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NetSuite Professionals

What is the best way to handle a line of credit in Netsuite?

Do you mean like on customer? It has a Credit limit option.

like if we take a line of credit from a lender.  In the end, we are doing journal entries to move from a long term liability account to a bank account, but not sure how other people do it

i feel like making a payment against bills would somehow be correct, but i couldn't get the accounts to work out that way

We just competed a very similar project for a client. They take a Trade Advance against a set of vendor bills. As part of this we post the drawdown as a Bank Deposit to bank with account selection for the liability account. 