Let me assist you in recording your loan payments.
Since the loan was not recorded in the first place, we have to record it first before recording a payment. This way, your reports will not display a loss if you only record it as an expense. Follow the steps below to set up a business loan, enter an opening balance, and record the payment.
First, create a liability account for the loan.
Next, enter the “USD10, 000” as an opening balance.
Lastly, record the payment.
The set of steps I've shared is a general way on how to record loans in QuickBooks Online. But I still recommend contacting your accountant for further accounting-specific help.
If you don’t have an accountant available, you may visit our ProAdvisors page. You can contact one of our ProAdvisors and ask them for accounting advice.
If you have other questions, feel free to leave a comment below.