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All CollectionsRentals (Property Managers)Getting StartedModule 1: Getting Started With the Basics
Add a Bank Account
Add a Bank Account

Add your bank accounts in DoorLoop to track money coming in and going out.

Samuel avatar
Written by Samuel
Updated over a week ago

Overview

We realize everyone’s business is different. Some will have separate bank accounts for every property, and some will use a single bank account for everything. DoorLoop allows you to add and track all your bank accounts in one place.

By default, DoorLoop provides a bank account named Operating Account, which you can choose not to use, or rename if you’d like.

Tip: You can add as many Bank Accounts as you want in DoorLoop. You can also choose to apply for merchant accounts for each so you can take payments from your tenants.

The Steps

Add a Bank Account

  1. To add a new bank account, click Accounting on the main menu and then click Transactions under the Bookkeeping section.

  2. On the Transactions page, click on the + New Account button in the upper-right corner.

  3. In the Account Info section, set the Type as Asset > Bank.

  4. Enter an Account Name for your bank account. For example, you can enter your banking institution and the last four digits of the account number so you don’t mix up your accounts.

  5. You can choose whether or not to enter a Description.

  6. Click Save and the bank account will now appear on your list of bank accounts.

  7. Repeat if you need to add more bank accounts.

Rename Bank Accounts

If you created your bank accounts and need to change the names on them, you will be able to change them easily. You can also rename the default Operating Account with this method as well.

  1. To change the name of your bank account, click Accounting on the main menu and then click Transactions under the Bookkeeping section.

  2. Click on the 3-dots icon on the right side of the line item for the bank account name you want to edit and choose Edit.

  3. Change the Account Name to what you want it to be.

  4. Click Save and the bank account will be renamed on your list of bank accounts.

Next Steps

  1. Learn how to set up a merchant account on a bank account you just created if you intend for your tenants to pay online into this account.

  2. If you have different bank accounts for different properties, make sure you have set the default bank accounts for your properties.

  3. Set an accounting start date and opening balance for your bank accounts to let DoorLoop know when you are beginning your accounting in DoorLoop. This is crucial in making sure your reports and accounting will be correct!

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