Overview
DoorLoop automatically creates bank deposits for online payments made through the tenant portal. For manually recorded tenant payments or revenue collected outside of DoorLoop (such as interest), you can set the payment to deposit itself when you create the payment. However, if you don't create a bank deposit at the same time as the payment, you can deposit the money after the fact.
The Steps
Record a bank deposit from a tenant lease payment
Remember from Accounting 101 that the revenue part of the accounting cycle includes making bank deposits for payments. This records that these funds are no longer undeposited funds and are now deposited into your bank account.
(For example, you charge your tenant for rent, and they give you a check. You record this payment on the tenant's lease, but this money shouldn't reflect in your bank account until you deposit the check.)
If you have a payment that is appearing as undeposited, you can record the payment as deposited by clicking the + Create New button in the upper left corner and choosing Bank Deposit under the Other Transactions section.
On the Bank Deposit window, under the Deposit Account field, select the bank account you wish to deposit the undeposited payment into.
In the Undeposited Funds for *Bank Account name* section, select the payments and/or owner contributions included in this bank deposit.
Enter the date you deposited the payment or payments in your bank account in the Transfer Date box.
If you need to print a deposit slip, select Print Deposit Slip at the bottom left corner. This will save the deposit slip to your default download location.
Add any relevant files and click Save.
Tip: You can also automatically create a bank deposit at the same time you manually record a lease payment. Perhaps you already deposited the money or received it electronically outside of DoorLoop, through Zelle for example.
Record a bank deposit for revenue not related to a lease
If you collect revenue that doesn't need to be recorded on a tenant's lease, or if you have other bank deposits unrelated to DoorLoop affecting your bank account balance, you can still record these bank deposits in DoorLoop.
To record a bank deposit for funds not related to a lease, click the + Create New button in the upper left corner and choose Bank Deposit under Other Transactions.
On the Bank Deposit window, under the Deposit Account field, select the bank account you wish to deposit the undeposited payment into.
In the Other Deposit Items section, complete the following:
Property: pick the property associated with this deposit. This deposit reflects on the accounting reports for this property.
Unit: pick the unit associated ith this deposit.
Category: choose the correct general ledger account for the deposit. For example, you could create a revenue account in your chart of accounts for vending machine revenue.
Description: (optional) enter an optional explanation for the deposit. What you enter here you will also see in the “Memo” column on accounting reports.
Amount: enter the amount of the payment.
Payment method: (optional) pick among several options for informational purposes. Choosing Check allows you to record an optional Check Number.
Reference: (optional) add your own internal reference number.
Received from: (optional) you can record who paid you this deposit by choosing from Vendor, Owner, and Tenant and then picking from your list of each.
Note that this does NOT put a payment on a tenant lease. If you need to record a tenant lease payment, record it from their lease.
+ Add Line Item: (optional) use this link to add additional deposit items if needed. You could also create separate bank deposits for each line item.
Add memo: (optional) add additional information for your reference when reviewing the deposit later.
Enter the date this was deposited in your bank account in the Transfer Date box.
If you need to print a deposit slip, select Print Deposit Slip at the bottom left corner. This will save the deposit slip to your default download location.
Add any relevant files and click Save.
That's it! These deposits will show up in the appropriate accounting reports, such as the profit and loss report for revenue deposits and the balance sheet for equity deposits.
Next Steps