@csoffice Judging by your picture, you did not set the opening balance correctly. This may be a result of using the function to create an opening balance when you originally set up the account as a bank account instead of a liability account, but until I see the details of the entry you made, that is just speculation on my part. Bottom line is that the entry that created your original balance for the loan is debiting the Liability account when it should be crediting it.
While you may create a Fixed Asset at the same time you create a loan, they are not one and the same. The Fixed Asset is what you spend the loan money on and represents an asset. The loan is the amount you owe somebody as a result of them giving you the money to buy whatever it is you wanted to buy and represents a liability.
As far as short-term or long-term, it's just a matter of whether you expect to pay it off in a year (short-term or current) or if you expect to take longer than a year to pay it off (long-term).
In this case, there are two ways you would generally account for your transaction depending on how you handled the loan money.
If the loan money was deposited into your bank account first and then you wrote a check for the vehicle, you would first create an entry setting the Loan against the Bank. The appropriate GJE would credit the Loan by the loan amount ($93,327 in this case) and debit the Bank by the loan amount, increasing the balance of the Loan and Bank.
You would then use the Write Checks window to write a check out of the Bank account in question choosing the Fixed Asset account at the bottom.
If you took the loan money and handed it to a car dealer directly for the vehicle such that the loan money never touched the bank, the GJE would be the same, only with the Fixed Asset being debited instead of the Bank.
If your previous loans were somehow actually set up as fixed assets and not loans, I would suggest getting in touch with your accountant; that sounds like things may need sorted out with the history of your books.
