Adding a Long Term Loan

1) In File>General Ledger>Chart of Accounts, create account codes for both.

For Example:  A Vehicle would be asset (debit), Bank Loan would be liability (credit).

2) Make a journal entry - debit the Asset and credit the Bank Loan entering the value in each field/debit and credit fields

3) When you pay the loan payment, code to loan account, this will reduce the balance you owe.