Mortgage payment - tax escrow refunds?


I’m wondering how to deal with tax escrow refunds within the transactions? My bank refunds me annually for a surplus that exists within my escrow account. How should this be accounted for in Stessa?



@dugganrealestatellc Sure. Since this is not an actual expense or actual income, you’ll want to use the “Transfers” category or one of the escrow subcategories under “Transfers.” You’ll essentially reverse a portion of the original transaction that was entered when the escrow account was funded. The reversal should be a “Money In” transaction, assuming the original payment into escrow was tracked as “Money Out.”

This support article may also help: Split and Categorize Mortgage Payments