Overview
DoorLoop lets you assign bank accounts at two levels: a company-wide default that applies to all properties, or property-specific accounts that override the default for individual properties.
It's important to understand how DoorLoop bank accounts relate to your actual payouts:
The bank account you assign in DoorLoop tells DoorLoop where to record that funds belong — it's used for your books, reports, and transaction history.
Actual payment deposits go to whichever bank account is set as your payout account in Stripe, DoorLoop's payment processor.
If your DoorLoop bank account assignment and your Stripe payout account don't match, funds will deposit into whichever account Stripe has on file — not necessarily what DoorLoop shows.
Before assigning property bank accounts, confirm your Stripe payout account is set correctly. See Update Your Business Verification Information to verify or change where Stripe sends payouts.
Tip: All online payments from a tenant — whether a rent payment or a security deposit payment — go to the bank account set as the Operating Bank Account (also called the Default Operating Account). Security deposit payments paid online will not go to the Escrow account; you'll need to record a bank transfer if you need to move these funds to an Escrow account. See Record a Bank Transfer.
The Steps
To set up your default bank accounts for all our properties, click Settings on the main menu. Then under the Company Defaults section, click Bank Accounts.
On the Bank accounts settings page, you will have 2 options:
Operating Account - When tenants make online payments for their lease charges, the payments go into the default Operating Account.
What you choose here must be a bank account that has a merchant account attached to it if you want to receive online payments.
Security Deposit Account - When you record manual payments on a tenant's lease, you can use this account as the second bank account deposit option. If you'd rather have each property use its own escrow account, your property needs to be set to use property-specific bank accounts.
This bank account is usually used for recording payments made for lease deposits, since many states require security deposit money to be kept in a separate bank account. You can use it for other purposes if you'd like.
The Trust/Escrow Account will never receive online payments directly into it, regardless of whether the payment is intended for a security deposit or not.
Note: Company-level defaults apply to all properties unless you override them at the property level (see below). All new transactions are recorded against these accounts going forward.
Tip: Changing the default bank operating account will cancel any auto-pays your tenants may have set. This is to ensure their auto-payments don't go into the wrong bank account. Have your tenants recreate their auto-pays after the change.
Property-Specific Bank Accounts
If you want to set property-specific Bank Accounts settings, click Customize on the Customize by Property banner. For more details on how this works, see Customize Settings by Property or Lease for detailed instructions.
Verify Your Stripe Payout Account Matches
After assigning bank accounts in DoorLoop, confirm that your Stripe payout account reflects the same bank — otherwise funds will deposit somewhere else. See Verify Payout Account on Merchant Account for the full steps.
View All Property Bank Account Assignments
Use this to audit which bank accounts are assigned across all your properties at once.
Click Reports on the main menu. Then search and click the Property Bank Accounts report.
On the Property Bank Accounts report, you'll be able to see all your properties entered in DoorLoop along with two columns that show the Operating Account and Trust Account attached to it.
If you need to make any changes, you can do so in bulk. See Bulk Update Default Bank Accounts.
Your property bank account assignments are now set up and ready to use.
Note: If you notice tenant payments going into the wrong bank account, start by checking these settings — first the property-specific bank account settings, then the company default. If those look correct, the issue is more likely with your payout bank account instead. See Update Your Business Verification Information to check or correct where your payout account is set.