Journal Entry

It's great to have you here in the Community Space, NeeNee2022.

Let us first create a liability account to record a loan for the purchase of new assets. To begin:

1. Go to the Settings icon, then select Chart of accounts.
2. Select New to create a new account.
3. From the Account Type dropdown, select Non-current liabilities. Note: If you plan to pay off the loan by the end of the current financial year, select Current liabilities instead.
4. Under the Detail Type dropdown, click Notes Payable (or Loan Payable).
5. Name the account.
6. Choose when you want to start tracking your finances. In the Unpaid balance field, enter the amount in the account, and determine the as of date.
7. Select Save and Close.

Once done, let's create a Journal Entry to apply the loan to the proper asset account and make the accounts balanced. Here's how:

1. From the + New icon, choose Journal entry.
2. Choose your new liability account from the Account column on the first line. Enter the amount in the appropriate column depending on whether you need to debit or credit the account.
3. On the next line, choose the other account you are transferring funds to or from. 
4. Review the amounts, and make sure both the debit and credit columns are in balance.
5. Select Save and close.

To further guide you with the complete accounting process, I'd recommend consulting your accountant to know the best way to set up and balance your journal entries.

You may check out this article to help you guide with the detailed steps mentioned above: Set up a loan in QuickBooks Online.

Moreover, if you wish to track the depreciation of your assets using journal entries, I've added this article to know how to record them manually: Depreciate assets in QuickBooks Online.

If you require further assistance balancing loan amounts in QuickBooks, feel free to get back to this thread. The Community is here to help. Stay safe!