Reconciling your bank statement with transactions in DoorLoop on a regular basis is important to ensuring the accuracy of your financial data. This process helps you find and rectify 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.

While bank reconciliation is easy to do, DoorLoop 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. Note this is only available if your bank institution is compatible with Plaid.

You don’t need to use our Plaid integration to perform bank reconciliation, however. The steps below are sufficient!

The goal in reconciliation is simple. For the time period you are reconciling (ideally every month!), you have a starting and ending balance for an account. The starting balance is from the last successful reconciliation you did for this account. If you've never done a reconciliation, this number will be 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 will be matching the transactions to your bank statement, you'll easily be able to see which ones are wrong or missing!

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 and then click Next.

On the New Bank Reconciliation page, you will 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 will be checked by default.

As you do this, the window at the bottom of the screen will keep 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 are missing a transaction, you can use the + Create New button in the upper left to create the necessary expense or deposit.

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

If you find a transaction that you created incorrectly, you will need to edit or delete that transaction.

You can do this from within the reconciliation page by clicking on the three vertical dots icon on the right side of the transaction line and choosing View. Then edit or delete the transaction.

You can also use the Save for Later button and then navigate to and delete or edit the errant transaction. (Review how to do that using this article for editing or deleting Lease Transactions and this article for editing or deleting expenses and bills.)

Once the Difference is $0, you can click Finish Reconciliation to continue.

Note that if the difference isn't $0, you won't be able to save, but you can use the Save for Later button so you can finish the reconciliation at another time without losing your work so far.

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.

If you selected the Save for Later option in the last step, the account reconciliation will save in a Draft status back on the Reconciliation page.

To finish the reconciliation, click on the line and DoorLoop will take you to the reconciliation page to continue your work.