In DoorLoop, the amount of money accounted for in a bank account is listed as its DoorLoop Balance.
If you’ve entered the opening balance and all transactions correctly for the bank account, the DoorLoop Balance should match your real-world bank balance.
What if the DoorLoop Balance doesn't match the actual bank balance?
There are two possibilities:
You entered the wrong opening balance.
Easy to correct by editing your opening balance.
You’re missing transactions in DoorLoop or have entered them incorrectly.
The second problem will take more investigation, but is often resolved when you complete the important step of bank reconciliation.
DoorLoop assists bank reconciliation with our bank connect feature through Plaid.
To view an Account Register report:
From the left menu, select Accounting, then Banking.
Find and click on the name of the bank account you want to view.
Filter the report for the time period needed and review your transactions.
If you find a bank transaction you need to correct, you can click on it and edit or delete it depending on the type of transaction it is.
Deposits: If this was a deposit you created for a lease payment, you will need to delete this deposit, edit the lease payment, and then create a new bank deposit. If this was a deposit you created unrelated to a lease payment, you can edit the deposit directly.
Expenses: you can edit and save these directly.
Journal Entries: you can edit and save these directly.
Refunds: you can edit and save these directly.
Your corrections update your DoorLoop Balance, so once you find and fix all incorrect transactions, this number will match your real-world bank balance!