Overview

DoorLoop sets default accounts in your chart of accounts to be used for automating your accounting. This helps so you don’t have to set these accounts over and over again as you add properties and certain transactions.

For example, you can set default bank accounts for all of your properties and only set different bank accounts for a property if needed.

The Steps

Step 1

Click on Settings on the left-hand menu.

Step 2

Find and click on the Default Accounts button in the Company section.

Step 3

Set the following default accounts:

Bank

Income

  • Rental Income: The default account for rent charges, this is the only account whose charges trigger lease late fees by default.

  • Application Fee: When prospective tenants pay online for submitting rental applications, the revenue records to this account.

  • Late Fees: When you set late fee schedules for your company and properties, this account will be selected by default.

Liability

  • Security Deposit: Currently for your information only.

Expense

  • Management Fees: Currently for your information only.

Equity

  • Owner Contribution: When you create an owner contribution, this equity account is used by default.

  • Owner Distribution: When you create an owner distribution, this equity account is used by default.

Step 4

Click Save when you are done making changes.

These accounts will now be your defaults, but you can change them later if you'd like.

Did this answer your question?