new loan

Hi there, @Eve2019. Let me share a way to record your new loan in the Chart of Accounts.

We can start by setting up a liability account for the loan by following the steps below:

1. Go to the Lists menu, then select Chart of Accounts.
2. Right-click anywhere, then pick New.
3. Select Other Account Types, then choose Other Current Liability for short-term loans payable over one year or Long Term Liabilit for long-term loans payable over a longer period.
4. Press Continue.
5. Enter the name and number of the account, then Save & Close.

Once done, create a new vendor for the you need to pay for the loan through these instructions:

1. Go to the Vendors menu, then select Vendor Center.
2. Click New Vendor, then enter the bank's name and other details.
3. Press OK.

Once done, continue to set up an expense account and document the loan amount in this article: Manually track loans in QuickBooks Desktop. It will also guide you in applying for the payments.

Additionally, I highly recommend consulting an accountant in terms of the deposit made from your main bank account. This way, we can ensure we're putting the transactions under the correct account in your COA.

Bookmark this reference if you'd like to explore help in calculating interest and payment schedules: QuickBooks Loan Manager.

Our doors are always open to help you again if you need further assistance tracking loans. I wish you all the best.