Overview
Creating your existing leases in DoorLoop uses the same process as creating a lease that is just beginning. The difference is that you will enter existing lease deposits differently and decide whether or not to enter historic charges and payments.
Entering Existing Deposits
However, on step 4 of lease creation there will be some slight changes.
You still enter a deposit charge by selecting Yes for Security Deposit and entering the deposit amount below.
(Optional) Click Show Advanced Options. This will bring up an extra field to enter the date of when the deposit was received.
(Optional) Add additional deposit charges if needed. (You can change the Deposit Received Date to the past date you originally charged for the deposit!)
Continue with the lease creation and click Finish when completed.
Additional Consideration
If the Lease Start Date (not to be confused with the First Rent Date) was before your DoorLoop Company Start Date, DoorLoop will automatically mark those deposits as collected.
Instead of your tenant making a new payment for the charge—which adds money to your bank account balance—DoorLoop now creates a credit to show that the tenant has already paid the deposit charge and the money is currently in one of your bank accounts.
You may have noticed when reviewing the deposit on the Deposits tab that the date of the deposit payment is the day you actually created the lease credit. For example, if you created it today, it will show today's date.
This is because DoorLoop needs to account for when the credit was actually applied to the deposit charge for standard accounting purposes. We do this by creating a separate payment line item on the lease Transactions tab that ties the credit and the deposit charge together. The payment line item will be for $0.00, but if you click on that transaction, you'll see the deposit charge and credit listed together.
You can change the date of this $0.00 payment transaction line to match the date of the credit so you can see these transactions grouped together on the Transactions tab.
To do this go to the Transactions tab of the lease and click on the Payment line that will say -- Split Values -- and have an amount of $0.00.
Change the Date field to match the date of the deposit credit, and then click Save.
Note that because these deposits are already in one of your bank accounts, it is important to set up your bank account opening balances correctly to include these deposits. If your accounting start date and opening balance for this bank account is actually BEFORE you collected the deposit, then you wouldn't record a credit, but would record a lease payment instead.
Entering Historic Charges
We recommend sticking with creating new charges going forward from your accounting start date and using your previous property management system for historic charges. However, you can create past lease charges and payments if needed.
Creating Charges
On the main menu, click Leasing and then click Active Leases, find the lease you want to enter historic data for, and click on it.
Click on the Transactions tab.
Click on Post Charge button to create the necessary charges. Refer to this page for more information on creating lease charges manually.
Click Save.
Creating Payments
If you are recording tenant payments from AFTER your accounting start date, click on the Lease Payment button. Refer to this page for more information on creating lease payments manually.
Click Save.
Creating Credits
If you are recording tenant payments from BEFORE your accounting start date, click on the Issue Credit button and enter the following:
Date Issued: Enter the date you received the payment.
Account: Select the Opening Balance equity account, because this money is already in a bank account and will be recorded in that bank account's opening balance.
Description: Add an optional description to help you recognize this credit in the future. For example "monthly rent payment" or something similar.
Amount: Enter the amount of the payment.
Click Save.
Next Steps
View and edit your leases by going to Leasing and selecting Active Leases to see your current leases. To view and update leases you created in a draft status, choose Draft Leases.