Hello, @Neffy_20. It's great that you've always chosen the Community forum for your QuickBooks inquiries. I'd be delighted to share the process of tracking business expenses paid with a business loan.
It's efficient to record a loan in QuickBooks Online, Neffy_20. Let's begin setting up a liability account to record what you owe. Here's how:
- Select the Gear icon, then click Chart of Accounts.
- To create a new account, hit New.
- Choose Long Term Liabilities from the Account Type.
- Select Notes Payable from the Detail Type dropdown.
- Fill out the other necessary fields, then click Save and Close.
Once done, record the money you got from the loan. Please follow the steps below:
- Click the + New icon, then select Journal entry.
- Choose the liability account you just created from the Account dropdown on the first line. In the Credits column, enter the loan amount.
- Choose your bank account from the Account dropdown on the second line. In the Debits column, enter the same loan amount.
- Click Save and close when done.
You may want to read the detailed process and information. Check out this article: Set up a loan in QuickBooks Online.
I've also included the following article that contains information on how to record, edit, and delete expenses in QuickBooks Online: Enter and manage expenses in QuickBooks Online.
I'm always available at any time if you need further help with any QuickBooks-related concerns. Don't hesitate to click the Reply button below or post in the Community again. Take care!
