Overview
When your tenants make online payments, those funds are not instantly available to you in your bank account. Instead, there is an ePay Funding Cycle all online payments go through.
You can check on the deposit status and review the online payments you receive by using the ePay Transactions report. You can also find and review the bank deposits for your online payments to see what tenant payments make up a specific deposit.
The Steps
View ePay Transactions (Online Payments)
As soon as one of your tenants pays online, DoorLoop records the payment on their lease. This payment is reflected as undeposited funds until the money is deposited into your bank account. You can quickly see which of these online payments are still pending and which have been deposited.
To quickly and easily review these online payments, click Reports on the main menu and click on the ePay Transactions report in the Accounting section.
On the Transactions List Report, use the filters and select Type > Payment so it will only show online payments made by tenants.
Once filtered, you can see which of your tenant's payments have been deposited and which are still undeposited and still processing.
You can click on any one of the payment items and review more details about the online payment and its corresponding deposit if it has already been deposited into your bank account.
To review the bank deposit, click on the View Deposit button within the Receive Payment window.
View ePay Deposits and Which Payments Make Up Those Deposits
When payments are processed, these will be deposited into your bank account. These can be either single payment deposits or bulk payment deposits which appear as a single deposit. This occurs if you are receiving multiple online payments that happened on the same day. In this instance, they all finish processing on the same and can thus will be sent to you on the same day in one deposit.
In DoorLoop, we create these bulk payment deposits for you, clearly showing which tenant payments make up specific ePay deposits.
To find and review a specific bank deposit for your online payments, click Reports on the main menu and then click on the Deposit Detail report under the Accounting section.
The Deposit Detail report shows all deposits made in the last 7 days by default. However, you can use the filters to select any time period.
You also want to filter the Payment Method for ePay. This way, the report will only show deposit made that include ePays from tenants.
The report will show the main deposit and the Deposit Reference #. Under the deposit, it will show all the payments or items that make up the deposit. These will show the reference number for each of those transactions.
If you click the transaction in the deposit, you'll be able to see greater detail about the deposit.
Note: You will not be able to edit or delete bank deposits DoorLoop automatically creates when tenant portal payments are deposited into your bank account. This prevents you from deleting deposits DoorLoop knows you received and ensures your accounting and reports remain accurate.
For more information about the Deposit Detail report, read the article: Deposit Detail Report.