How to connect a (bank) loan account to QB online?

Thank you for joining us here in the Community, @kfyong.

Connecting a bank loan in QuickBooks Online is unavailable. What you can do is set up a liability account to record the loan and its payments.

Here's how:

1. Go to the Accounting tab on the left side. 
2. Select Chart of Accounts, then click the New icon.
3. In the Account Type, choose Other Current Liability if you plan to pay off the loan by the end of the fiscal year. Otherwise, pick Long Term Liabilities.
4. From the Detailed Type drop-down, select Notes Payable. 
5. Enter the name's loan in the Name box. 
6. Choose when you want to start tracking your finances.
7. Hit Save and close.

Once done, let's go the Journal entry page to track the money you got from the loan. In case you're unable to see the journal entry option, switch to Accountant view first. After that, please follow the steps listed below. 

1. Click the New (+) icon, then choose Journal entry.
2. Select the liability account you've created from the Account box. 
3. On the second line, choose the exact asset account.
4. Enter the loan amount both Credits and Debits column. 
5. Tap Save and close. 

The next step is to record the loan payment by creating a check. Let me guide you how: 

1. Click the + button under the QBO logo. 
2. Pick Check on the pop-up window. 
3. Select the payee's name, then choose Bank Account. 
4. In the first line under Category, pick the liability account, then enter the amount. 
5. For the second row, select expense accounts for the interest and type the amount. 
6. Hit Save and close. 

For the detailed instructions, browse this article: Set up a loan in QuickBooks Online.

Please visit this article: Run reports. This link will guide you on how to generate specific reports, email, print, and export. 

Don't hesitate to leave a comment below if you have follow-up questions. I'm always here to help. Take good care, kfyong.

Any updates to this article on how to connect a Loan (bank) account to QB?  This article is over 2 years old and I am sure procedures have been updated since.  Thank you for your help with this matter!

Thank you for chiming in on this thread for updates, @cbonagofski.

Currently, this option is unavailable in QuickBooks Online (QBO). Also, we’re unable to provide you with the ETA on when will this be available.

In the meantime, you can create a liability account to record and track your loan and its payments. Just follow the steps provided by my colleague above, Michelle_b.

Nonetheless, I recommend you send your feedback directly to our product developers. Doing so will let our engineering team know how we can assist you with your business needs. 

Here’s how you can submit it in QuickBooks Online (QBO):

1. Go to the Gear icon.
2. Under the Profile column, click on Feedback.
3. Share your feedback. Then, click Next.

Once done, our engineering team can review this option and might add it to future updates.

Furthermore, you can check out the following articles to learn more about categorizing and reconciling an account in QuickBooks Online.

• Categorize and match online bank transactions in QuickBooks Online
• Reconcile an account in QuickBooks Online 

Let me know if you need further assistance with your banking transactions. I’m just one post away from assisting you. Have a good one!

So now four years on and no resolution? However - if an account in QB Online is designated as 'Cash and Cash Equivalents' instead of correctly classifying as a loan account, then it can be linked to the bank.  So - it seems that allowing an account designated as a long or short-term loan account to be linked to a bank feed should be a very trivial change. 

I am very disappointed that users have requested key features in QB Online (like customising forms) for up to 6 years with ZERO change and no published development roadmap. I presently use 5 QB Online subscriptions and will now seriously consider moving to another service. I will use the frustrating missing parts and 'features' of QB Online (e.g., in-app pop-up ads) as the selection criteria for an alternative product.