All Forum Posts by: Joshua Scott

@Chris Seveney sure. Do you want me to send my email? I appreciate it. 

Thanks everyone for wonderful information. Even though I have a CPA I like to learn and ask questions. Plus I like ask questions that someone else may be looking for too. 

@Chad U. Thank you for the explanation. That helps a lot. 

@Chad U. Thank you. So since it’s an non performing note, say hypothetically you bought it for 2k upb is 15k but it worth 10k? If you were to start receiving payments, what happens after you go past 0? Thanks. 

Thanks everyone! 

@Natalie already completed. My cpa already has access and my books were already fine. Just teaching myself somethings. I’m just looking for others opinions that have worked in the note business. Thanks. 

Good evening. I’m trying to teach myself QuickBooks online even though I have a CPA. I want to learn and understand my own books just like someone understanding their own car. So those that have been in the business, how would one record a purchase on non performing note in QuickBooks online. I have it set up with address as name and other assets. The purchase is recorded as an expense. Is this correct?

@Jason Hogue how much is the Astro program? Thanks. 

No I did not. I started too and pulled my application. Most of the advice I received from BP was if you have to send money upfront it’s probably a scam. So I followed that advice. I just went with a traditional bank. 

@Bob Norton Thanks for your reply. Yes the sole purpose of the loan is to fund the business. So if I can get it deposited directly into the business account I will be able to deduct the interest. Thanks.