

Level 1
January 5, 2024

Hello there, @blessthismess-dh.

 

I'm here to help you record your mortgage payment write-off by creating vendor credits.

 

Before proceeding with the steps, I would recommend consulting your accountant for the best way to record this, making sure your records are organized and compliant with regulations.

 

Here's how:

  1. Go to + New.
  2. Under Vendors, select Vendor credit.
  3. In the category column, choose the account you use for the mortgage, and then apply the open bill.
  4. Click Save and close.

 

Additionally, if you want to run a report for all the money paid by your vendor, you can check this article for guidance: Run a report with vendor totals.

 

Should you have any other questions or concerns about the write-off, feel free to leave a comment below. We're always around to help. Have a great day!