Reconcile Rent Payments: Bank Statements vs Excel with OpenAI

This n8n workflow streamlines rent payment reconciliation for property managers by monitoring a local network drive for new bank statements. Upon detection, it extracts transaction data and leverages an OpenAI agent to parse incoming tenant payments, identifying dates and amounts accurately.

The AI then cross-references this data with tenant and property records stored in a local Excel spreadsheet, checking payment due dates, expected amounts, and tenancy durations. It flags discrepancies such as missed payments, late submissions, or incorrect amounts, providing a clear audit trail.

Benefits include significant time savings on manual reconciliation, reduced errors, and quick identification of issues for remedial action. Ideal for property management firms handling multiple tenants, it enhances cash flow visibility and tenant accountability.

The workflow generates a comprehensive report directly in the Excel file for easy human review. Customizable for Slack, Teams, or email notifications, and a fully local Ollama version is available for privacy-focused setups. Requires self-hosted n8n and OpenAI access.