How do i add a loan to my account

You'll want to set up two Accounts.  One is the Liability Acct which shows how much you owe.  Second will be the Interest Paid Acct to show your Interest Payments.

To setup the Liability Acct:

- Go the Settings, then Chart of Accounts

- Select NEW

- Account Type would be Long Term Liability (assuming you're not going to pay it off in 2022)

- Detail Type would be Notes Payable

- Name the Acct something like "Chase Loan (01/22) 12345"  <<-- All or the last part of the Acct#

** Leave the Opening Balance as $0 **

- Save and Close

If you have Deposited the money in your Bank Acct, go to that Deposit and change whatever Account you used to your new Loan Acct.  (You can go back into the Loan Acct and confirm it shows the Loan Amount now.)

The "Loan Interest" Acct is set up basically the same way, but the Acct Type is Expense. 

If you have or will have multiple loans, you can set up a Parent Acct called Loan Interest and then set up a Sub Acct called something like Chase Loan (01/22).

When you get your Loan Statement you will see a Principal Payment and Interest Payment that totals the "Loan Payment" you were expecting to pay.  The difference between these to entries will change every month over the life of the loan, but the total of the payment should stay the same.

So when you make the payment you will want to make it a SPLIT payment.  Total for the check will be the total Loan Payment.  The Split amounts will be:

Chase Loan (01/22) 12345 (or whatever you called it) = Principal Amount for that month

Loan Interest:Chase Loan (01/22) = Interest Amount for that month

When you make a payment, you should see the amount in the Chase Loan (01/22) 12345 Acct reduced by the Principal Payment.