The balances were deposited in QuickBooks as a loan by setting up a liability account, @janeboliver.
Your previous accountant handled the loan by setting up a liability account and then making a journal entry to keep track of the amount owed to you and to record expenses for year-end reporting, such as for tax purposes. To ensure that the deposited balances are coded correctly in journal entries, I recommend consulting an accountant who can assist with this process.
I can help you find one if you don't have a new one. Feel free to visit this page to find an accountant for your business: Find a QuickBooks ProAdvisor.
You may also want to manage your loan using the Loan Manager in QuickBooks Desktop. This article will walk you through the process: QuickBooks Loan Manager.
For any questions about managing journal entries or any transactions in QBO, please feel free to post them here. The community forum is available to support you. Take care!
