QB Issue Resolution:
Yes and no. You can create a current asset account and in QBO you are allowed to create an Expense from a current asset account in addition a bank type account.
Or you can perform a JE although name reporting will not be correct
Resolution for Issue 'I have a mortgage loan that a portion of the payment goes to escrow for tax & ins. Should I set up a escrow acct in QBO and do journal entries when $ is disbursed?' available: Yes (Solved).
Source: Intuit Community forum.
I have a mortgage loan that a portion of the payment goes to escrow for tax & ins. Should I set up a escrow acct in QBO and do journal entries when $ is disbursed?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for create a current asset account
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Error Recovery for create a current asset account [Canada]
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