New Liabilities Account

Hello, Hannah. 

I'll share a guide on how to set up your loan account as a lender in QuickBooks. 

Setting up and tracking loans as a lender can be done using an asset account. There are various account types when creating an account in QuickBooks.

The loans normally fall under Current assets (usually for short-term loans or payable within the current fiscal year) or Non-current assets (long term loans or payable after the current fiscal year). 

First thing's first, create an asset account: 

1. Go to the Accounting menu, then click the Chart of Accounts tab.
2. Click the New button.
3. Set the Account Type to Current assets or Non-current assets.
4. For the Detail Type, set it to Loans to others (Current assets) or Other non-current assets (Non current assets).
5. Set the name to something like "Loans to Company ABC" or similar.
6. Click Save and Close. 

Issuing a loan and recording the payments depend on how you handle those transactions. There are several options such as using a journal entry or using a service and an invoice to record the transactions. 

I would recommend checking this article for the options and the steps on how to do this: Track customer loans.

Although, I would still recommend consulting an accountant regarding the loan tracking procedures. They can guide you on how to use your accounts to track the loans and ensure your books are accurate. 

If you need to use the Reports feature to check your loans and other transaction data, you can check this article for a guide: Run reports in QuickBooks Online.

Do you have any other concerns about recording your transactions? Or do you need to set up other things in QuickBooks? Let me know and I'll definitely guide you through the process.