recording a loan payable payment from the bank feed to the liability account

Hi, beintheblack.

I'm here to help you set up and record loan accounts in QuickBooks Online. However, I suggest consulting an accountant to make sure your books are accurate.

Here's how to set up a liability account:
 

1. Click Settings ⚙, then choose Chart of Accounts.
2. Tap New to create a new account.
3. From the Account Type ▼ dropdown, hit Non-current liabilities. Note: If you plan to pay off the loan by the end of the current financial year, click Current liabilities instead.
4. From the Detail Type, select Notes Payable (or Loan Payable).
5. Give the account a relevant name, like Loan for the business, Loan account, etc.
6. Tap Save and close.
    

Once done, you can now record the money you got from the loan. This step will increase the balance of the loan account and the asset account where you put the loan you got.

1. Click + New and choose Journal entry.
2. On the first line, tap the liability account you just created from the Account dropdown. Enter the loan amount in the Credits column.
3. On the second line, hit the bank/asset account from the Account dropdown. Enter the same loan amount in the Debits column.
4. Tap Save and close.
    

You can check this article for more details: Set up a loan in QuickBooks Online.

I've also added this to help you manage your deposits: Record and make bank deposits in QuickBooks Online.

I'm only a post away if you need more help about managing your loan accounts in QuickBooks. It's always my pleasure to help you out again.

thank you for the information but that's not the information i  was seeking.  Let me rephrase.

I have set up the loan exactly as your email as I also stated in my post. I did the journal entry.  my liability account shows a negative number, as it should.  When I post the BANK FEED DIRECT DEBIT PAYMENT each month to this account (the liability account for the loan) it should reduce the amount owed on the loan, but it's increasing the debt.   This is my problem, the loan is for 46k when I post the deposit  (15k)to the amount which was a check, it should show the amount owed is 31k. Then each month we pay 750 by direct debt. when this isposted to the account it should also reduce the amount owed until the loan is paid.  however, the loan goes to -61k.  i put the original amount owed as a negative. should i input it again as a positive as the liability account is a negative number to begin with ?

I got you covered, @bookkeeping has 2Ks.

Yes, you should input the opening balance of the liability account as a positive amount. Once done, this will cancel out the balance when you apply the payment for the loan. To edit the opening balance you can follow the steps I've outlined below:

1. Click the Gear icon and select Chart of Accounts.
2. Find the liability account for the loan, then go to the Action column and select View register.
3. From there, look for the Opening balance.
4. Click it and select Edit.
5. Enter the loan amount in a positive form.
6. Once done, click Save and close. 

For more details about the process, please see this article: Edit an incorrect opening balance.

Additionally, feel free to check out this link for guidance in managing your loans: Set up a loan in QuickBooks Online.

Also, to ensure that your books are accurate and to avoid messing up the data, I highly recommend seeking assistance from your accountant. They can give advice and guide you in properly recording the loan in QBO. If you're not affiliated with one, you can use our Find an Accountant tool to look for a Pro-Advisor near your area. 

If you need additional assistance in tracking your loan in QBO, don't hesitate to add a reply below. I'd be glad to help you once more. Have a good one.