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Index
1:40 Checklist for entering a Hud 1
2:30 Start of Video on sample file
3:23 Settlement with hard money loans not bank loan example
4:00 Quick create plus sign to journal entry to enter debits and credits
5:27 Break up the settlement charges
5:50 Start with loan fees
7:00 Add lines to journal entry to add in loan fees
7:27 Add in the chart of accounts for it
8:00 Adding a fixed asset, home price, and subcategory
8:53 Next section to add in to journal entry is interest expense
9:12 Adding in the chart of accounts for interest expense
9:24 Title charges, add them into journal entry
10:24 Recording fees, government charges adding into journal entry
10:53 Additional settlement charges
11:04 Assignment fee 22,000 , an additional amount that goes to the purchase price
11:46 Off by $10 in the journal entry, so Seth auditing his work
13:00 Adding into Escrow Deposits
13:28 Changed location tab in the journal entry to property, or you can add the property
address to the customer
14:16 Property tab can only be assigned to one level globally, can't be split
15:32 How does the fees get offset in the entry, in the bank account
16:15 Should not be doing journal entry on bank accounts, instead Escrow Deposits
17:08 Recording a check to Escrow Deposits for the 49.55
18:07 Adding a bank deposit, putting it to the Loan Escrow
20:17 Overview of the recording of check and deposit on the transaction report
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