Hi there, @dadcowell.

Yes, you can create a journal entry debiting the loan and crediting open balance equity to record the 12,000 difference. 

I'd suggest reviewing your bank statement when recording this transaction in QuickBooks. This will ensure that your QuickBooks record matches with your real-life bank account. 

To make sure your journal entry is accurate, I'd recommend reaching out to your accountant. They can review your records and provide you with the right info to make sure your books are correct. 

With regards to recording loans and their payments, you can check out this article as your guidance: How to set up your liability account to track the loans and pay them in QuickBooks.

In addition, you can use this resource as a reference to know the basic accounting terms QuickBooks: Learn common accounting terms.

If you have further questions about recording loan differences or other QuickBooks-related concerns, just add them to the thread. I'm always here to help you out. Have a good one.