How do I enter a new loan I have taken out from the bank?

We recommend you create a new nominal in the Liability group and post a bank receipt to your relevant bank using your new nominal. 

When paying back your loan, post a bank payment with the capital amount being posted to the loan nominal and the interest posted to your interest charges in the Overheads group.  

An alternative method would be to setup the loan account as a bank account and enter bank transfers from one account to the other, however, we do not generally recommend this method as you cannot see the cash movement on your cashflow reports.