Welcome to Community @cmobilerepair,
Yes, when you enter a loan deposit you can enter the loan amount as a balance in the Account balance box. Let me help you enter a loan account in your QuickBooks Online. Here's how:
- Go to the Gear ⚙ icon, and select Chart of Accounts.
- Click the New button.
- Select the Account Type and also the Detail Type.
- In the name box, enter the PPP loan as the name of the account.
- Fill out the Description (Optional).
- Click the drop-down arrow in the When do you want to start tracking your finances from this account in QuickBooks box, then select Other.
- Choose the date. (e.g. 04/25/2020).
- Enter the loan amount in the What was your account's balance box.
- Click Save and Close.
For more details, check out set up a loan in QuickBooks Online.
In case if you need help reconciling your account, refer to this link: Reconcile an account in QuickBooks Online
If you need further assistance, feel free to leave a message in the comment section. I'm always here to help. Have a wonderful day!
