Entering Mortgage Payments in Quickbooks

[Ehab Shoukry]

Hi all -

I recently hired a bookkeeper to setup Quickbooks for me for my rental business. She entered 8 months of transactions for me and told me that for mortgage payments, she created a category of "Unallocated mortgage payments." The reason for this is that it becomes a hassle to properly allocate the PITI portions that come in every month with a mortgage payments.

However, she did mention at the end of the year when I get my mortgage interest statement that I would have to reconcile this.  I'm wondering if this is how others are handling this and how that reconciliation works?

Right now all of my mortgage payments for all of my home loans are going into this one category.

Thanks,

Ehab