Hi, let's say Maria borrowed money from YGP. Then YGP released money to Maria for Php50K. How YGP record the transaction?

Hello, accounting-ygpso.

Thank you for sharing your concern here in the Community. I'd be happy to help you record borrowed money in QuickBooks Online (QBO).

I'd like to make sure that we're on the same page so I can provide you with the right amount of information. Any details or screenshot is appreciated so we can narrow down this issue. If you're referring to a loan, you can simply create a liability account to record the money you borrowed. Here's how:

1. Click the Gear icon at the top.
2. Tap Chart of Accounts, then hit the New button.
3. From the Account Type dropdown, select Non-current liabilities.
4. From the Detail Type dropdown, click Notes Payable or Loan Payable.
5. Enter a name.
6. Tick when you want to start tracking your finances.
7. Tap Save and close.

Then, you can now record the amount you got from the loan. Refer to the steps below:

1. Hit the + New button.
2. Click Journal entry.
3. From the first Account dropdown, hit the liability account you just created.
4. Choose the bank account on the second line. Please know that this instruction is only possible if you put all the loan amount right into your bank. Otherwise, you’ll need to reach out to your accountant for assistance.
5. Enter the same amount in the Credits and Debits column, then save.

You can check this article for detailed steps: Set up a loan in QuickBooks Online.

Please don't hesitate to reach back out if you need more help tracking your loan. I'll be happy to assist you again. Take care!