As a general rule, when you set up operating lines of credit, you will enter them into the liability section. When you do the opening balance, you will enter it as a positive number if it an amount you owe. The opening balance of your bank account, then, is done separately.
When you make LOC payments, you will then do a withdrawal from the bank account (if that is where the payment comes from), and offset to the line of credit (as an L- in your type).
If you need further information, please let me know!
