Search found 3 matches
- Wed Oct 09, 2019 1:03 am
- Forum: Accounting
- Topic: Mortgage Receivable
- Replies: 4
- Views: 877
Re: Mortgage Receivable
Thank you!!!
- Tue Oct 08, 2019 11:24 am
- Forum: Accounting
- Topic: Mortgage Receivable
- Replies: 4
- Views: 877
Re: Mortgage Receivable
The mortgage note was actually donated to the church. So I'm guessing that's why the CPA considered it an asset. We don't owe any money to anyone for the mortgage note. The payments are income to us. I need to track the principle payment and the interest income so that I can give the owner a 1098 at...
- Mon Oct 07, 2019 6:17 pm
- Forum: Accounting
- Topic: Mortgage Receivable
- Replies: 4
- Views: 877
Mortgage Receivable
We own the Mortgage note for a house that the owner makes monthly payments on. Our CPA indicated the the mortgage is an Asset and should be classified as notes receivable income. How do I set this up in PowerChurch? When the payment is received as income we will need to spit it into principle and in...