Loan Taken Entry

Loan taken from bank

Create account under loans (Liability)
Then create an income transaction under Transactions > Income > Create

Received into : Cash/Bank
Received From : Loan’s A/c

To calculate interest, Go to Interest Calculation Report under Other Reports
Enter the interest rate and select the account, it will calculate and show you the interest amount calculated.

After calculating the interest, you need to pass a journal entry
Create a journal entry under Transactions > Journal > Create

Interest A/c (under Direct Expense) Debit

Loan A/c Credit

When you are paying interest or EMI or loan amount

Then create an Expense Transactions under Transactions > Expense > Create

Paid from : Cash/Bank
Paid to : Loan A/c

Also you can see the Ledger Report of your loan account, it will show you that how much amount is still pending and how much amount you have paid.