I have not done this in gnucash, but here are some comments. 1. The escrow account is an asset, just like a bank account.
2. Your mortgage payment does the following: debit Escrow, increasing this asset debit interest expense, increasing this expense debit loan principal liability, decreasing this liability credit cash, decreasing this asset 3. When taxes or insurance are paid from the escrow account, this happens: debit the tax or insurance expense, increasing this expense credit the escrow account, decreasing this asset I do this in QuickBooks with general journal entries. The escrow account balance is checked against the mortgage statement each month. Good luck! Harold On Sat, June 6, 2026 9:50 am, Lawrence Whalen wrote: > Hi guys, > > > I have started to set up current mortgage in Gnucash. The Loan Details > are no problem, > > Where I start to run into problems is the Loan Repayment Options. First > it asks if I use an escrow account which we have with the bank. My first > question is should the escrow account I set up in Gnucash go into assets, > expenses or liabilities? > > It then asks if it is paying taxes and insurance which it is but that is > handled by the bank. I am assuming I check the pay taxes and pay insurance > and then check the via escrow account on both. > > After doing this I get lost in the Loan payment section any help here > will be greatly appreciated. > > I have to assign where the money to pay the taxes and insurance is coming > from and going to. > > This one is confusing for me. > > > Take care and have a good weekend. > > > Regards, > > > Larry > _______________________________________________ > gnucash-user mailing list [email protected] To update your > subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > > -- Not sent from an iPhone. _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
