Accounting Basics
Core accounting concepts in DoorLoop — chart of accounts, journal entries, and how property accounting works.
By Samuel and 1 other2 authors25 articles
Chart of Accounts OverviewTrack all your general ledger accounts, monitor balances, and manage income, expense, and liability accounts in DoorLoop's chart of accounts.
Set Up Your Chart of AccountsAdd and customize accounts in DoorLoop's Chart of Accounts — create revenue, expense, and liability accounts for your specific accounting needs.
Edit an Account Category in the Chart of AccountsRename or fix typos in your DoorLoop chart of accounts categories—edit expense, revenue, or liability account names anytime from accounting settings.
Make an Account Inactive in the Chart of AccountsIf you no longer need a specific account to show up anymore in your Chart of Accounts, you can make it inactive.
Add a Bank Account to DoorLoopAdd your bank accounts in DoorLoop to track money coming in and going out.
Set Up Your Default AccountsControl defaults for the chart of accounts to assist in automating your accounting.
Make a Bank Account InactiveStop a bank account from appearing in DoorLoop without losing any of its transaction history.
Set Up the Opening Balance of a Bank AccountSet the opening balance and accounting start date for each bank account so your DoorLoop records match your real-world bank balances from day one.
Choose an Accounting Start DateChoose an accounting start date in DoorLoop to define when detailed transaction tracking begins—everything before this date is summarized as an opening balance.
Make an Inactive Bank Account Active AgainReactivate a previously inactive bank account in DoorLoop to restore it to your active banking list and resume recording transactions.
Edit the Name and Description of a Bank AccountRename or update the description of any bank account in DoorLoop, including the default Operating Account, from your banking settings.
Create a Journal EntryUsers with advanced accounting knowledge can create their own journal entries.
Add a Credit Card Account to DoorLoop to Track ExpensesIf you use a company credit card for business expenses, you can add them and let DoorLoop track those expenses.
Record That a Credit Card Has Been Paid Off Using a Bank Account TransferRecord paying off your credit card debt from your bank account in DoorLoop.
Record Payments That Are Received Directly by the OwnerIf your owner receives a portion of the rent income directly, here's how you would record that.
How To Write Off Unpaid Rent (Accrual-Based Accounting Only)What to do when a tenant moves out with outstanding charges not covered by their deposits.
How To Write Off Unpaid Rent (Cash-Based and Accrual-Based Accounting)(Simple Method) What to do when a tenant moves out with outstanding charges not covered by their deposits.
Record a Refund For an Application Fee to an ApplicantRefund a duplicate or overpaid rental application fee to a prospect in DoorLoop by creating an expense or voiding the application fee charge.
Refund an Application Fee to an Active TenantRefund a rental application fee to an active DoorLoop tenant by creating an expense transaction recorded against their lease.
Set Up a Revenue Contra AccountContra accounts are reported on the same financial statement as the associated account and used for discounts and allowances.
View the Account Register of a Bank AccountNeed to view the account register? Here's the simplest way to view it.
Transfer Security Deposits When You Are No Longer Managing a PropertyWhat do you do with a security deposit and other deposits when you no longer manage a property?
Enter Historical Transactions Using Journal EntriesWhile we normally don't recommend entering data from before your accounting start date, you can do so with Journal Entries.
Connect Your Bank Account to Plaid to Aid with Bank ReconciliationConnect your bank account transaction data to match transactions in DoorLoop, making bank reconciliation easier.
Opening Balance Wizard - How to Set Your Opening BalancesSet opening balances for your bank accounts in DoorLoop — configure your accounting start date and enter starting balances to get finances set up correctly.