I am paying off a couple of loans for my business. Now the money is off my bank account. but i dont know under which account to log it.
If you have loans, you should have created an account for them. There are a couple of possible approaches. You can create a bank account named for the loan, but a bank account is normally an asset account, so you will have to remember to use negative numbers. That is, the balance of the account should be negative. A more traditional approach would be to create a liability account. That way, when you credit your payment from your regular bank account, you would debit the liability account and the loan balance will decrease.
Thanks for the reply. Just one more thing, If I create a liability account, can I make it to automatically add intrest every month or will I have to add it manually?
Do it manually. From your bank account, use the Spend Money function. Allocate the first line to the loan account as a payment of principal. Add a second line allocated to interest expense.