Set up a mortgage, historical payments, interest v principal

  1. Rather than using pro forma (my escrow includes insurance and property tax) I would like to demonstrate my taxes and insurance as a monthly expense. How can I establish a monthly expense not generated by my bank account for more accurate accounting?
  2. How do I separate principal from interest for tax purposes?
  3. I put in my original loan amount and signing date for 2012. Why is the software not calculating all of the mortgage payments from 2012 to the present?

@bradoglevie Thanks for your questions. Most of these issues are covered in our extensive library of support articles and tutorial videos. As for pro forma, these are simply used for baseline purposes in some metrics and reporting. Pro forma data will not generate automatic or recurring transactions, nor will setting up a mortgage card. The Transactions page represents actual income and expenses and is not designed to reflect what’s supposed to happen if everything goes 100% according to plan. If you’d like to capture income and expenses automatically, you’ll need to connect to your bank and/or lenders directly via the External Accounts page.

Splitting mortgage payments into their component parts is covered in: Split & Categorize Mortgage Payments

Hope that helps!