Overview
Connecting your bank accounts to Plaid through DoorLoop keeps your DoorLoop transactions and real-world bank transactions in sync. Plaid is a trusted service that helps you download your bank transactions and match them to those in DoorLoop, keeping your accounting accurate and up-to-date.
Keep in mind that importing transaction data via Plaid isn't a replacement for actual reconciliation, which is the true method for ensuring your accounting is correct. See Bank Transactions vs Reconciliation to learn more about the difference between importing transactions via Plaid and actual reconciliation.
Note: Importing transactions with Plaid is not available to Starter Plans. Consider upgrading to the Pro or Premium Plans to access this feature.
The Steps
To connect your bank account to Plaid for transaction matching, click Accounting > Transactions on the main menu.
Find the bank you want to connect, which should show Bank Not Connected under the Bank Account Name column. Click Import Transactions to the right of the bank account you want to connect.
If you haven't entered an opening balance for this bank account, you'll be asked to Set Opening Balances. BankConnect will sync all transactions into DoorLoop as of the Accounting Start Date going forward. For more information on entering opening balances, see Set Up the Opening Balance and Accounting Start Date of a Bank Account.
Click the Connect Account button. If you've already connected to a bank before and need to connect to a different bank, click Connect another account.
Follow the prompts from the Plaid portal, and log in with your credentials for that bank.
Select the accounts you'd like to connect. It's recommended to select all your accounts, so they'll be available later to connect to other bank accounts in DoorLoop when you repeat this process.
Click Continue once all your accounts have been selected.
Link your bank account to your DoorLoop account by clicking on the specific bank account you'd like to link.
Your bank account is now connected to DoorLoop.
Any new transactions from your bank account are automatically synced and ready for matching. Once connected, see Import Transactions with Plaid to match your imported transactions.
Note: It may take some time for your real-world transactions to update and show in DoorLoop — normally up to 24 hours, depending on your financial institution and account type. Plaid might not integrate well with your bank account; you can learn more about that through Plaid here.
Your next step after setting up transaction matching with your bank is to match your transactions to those in DoorLoop. See Import Transactions with Plaid.