Loan

Hello there, Grimayoj. I'm here help you fix this concern regarding your loan transaction.

First, let's delete the Journal Entry you created.

Next, let's create a Pay bill using the Owner's draw to record it to your Equity account. If you don't have an account, you may refer to this article on how to create an Owner's Equity account: Set up and pay an owner's draw.

But before we proceed, let's create a journal entry. Here's how:

1. Click + New.
2. Select Journal entry.
3. Under Account, select Owner's Draw. In the Credit enter the total amount you need to pay.
4. In the second line, choose Accounts Payable (A/P). Debit the total amount you need to pay. Under Name, enter the Minority owner.
5. Click Save.

Afterward, let's create a pay bill. Here's how to do it:

1. Select + New.
2. Under Vendors, choose Pay bills.
3. Under Payee, tick Minority owner and click Save.

If you have any additional questions about QuickBooks Online, please post them here in the community. Stay safe!

@Grimayoj 

Disregard @MelroseV 's response.  It's nonsense.  I don't think actual people are behind these "QB Employee" posts.

The easiest way to do this is to enter the bill from the vendor and pay it with a bank account called 'Clearing Account'.  If you don't have one, set one up.  Then, create a journal entry and debit the Clearing Account and credit a loan payable liability account for the amount of the bill/payment.  You now have the bill paid and an amount due in the loan payable liability account.  Then, write a check to the employee/owner for that amount.  That's it.  Now, the bill is paid, the employee/owner has been reimbursed, and the loan is cleared.