Unfortunately, sometimes your tenants might make payments that later get reversed, such as a bounced check. When this happens, you can record it in DoorLoop for later reference.
From the main menu, select Leases < Active Leases.
Find the lease you need to record a reversed payment for, and click on it. You can either sort the list by the various columns and filters or use the Search leases search bar.
Click on the Transactions tab and find the Payment transaction that later reversed. Then click on the vertical three dots icon on the right side of the transaction line and choose Reverse Payment.
In the Reverse A Payment window, set the Returned Payment Date and add an optional note, then click Save.
That’s it! Not only has the lease ledger updated to show that the tenant owes money, your financial reporting updates to show this payment was reversed.
If you have your Rent & Payment Notifications set to send out returned payment emails, the assigned DoorLoop users and tenant(s) involved will get emails notifying them that their payment has been returned. Note that you have to have emails entered for your tenants for them to get these emails.
If you accidentally reverse a payment, you can delete the reversal from the Transactions tab of the lease by clicking on the vertical three dots icon on the right side of the Reversed Payment transaction line and choosing Delete.
This updates the lease ledger and all reporting, but will not notify the tenant that the reversal was a mistake, so make sure you use DoorLoop’s communication features to message the tenant explaining what happened.
Late fees will automatically charge retroactively for this reversed payment depending on your late fee settings, but this may take several hours to process.
If you want to charge a fee for the reversed payment, you can do that by posting a charge on the lease.
You’ll likely want to create a revenue account in your Chart of Accounts specifically for this reversed payment/chargeback fee so you can track this revenue correctly on your Profit and Loss report.
For online payments tenants make through their tenant portal, reversed payments are automatically recorded and returned payment fees due to the payment processor get charged to the tenant automatically.
Another great reason to use DoorLoop’s online payments feature!