How to record a personal bank loan into a LLC

Hello there, Liz Drafts.

I'm here to share the steps on how to record the loan and its payments.

Before doing any of the steps, I'd recommend reaching out to your accountant so they can guide you on what accounts are best to use. 

Then, here's how to record the loan. First, you'll have to set up a liability account:

1. From the Accounting tab, select Chart of accounts.
2. Click New.
3. From the Account Type ▼ dropdown, select Non-current liabilities. 
4. On the Detail Type, select Notes Payable (or Loan Payable).
5. Give it a Name.
6.  In the Unpaid balance field, enter the amount in the account, and determine the as of date. 
7. Click Save and Close.

Second, record the money you got from the loan:

1. From the + New tab, select Journal entry.
2. On the first line, select the liability account you just created from the Account dropdown. Enter the loan amount in the Credits column.
3. On the second line, select the appropriate bank account from the Account dropdown. Enter the same loan amount in the Debits column.
4. Click Save and Close.

Lastly, record the loan repayment:

1. From the + New tab, select Cheque.
2. Go to the Category details section.
3. On the first line, under Category, select the liability account.
4. On the second line, select the expense account for the interest from the Category dropdown.
5. On additional lines, add any additional fees.
6. Select Save and close.

Also, if you need some resources to help manage your QuickBooks account, you can check this reference: QuickBooks Help Articles.

I'll be around whenever you have questions with QuickBooks.