Hi Drisc8. The best way to do this would be to set up a loan in QuickBooks Online. Check out this article for a comprehensive guide on how to record loans. The article will guide you through the proper way of keeping track of your long-term liabilities.

To remove the amounts from you A/p you will simply delete the transactions. If you're not sure whether you should delete or void the transactions, the article on voiding and deleting transactions will be a huge help to you.

If you have any other questions feel free to leave a reply below and I'll be happy to get back with you. Have a great day..