Create a heavy equipment account under fixed assets and a Long-term
liability (Loan period 5 years) account for the Financer. Now go to the
banking menu and select make journal entry then debit the Equipment
accounts and credit the Liability account. Go to the bank menu again
and select the write check option and issue a check for initial down
payment, in this case select the liability account in the Account
column. In the same way you can pay the installments by issuing checks.
If the amount of installments remains same you can use the memorization
option for issuing checks.