I just Received my EIDL. I do not know how to enter it into my Quickbooks Online. I am a sole proprietor.

I can walk you through on how to record your loan in QuickBooks, danuelpiles. 

Let's enter a liability account and then record the amount you got from the loan. I'll show you how: 

1. At the left menu, click Accounting and select Chart of Accounts. 
2. Click New at the upper-right. 
3. From the Account Type drop-down list, select the appropriate liability account whether it's a Long Term Liability or Other Current Liabilities.
4. Choose details that matches your loan in the Detail Type drop-down.
5. Enter a name something like EIDL loan, then enter the full loan amount as a negative amount in the Amount field since the future payments to the bank are a liability for your business.
6. Click Save and close.

After that, record the money you've received from the loan through a Journal Entry affecting the Asset and Liability account. You can refer to this reference on how to enter the loan payment. I'd also suggest reaching out to an accountant for more details on how to record the Economic Injury Disaster Loan (EIDL) that's suits your business preference. 

Just let me know if you have other questions. You take care and have a great day!

I'm confused about the advice to enter the opening balance amount as a negative number. I have read elsewhere that the balance of the loan account should NOT appear as a negative amount, as that would suggest there's a credit. Please clarify?

To be specific: I want to properly set up my EIDL loan account. I received a $1000 advance on May 1, and then received the remaining 49,000 on May 15th for a total loan amount of $50,000. When I set this up, do I want to set the opening date for May 1 and the opening balance as $1000? Or do I want to set it up for April 30th with an opening balance of $0.00? If it's the former (opening May 1 with $1000 balance), should I enter that advance amount as $1000 or -$1000?