Overview
Once you've decided on an accounting start date for your bank account, it's time to implement that date in DoorLoop. Whether the date is now, in the future, or in the past, you'll need the following information:
Bank account opening balances — from your bank statement
Uncleared bank transactions — undeposited payments, both incoming and outgoing
Tenant carry-forward lease balances — what your tenants owe
Bank Account Opening Balances
To accurately track a bank account balance, DoorLoop needs an opening balance amount. All revenue to this bank account is added to — and paid expenses get subtracted from — this opening balance amount.
The opening balance is the amount in the bank account at the end of the day prior to your accounting start date. For example:
If you're starting on the 1st of a month, enter the ending balance from the last day of the previous month.
If you're starting at the beginning of this year, enter the balance on Dec. 31 of last year.
As you use DoorLoop, if you've entered your opening balance and all transactions correctly, the resulting DoorLoop Balance will match your real-world bank balance.
Uncleared Bank Transactions
When you set an opening balance, there may be uncleared or pending transactions for this bank account. It's important to note these transactions, since they won't be included in the opening balance amount.
For your DoorLoop Balance to accurately reflect your real-world bank balance, these pending transactions need to be created in DoorLoop, since they weren't included in the opening balance amount.
It's okay if the payment or expense dates you enter in DoorLoop are before your accounting start date — they'll still add to or subtract from the opening balance. This is also why it's important not to create payments and expenses already included in your opening balance — they'll essentially be counted twice in your DoorLoop balance.
To create lease charges and payments for pending rent deposits not included in your opening balance, see Lease Transactions Overview.
For uncleared expense payments, see Create an Expense.
Alternate advanced method: edit your bank account opening balance to include the uncleared transactions.
Tenant Balances
When you choose an accounting start date, your tenants may either owe money or have lease credit from early or overpayments as of that date. If so, this needs to be reflected on their leases so future lease transactions reflect the true running balance.
Enter a Beginning Balance Owed on a Lease
To enter a beginning balance owned on a lease, click Leasing > Leases on the main menu. Find and click on the lease you need to enter a balance for.
On the lease, click the Transactions tab and click on the Post Charge button.
On the Post Charge window, enter the following information:
Due Date - enter the accounting start date.
Category - pick the revenue account of the charge still owed.
Description (Optional) - enter something like “Carry-forward balance” to help you remember why you created this charge.
Amount - Enter the amount owed.
Add additional charges to other revenue accounts using the Add Line Item link as needed.
Click Save when you are finished.
Enter a Starting Credit Balance for a Lease
To enter a starting credit balance for the lease, click Leasing > Leases on the main menu. Find and click on the lease for which you need to enter a balance for.
On the lease, click the Transactions tab and then click on the Issue Credit button.
On the Issue Credit window, enter the following information:
Date Issued - enter the accounting start date.
Category - pick “Opening Balance” because this money is already reflected in the opening balance of one of your bank accounts.
Description (Optional) - enter something like “Carry-forward balance” to help you remember why you created this credit.
Amount - Enter the amount of the credit
Click Save when you are finished.
With your accounting start date set, opening balances entered, and pending transactions accounted for, you're set to track all future transactions in DoorLoop.