Proper accounting methods?

[Tina Peters]

Hello BP community.....

I'm looking for guidance and recommendation for best practice in how to account for property equity and principle payments. Currently for tax purposes, I track all mortgage interest etc, however, it does not include principle payments so I cannot see actual cash flow.

[Jamie Engledow]

Debit your mortgage interest expense, insurance, and mortgage (principal) account and then credit your bank account.