Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

How to account for a shared mortgage in QuickBooks Online?
How you should record the mortgage payments depends on if you are trying to achieve correct accounting, according to the standards, or if you are just tracking everything for you and your friends. If you're just keeping track for personal reasons, I'd suggest that you set up your check (or journal entry, your preference) how you'd like it to be recorded.  Then, memorize that transaction.  This allows you to use it as many times as you need to, without having to set it up each time.  (Also note: there is no way to record a transaction that decreases cash and increases equity.) If you're trying to keep track of everything according to accounting standards, which it should be if you've set up an official business, then you have a lot more tracking to do with each payment.  Mortgage payments technically do not affect the equity accounts of the owners.  Each mortgage payment should decrease the bank balance, increase interest expense and decrease the mortgage balance, not to mention tracking any escrow account you may have.  The equity accounts would be affected if the owners are contributing funds to the bank account, but equity would increase at the time the funds are deposited, not when the mortgage payments are made. Hope this helps!