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Hi Amy I We want to talk today about what happens if you record your mortgage payment incorrectly? If mortgage payments arent recorded correctly your financial statements are not accurate Youre not able to make good decisions on your business based on the reports. Youre seeing and Your CPA is going to spend more time which will cost you more money to keep your taxes prepared And your QuickBooks or software cleaned up Okay, well I think this is a great topic and when we talked about it. I Felt like this was something our readers can definitely benefit from, so today Amy Heinen from Quick Action Accounting and I are going to talk about three main things what an escrow account is how to record mortgage payments when you have an escrow account And if you do it wrong what happens and then well do a little summary at the end So why dont we begin with what is an escrow account? The escrow account is like a holding account that your mortgage company has of your funds you pay into it each