Good afternoon, @heidi77f.
I'm happy to have you here in the Community.
I can help you record the liability.
- Go to the Gear Icon in the top right and select Chart of Accounts.
- Choose New.
- From the Account Type drop-down, select Long Term Liabilities. Note: If you plan to pay off the loan by the end of the year, choose Other Current Liability. Otherwise, choose Long Term Liabilities.
- From the Detail Type drop-down, click Notes Payable.
- Give the account a proper name, whatever is most comfortable for you.
- Enter the loan amount as a negative amount in the Amount field. Since the future payments to the bank are a liability for your business, the amount should be negative.
- Select Save and close.
That's all there is to it.
I'm right here if you have any other questions, all you need to do is reply to this thread.