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! You could classify the mortgage as a different assets class and then create automated additions and deductions to the account as deems fit. other than that quickbooks online is a bit fishy so it seems. What is the corporate structure? Your partnership agreement or LLC operating agreement should dictate how you approach this.
Many brokers administer their own dividend reinvestment plans.  In this case, on dividend payment date, they automatically buy from the market on behalf of their reinvestment customers, and they administer all fractional shares across all customers.  All of your shares are in the broker's street name anyway, the fractional share is simply in their account system.   The process is well documented for several common online brokers; so any specific questions you may have about differences in policies or implementation should be directed to your broker:  https://us.etrade.com/e/t/estation/help?id=1301060000 https://www.tdameritrade.com/retail-en_us/resources/pdf/TDA208.pdf In this artice we are trying to show you what is QuickBooks Payroll Error 30159 and how to resolve it. For a technical help about this you can contact us at - https://www.wizxpert.com/quickbooks-payroll-customer-service/ or dial our helpline number +1 855 441 4417. The ownership of the house depends on what the original deed transferring title at the time of purchase says and how this ownership is listed in government records where the title transfer deed is registered. Hopefully the  two records are consistent.  In legal systems that descended from British common law (including the US), the two most common forms of ownership are tenancy in common meaning that, unless otherwise specified in the title deed, each of the owners has an equal share in the entire property, and can sell or bequeath his/her share without requiring the approval  of the others, and joint tenancy with right of survivorship meaning  that all owners have equal share, and if one owner  dies, the survivors form a new JTWROS. Spouses generally own property,  especially the home, in a special kind of JTWROS called tenancy by the entirety. On the other hand, the rule is that unless explicitly specified otherwise, tenancy in common with equal shares is how the owners hold the property. Other countries may have different default assumptions, and/or have multiple other forms of ownership (see e.g. here for the intricate rules applicable in India). Mortgages are a different issue. Most mortgages state that the mortgagees are jointly and severally liable for the mortgage  payments meaning that the mortgage holder does not care who makes the payment but only that the mortgage payment is made in full. If one owner refuses to pay his share, the others cannot send in their shares of the mortgage payment due and tell the bank to sue the recalcitrant co-owner for his share of the payment: everybody is liable (and can be sued) for the unpaid amount, and if the bank forecloses, everybody's share in the property is seized, not just the share owned by the recalcitrant person.  It is, of course, possible to for different co-owners to have separate mortgages for their individual shares, but the legalities (including questions such as whose lien is primary and whose secondary) are complicated. With regard to who paid what over the years of ownership, it does not matter as far as the ownership is concerned. If it is a tenancy in common with equal shares, the fact that the various owners paid the bills (mortgage payments, property taxes, repairs and maintenance) in unequal amounts does not  change the ownership of the property unless a new deed is recorded with the new percentages.  Now, the co-owners may decide among themselves as a matter of fairness that any money realized from a sale of the property should be divided up in accordance with the proportion that each contributed during the ownership, but that is a different issue. If I were a buyer of property titled as tenancy in common, I (or the bank who is lending me money to make the purchase) would issue separate checks to each co-seller in proportion to the percentages listed on the deed of ownership, and let them worry about whether they should transfer money among themselves to make it equitable. (Careful here! Gift taxes might  well be due if large sums of money change hands). "For some people, it should be a top priority.  For others, there are higher priorities.  What it should be for you depends on a number of things, including your overall financial situation (both your current finances and how stable you expect them to be over time), your level of financial ""education"", the costs of your mortgage, the alternative investments available to you, your investing goals, and your tolerance for risk. Your #1 priority should be to ensure that your basic needs (including making the required monthly payment on your mortgage) are met, both now and in the near future, which includes paying off high-interest (i.e. credit card) debt and building up an emergency fund in a savings or money-market account or some other low-risk and liquid account.  If you haven't done those things, do not pass Go, do not collect $200, and do not consider making advance payments on your mortgage.  Mason Wheeler's statements that the bank can't take your house if you've paid it off are correct, but it's going to be a long time till you get there and they can take it if you're partway to paying it off early and then something bad happens to you and you start missing payments.  (If you're not underwater, you should be able to get some of your money back by selling - possibly at a loss - before it gets to the point of foreclosure, but you'll still have to move, which can be costly and unappealing.)  So make sure you've got what you need to handle your basic needs even if you hit a rough patch, and make sure you're not financing the paying off of your house by taking a loan from Visa at 27% annually. Once you've gotten through all of those more-important things, you finally get to decide what else to invest your extra money in.  Different investments will provide different rewards, both financial and emotional (and Mason Wheeler has clearly demonstrated that he gets a strong emotional payoff from not having a mortgage, which may or may not be how you feel about it).  On the financial side of any potential investment, you'll want to consider things like the expected rate of return, the risk it carries (both on its own and whether it balances out or unbalances the overall risk profile of all your investments in total), its expected costs (including its - and your - tax rate and any preferred tax treatment), and any other potential factors (such as an employer match on 401(k) contributions, which are basically free money to you).  Then you weigh the pros and cons (financial and emotional) of each option against your imperfect forecast of what the future holds, take your best guess, and then keep adjusting as you go through life and things change. But I want to come back to one of the factors I mentioned in the first paragraph.  Which options you should even be considering is in part influenced by the degree to which you understand your finances and the wide variety of options available to you as well as all the subtleties of how different things can make them more or less advantageous than one another.  The fact that you're posting this question here indicates that you're still early in the process of learning those things, and although it's great that you're educating yourself on them (and keep doing it!), it means that you're probably not ready to worry about some of the things other posters have talked about, such as Cost of Capital and ROI.  So keep reading blog posts and articles online (there's no shortage of them), and keep developing your understanding of the options available to you and their pros and cons, and wait to tackle the full suite of investment options till you fully understand them. However, there's still the question of what to do between now and then.  Paying the mortgage down isn't an unreasonable thing for you to do for now, since it's a guaranteed rate of return that also provides some degree of emotional payoff.  But I'd say the higher priority should be getting money into a tax-advantaged retirement account (a 401(k)/403(b)/IRA), because the tax-advantaged growth of those accounts makes their long-term return far greater than whatever you're paying on your mortgage, and they provide more benefit (tax-advantaged growth) the earlier you invest in them, so doing that now instead of paying off the house quicker is probably going to be better for you financially, even if it doesn't provide the emotional payoff.  If your employer will match your contributions into that account, then it's a no-brainer, but it's probably still a better idea than the mortgage unless the emotional payoff is very very important to you or unless you're nearing retirement age (so the tax-free growth period is small).  If you're not sure what to invest in, just choose something that's broad-market and low-cost (total-market index funds are a great choice), and you can diversify into other things as you gain more savvy as an investor; what matters more is that you start investing in something now, not exactly what it is. Disclaimer: I'm not a personal advisor, and this does not constitute investing advice.  Understand your choices and make your own decisions." 3 years ago I wrote Student Loans and Your First Mortgage in response to this exact question by a fellow blogger in my state.  What I focused on was the way banks qualify you for a loan, a percentage for the housing cost, and a higher number that also comprises all other debt. If the goal is speed-to-purchase, you make minimum payments on the student loan, and save for the $100K downpayment as fast as you can.  The question back to you is whether the purchase is your priority, and how debt averse you are. I'd caution, if you work for a company with a matched 401(k), I'd still deposit to the match, but no more.  Personal finance is just that, personal. We don't know your entire situation, your current rental expenses vs your total condo cost when you buy. If you are in a location where renting costs far more than your cost of ownership, Ben might change his mind a bit. If the reverse is true, you're living a college student's lifestyle with a room costing $400/mo sharing a house with friends, I'll back off and say to pay the loan and save until you can't tolerate the situation. You'll find there are few situations that have a perfect answer without having all the details. You can add $262,500 worth of notes payable (assuming that you use the cash to buy inventory immediately). Any more and you would push the current ratio below 2. In case this ratio is the trouble, the formula for current ratio is current assets over current liabilities. Notes payable is a current liability and inventory is a current asset so you add the number to both of them. I used Excel to do this.  With this addition the quick ratio is 1.19. The formula for this is (current assets - inventory)/Current liabilities. So you take ($1,312,500 + $262,500 - $262,500 - $375,000)/($525,000 + $262,500) = 1.19 The best thing for you to do will be to start using the Cash Flow report instead of the Income and Expense report. Go to Reports -> Income and Expense -> Cash Flow Once the report is open, open the edit window and open the Accounts tab.  There, choose your various cash accounts (checking, saving, etc.).  In the General tab, choose the reporting period.  (And then save the report settings so you don't need to go hunting for your cash accounts each time.) GnuCash will display for you all the inflows and outflows of money, which appears to be what you really want. Though GnuCash doesn't present the Cash Flow in a way that matches United States accounting rules (with sections for operating, investing, and financial cash flows separated), it is certainly fine for your personal use. If you want the total payment to show up as one line on the Cash Flow report, you will need to book the accrual of interest and the payment to the mortgage bank as two separate entries. Normal entry for mortgage payments (which shows up as a line for mortgage and a line for interest on your Cash Flow): Pair of entries to make full mortgage payment show up as one line on Cash Flow: Entry #1:  Interest accrual Entry #2:  Full mortgage payment (Tested in GnuCash 2.6.1) While I'm not an accountant, this is how I do this for my personal   accounting: Note, if you don't want the expense to take effect right away meaning   it'll affect your Profits, then the transaction date here needs to be   something in the future, then when you hit that date and the bill is   still not paid, you just unpost the bill and repost again with a new   date . So you end up with something like the following:   4. Now you post the invoice to Liabilities:Accounts Payable:The Cable Company, the invoice due date should reflect what you had in the invoice. This is important as gnucash will warn you that your bill is due if you want to pay it every time it starts:  When you're ready to pay the bill, just find the bill and click pay invoice. If it's already paid and you imported transactions from your bank, find the transaction then right click and click assign as payment then choose your invoice. Note: I've being using this to also record cheques that are given to   people but not cashed yet. I hope that helps.