In QuickBooks Desktop, create a loan. Step 1: Create a liability account to track your debts. To begin, create a liability account to track the loan: Step 2: Keep track of the money you received from the loan. You now have a bank account with the entire loan amount in it.Step 3: Make a note of the loan repayment. To make a journal entry for the loan, click the "Journal Entry" icon. Choose the...