Overview
There may be an instance where you’ll want to transfer funds from one bank account to another. For example, what if you accept online payments and someone pays you both rent and a security deposit, but both payments then go into your operating account? But really, you want these security deposit funds in your escrow account.
With Bank Transfers, you’ll be able to move funds from one account to the other, correct mistakes when money is transferred into the wrong account, or make adjustments where needed.
The Steps
From anywhere in DoorLoop, click the + Create New button at the top left-hand corner.
In the Other Transaction section, click Bank Transfer.
In the Property field, click the property that this bank transfer will be associated with.
In the Transfer Date field, enter the date that the transfer will occur.
You’ll now see two sections called Transfer From and Transfer To.
In the Transfer From section, select the Source Property and Source Account you want to transfer funds out of.
In the Transfer To section, select the Receiving Account you want to transfer the funds into. You do not need to change the Receiving Property.
Choosing a Unit is optional.
In the Amount to Transfer field, enter the amount you want to transfer.
(Optional) Add Memo or upload a file related to this transfer.
Click Save to complete the transfer.
You can view the outcome of this transfer by going to the Transaction Details report and filtering the type by Transfer. You’ll see that funds came out of one account and into another. This can also be viewed under Accounting > Banking and click the two bank transfer accounts. One will show a negative transfer while the other a positive one.
Next Steps