Overview

Reconciliation is the process of making your DoorLoop accounting consistent with the balance reported on a bank statement from your financial institution. Any difference between the two needs to be examined and fixed.

Connecting your bank accounts in DoorLoop to your actual financial institution via Plaid does not reconcile your account in DoorLoop. Instead, this connection via Plaid is meant to import your transaction data so you can match these real-world bank transactions to your transactions in DoorLoop.

If connecting via Plaid doesn't reconcile for me, what does it do?

Importing real-world account transaction data from your financial institution into DoorLoop can speed up the bank reconciliation process.

When you match DoorLoop transactions to these bank account transactions on the BankConnect page, these DoorLoop transactions will be auto-selected when you perform a Reconciliation. (They will also have a "C" in the Cleared column.) They are essentially "pre-approved" because they were already matched and you verified the match.

This auto-selecting will save you some time, but isn't necessary to complete the process. You can still compare the DoorLoop transactions to your financial statement and mark them off yourself.

On my account register report, how do I tell the difference between reconciled transactions and those cleared via Plaid?

When you view your account register report, you'll see a "C" in the Cleared column for all transactions matched via Plaid. Reconciled transactions will have an "R" in the Reconciled column.

To view account register reports, navigate to Accounting < Banking and click on the line for the account you'd like to view, or click on the three vertical dots icon and choose View Register.

What if I can't connect to my bank via Plaid to match transactions?

This is ok! Plaid doesn't work for everybody. You don't need to match transactions imported via Plaid to perform actual bank reconciliation. Matching transactions via Plaid only ensures these matched transactions are auto-selected when you perform a Reconciliation.

Instead, you'll compare your real-world financial statement with DoorLoop transaction data during the Reconciliation process, clicking the checkboxes for the DoorLoop transactions as you reconcile them with your statement.

Did this answer your question?