Need HELP with creating a LOANS entry
Hey guys, i'm really new to this whole accounting thing. I recently received a loan from a party and since my bank is connected to my account it has automatically been added to the accounting section. I have tried to put it under loans but it ends up creating another entry with the same loan amount. I was wondering how do I make a proper entry for this? Also I have just paid the amount back. How and where do I file both the receipt and payment of said loan?