How to Record a Loan Receivable in QuickBooks
Create Loan Account
Click the "Chart of Accounts" icon in the Company section of the home screen.
Click "Account" from the menu and choose "New." Select "Other Account Types" and choose "Other Current Asset" if the loan will be repaid this year or "Other Asset" if it won't be paid this year. Click "Continue."
Create Loan Transaction
Record the loan amount with a journal entry, for example to clear the customer's receivables balance with the loan. Record the loan amount with a check if you're lending cash to the customer.
Click "Write Checks" in the Banking section of the home page to loan cash. Select the banking account from which the company is funding the loan and the date of
the loan. Enter the loan amount in the "Debit" column. Complete the check with the customer's name, address and a memo describing the check as a loan to the customer. Choose the loan account you created in the lower part of the screen. Click "Save & Close."
Record Loan Payments
Separate the loan payment into its two components: payment on principal and interest payment. Click the "Record Deposits" icon in the Banking section of the home screen. Select the proper account for loan repayment and the date of the payment.
Click to enter a second line in the deposit. Enter the customer's name, choose an interest income account and enter the amount of the payment for interest. Complete the remaining fields with the same information you entered in the first line.Source: yourbusiness.azcentral.com