Switching Bank Accounts in Loft

Switching Bank Accounts in Loft

When switching brokerage bank accounts (for example, moving from one bank to another), follow these steps to ensure Loft and Payload are updated correctly.

1. Add the New Bank Accounts in Xero or QBO

First, create the new bank accounts in your accounting system:

  • Add the new bank accounts in Xero or QuickBooks Online (QBO).
  • Confirm the accounts are active and available for use.

Loft does not automatically know when new accounts are created in Xero/QBO, so the accounts must be synced before they become available in Loft.

Details on setting up Xero, please review: https://support.loft47.com/portal/en/kb/articles/howtosetupnewxeroaccount#Sign_up_for_Xero
Details on setting up Xero, please review: https://support.loft47.com/portal/en/kb/articles/setup-a-new-quickbooks-account-to-integrate-with-loft

2. Sync the New Accounts to Loft

After adding the accounts:

  1. Go to your accounting integration settings.
  2. Run a sync to pull the new accounts into Loft.
  3. Wait for the sync to complete successfully.

Once synced, Loft will recognize the new accounts and make them available for mapping.

3. Update Account Mapping in Loft Integration Settings

After the new accounts appear in Loft:

  1. Go to your accounting integration settings:
    • Xero: Integrations → Xero Settings
    • QBO: Integrations → QuickBooks Online Settings
  2. Update the account mappings to point to the new bank accounts.
  3. Save your changes.

For Xero mapping details, see:
https://support.loft47.com/portal/en/kb/articles/new-xero-api-settings#Front_End_Mapping

4. Update Payload Account Mapping

After completing the accounting integration updates:

  1. Go to Integrations → Payload Settings.
  2. The new bank accounts should now appear in the account mapping dropdown.
  3. Select the appropriate new bank accounts for your payout accounts.

Troubleshooting

If the new bank accounts do not appear in Payload:

  • Confirm the accounts were added successfully in Xero/QBO.
  • Confirm the accounts were synced to Loft.
  • Confirm the accounts are mapped correctly in the accounting integration settings.
  • Refresh the Payload settings page and check the dropdown again.

Note:

  • GL Account Number Requirement: Loft47 can only sync and display GL accounts that have a GL account number assigned in Xero/QBO. When adding a new bank account or GL account in your accounting system, make sure a GL number is assigned before syncing with Loft47.
  • Account Sync Requirement: Loft47 can only display bank accounts that have been added to your accounting system and synced successfully. If a new account is not available for selection, it usually means Loft47 has not received the updated account information yet.

    • Related Articles

    • Creating a New deal as an Agent

      To create a new deal in Loft click New Deal in the menu on the left. Make sure to fill in all of the required fields and complete all of the steps below! Create a new Deal Select side (list, sell or double end). If no select made, system will default ...

    • Creating a New Deal as an Admin

      Navigate the Deal Menu To create a new deal in Loft click New Deal in the menu on the left. Make sure to fill in all of the required fields and complete all of the steps below! Create a new Deal Select side (list, sell or double end). If no select ...

    • What's New in Loft47 (2026): New Features & Enhancements

      ? We're excited to introduce our 2026 feature updates! This release includes enhancements inspired by customer feedback, along with new capabilities we've developed to help your brokerage work more efficiently and stay ahead of industry changes. ...

    • Getting Started with PAYLOAD

      In Article Navigation can be found to the right of this article or via the buttons below Fees Set Permissions Setup Account Map Account Loft47 has embedded the payload.co payment gateway to offer direct payouts to agents for their commission on ...

    • Is Loft47 right for you? Learn More...

      Should you sign up for Loft47? Check out these resources, which will help you decide. Picking technology is tricky, and we love working with Brokerages that we are a great fit for. This is not a one size fits all business & we’re happy to recommend ...