Loan From the bank and repayment with interest

1

I have borrow the money from th bank 10000$ with interest 1% per month
the question is how to key in the principle loan into the system? and how to key in loan repayment with interest

2

Use two line items on the payment form. Allocate the first to the loan liability account. Allocate the second to the interest expense account.

3

This depends if the bank paid the loan to you or directly to a third party’
If paid to you then a “New Receipt” with the Account being a Liability > Loan account.
If to third party then a “Journal Entry” with the Debit being the asset or expense being purchased and the Credit being a Liability > Loan account.