Thank you for getting back here in the Community, @Framing1975.
Yes, since there is a new checking account that is created for the loan, you can select that when you're about to record the payment.
Here's how to record a loan payment:
- Go to the New button and select Expense.
- In the Payee field, enter the business or person you received the loan from.
- Select the bank account holding the loan you'll use to make payments from the Payment account drop-down.
- Enter the Payment date and select the Payment method from the drop-down.
- You can use the Ref no. field to enter any identifying number from the payment receipt. This is optional.
You'll need to enter the payment, interest, and bank fees as separate line items in the Category Details section.
To enter the loan payment:
- Pick the first line.
- From the Category drop-down, select the account you used to track this loan.
- Enter the total amount of the loan payment in the Amount field.
For more information, please refer to this article link: Make a loan payment in QuickBooks Online.
I've also attached here a helpful article that can help you in managing your loans in QuickBooks Online: Loan in QuickBooks Online.
If there's anything else I can help with, feel free to post down below. Take care always and have a good one.
