Loan to Business

I can help you with recording the loan from the owner, @TLS33.

To record a loan for the purchase of assets such as a car or truck, you'll need to create a liability account. 

To do this, you can simply create an account called Loan-Truck. If the loan needs to be paid in full within a year, you should set it up as a Current Liability account. However, if the loan will be repaid over more than a year, you should set it up as a Long-term Liability.

Here's how to set up a liability account for a loan:

1. Go to the Gear icon (⚙) and select Chart of Accounts. 
2. Click on New.
3. Select either Other Current Liabilities or Long-term Liabilities.
4. Set an account name. 
5. Leave the Account Balance blank, then click Save.

Now, write a journal entry to apply the loan to the proper asset accounts:

1. Go to the + New button and select Journal entry. 
2. For the first line under the Account column, select your new liability account and enter the amount of the loan you’re applying to the asset under the Credits column.
3. For the second line, select the appropriate asset account under the Account column.
4. Under the Debits column, enter the amount of the loan you’re applying to the asset.

For more information about recording loan assets and payments, check out these articles:

• Record the loan for an asset in QuickBooks Online
• Set up a loan in QuickBooks Online

Tracking depreciation for fixed assets in QuickBooks Online requires manual journal entries. For detailed guidance, check out this article: Depreciate assets in QuickBooks Online. 

Let me know if you need further help recording your loan and payment. I'm always here to answer them for you. Keep safe, and have a wonderful day!