Prorated Tax Payment
Posted: Thu Oct 22, 2020 3:31 pm
I have a loan where the borrower owes $1,400 for pro-rated property taxes. This was not collected at closing but is due before December 31st. What is the best way to enter this into Moneylender?
My thoughts were to enter it as an escrow charge that’s due on December 31st? I want to be sure that it does not get recorded as interest or get applied to principal.
My thoughts were to enter it as an escrow charge that’s due on December 31st? I want to be sure that it does not get recorded as interest or get applied to principal.