Hi MrMiyagi,
Thanks for posting in the Community!
This depends on how you've recorded the loan amount in QuickBooks Online. I would recommend reaching out to your accountant to guide you on what's best to record the loan amount.
In QuickBooks you can record the loan amount under a liability account.
- From the Accounting tab, select Chart of accounts.
- Click New.
- From the Account Type ▼ dropdown, select Non-current liabilities.
- On the Detail Type, select Notes Payable (or Loan Payable). Give it a Name.
- In the Unpaid balance field, enter the amount in the account, and determine the as of date.
- Click Save and Close.
When you're ready to pay the loan amount. Use the Expense transaction to record them.
- From the + New tab, select Expense.
- Go to the Category details section.
- On the first line, under Category, select the liability account.
- On the second line, select the expense account for the interest from the Category dropdown.
- On additional lines, add any additional fees.
- Select Save and close.
Then, to close the invoice you can record invoice payment through + New, and click Receive payment.
You can check this link to learn more about Set up a loan in QuickBooks Online.
Feel free to post your concerns in the Community or click the Reply button for follow-up questions. We'll be happy to help. Have a good day!
