Hello there, hsolis328.
Regardless of the year, the opening balance you entered in the equity account for your short term loan will show up in your balance sheet since it'll display all your business financial details.
Before removing or setting up a new account, I'd recommend consulting your accountant. They can guide you in properly recording your short term loan to make your books accurate.
In case you encounter some issues while you reconcile, you can refer to this article: Fix issues when you're reconciling in QuickBooks Desktop. It contains detailed steps on how to find and fix the issue so you can finish reconciling.
Please let me know if you have other concerns. I'm just around to help.