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Setting up Form 480.7A

Use the 480.7A tab to create the Mortgage Interest form. You can enter this data at the end of the year in one lump, or throughout the year as payments are made.

  1. From the Data Entry menu, click Contractors.
  2. Select the company from the Company drop-down menu in the top-right corner of the screen.
  3. Select the contractor from the list or perform a search if the list is too long.
  4. Click the 7A tab.

 

 

 

  1. Click the Add button on the toolbar or click File > New Pay.
  2. Enter the date of the payment in the Pay Date field. The year must be the same as the year entered in File > Setup defaults > System Setup. Otherwise, the data will not show on the screen.
  3. Complete the fields with the loan information. For instructions on how to complete this form, click here and search for this form.
  1. Enter the name and social security number of the joint borrower, if applicable.
  2. Enter the loan account number in the Loan Account field.
  3. Enter the term of the loan in the Loan Term field.
  4. Select an option from the Report to area to preview and print a report.

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