Hi Thejennster,
Welcome to Community! Reconciling your accounts in QuickBooks Online is essential for keeping your books up to date. I'll be happy to provide more insight here, so you're on the right track with your work.
Based on the information you've provide, I suggest having a look at how the loan has been set up. This will ensure it hits the correct accounts in a positive fashion. Here's a helpful guide for your reference. In addition, you can enter or edit opening balances in QuickBooks online. If you still experience the same result , I recommend speaking with your accountant for their expertise and the best course of action. If you don't have one, we can help you locate a ProAdvisor in your local area.
Please reach back out if you have other questions. We'd be glad to help!