Hello there, jefftdowdle.
In QuickBooks Online, you'll need to set up a liability account to record what you owe. The steps below will guide you through the process:
- Go to Accounting on the left panel.
- Within the Chart of Accounts tab, select New to create a new account.
- In the Account Type drop-down arrow, select Long Term Liabilities. From the Detail Type drop-down, select Notes Payable.
- Then, Save and close.
![j.PNG j.PNG](https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/61045iCB36850BE9CF47B2/image-size/large?v=v2&px=999)
When recording a loan payment, you can follow the steps below:
- Go to the +New button.
- Select Check.
- Fill out the required information.
- Select the bank account holding the loan you'll use to make payments from the Payment account drop-down arrow.
- From the Category drop-down arrow, select the liability account to track this loan.
- Select the expense account for the interest in the next Category line.
- Enter the total amount of the loan payment in the Amount field.
- Once done, Save and close.
![h.PNG h.PNG](https://quickbooks.intuit.com/learn-support/image/serverpage/image-id/61046i8288F1D9B59743C8/image-size/large?v=v2&px=999)
You can check this article for more details: Set up a loan in QuickBooks Online.
Let me know if you have other questions. Take care and stay safe always.