Reconciling your bank statement with transactions in DoorLoop on a regular basis is important for ensuring the accuracy of your financial data. This process helps you find and fix discrepancies between your bank statement and DoorLoop transactions. In fact, Reconciliation is the first place to start when you notice your reported account balance in DoorLoop doesn't match your actual bank account balance.

DoorLoop also offers an additional tool to help you match DoorLoop transactions to those in your bank account. Importing transactions from your bank account via Plaid helps automate matching them to transactions in DoorLoop. This is only available if your bank institution is compatible with Plaid.

You don't need to use the Plaid integration to perform bank reconciliation, however — the steps below are sufficient on their own.

The goal in reconciliation is simple. For the time period you're reconciling (ideally every month), you have a starting and ending balance for an account. The starting balance is from the last successful reconciliation you made with this account. (If you've never done a reconciliation, this number is the opening balance for the account.)

The difference between these two numbers is compared to the total of the transactions you've entered in DoorLoop for that account. The difference should be $0. If it isn't, you have missing or incorrect transactions entered into DoorLoop. Since you'll be matching the transactions to your bank statement, you'll easily be able to see which ones are wrong or missing.

On the New Bank Reconciliation wizard, in the Bank Account step, select the account you want to perform reconciliation for using the Account drop-down menu.

The Statement Beginning Balance shown is the balance from the date of your last successful bank reconciliation for this account. If you've never done bank reconciliation in DoorLoop for this account, the amount and date shown is your opening balance entry.

Using your bank statement, enter the new Statement Ending Balance and the Statement Ending Date.

Click Next to continue.

On the New Bank Reconciliation page, in the Match Transactions section, you'll reconcile all transactions from your last reconciliation — or opening balance, if you've never reconciled — up to the reconciliation end date you chose in the last step.

Do this by comparing the line items from your bank statement to the line items shown in DoorLoop. Check off the transactions you've matched until all are accounted for. (If you've connected your bank to import transactions via Plaid and matched them to transactions in DoorLoop, these matched transactions are checked by default.)

As you do this, the window at the bottom of the screen keeps a running total of the Cleared Balance (the total of the boxes you've checked) and the remaining Difference between the account's beginning and ending balances.

If you find that you're missing a transaction, use the Create New at the top of the main menu to create the necessary expense, deposit, or payment.

Once you've created the new transaction, the reconciliation page refreshes and you'll see the new transaction added as a line item to reconcile.

If you find a transaction that you created incorrectly, you'll need to edit or delete that transaction. Use the Save For Later button, then navigate to and delete or edit the errant transaction. (See Edit a Charge on a Lease for lease transactions, or Edit or Delete an Expense, Edit or Delete a Bill, or Edit or Delete a Bill Payment for other transaction types.)

After you have entered all the missing transactions or edited any incorrect ones, and the Difference is $0, you can click Finish Reconciliation to finish.

DoorLoop then takes you to the Reconciliation Report page where you can review the reconciliation work you just did. When you are finished reviewing, navigate away to whatever part of the software you want to use next.