If you are escrowing for taxes and insurance the amount to Escrow will be automatically calculated and deducted as a prior expense.
You should plan on escrowing enough every month to have enough money in the account to pay the property tax and insurance bill when it is due.
The monthly amount to escrow will initially be set in Cell B56 on the Setup worksheet. If there is an escrow deposit, this can be added in Cell B57.
It is easy to change your escrow payments. If for example you are escrowing for insurance and taxes, then the amount you want to escrow may change with time.
Click on the Int Rate & Escrow Changes worksheet.
To disburse money from the Escrow Account, you enter date, purpose and amount as follows:
Click on the Record Payments worksheet.
Get in touch if you’re having problems, need something specific or have questions about our spreadsheet.
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