Who is this workflow for? Streamline the reconciliation of bank statements with tenant records using this n8n workflow. Designed for local networks, it leverages AI to identify discrepancies in rent payments, ensuring accurate and efficient financial management..

What does this workflow do?

  • Monitor Network Drive: The workflow continuously monitors a designated local network drive for the addition of new bank statement files.
  • Import Bank Statement: Once a new statement is detected, it is imported into the n8n workflow for processing.
  • Extract Contents: The workflow extracts relevant data from the bank statement, preparing it for analysis.
  • Analyze with AI Agent: The extracted data is sent to an OpenAI-powered AI Agent, which identifies payment dates and incoming tenant payments.
  • Access Tenant Records: The AI Agent accesses a locally-hosted Excel (XLSX) spreadsheet containing tenant and property records to determine due dates, payment amounts, and tenancy durations.
  • Compare Transactions: The AI Agent compares the bank statement data with the tenant records to identify missed, late, or incorrect payments.
  • Generate Report: A detailed report is created, logging all discrepancies back into the Excel spreadsheet for review.
  • Review and Action: The final report is available for human verification, enabling timely remedial actions to address any issues identified.

🤖 Why Use This Automation Workflow?

  • Automated Monitoring: Continuously watches for new bank statements, eliminating the need for manual checks.
  • AI-Powered Analysis: Utilizes OpenAI to accurately match payments with tenant records, reducing errors.
  • Comprehensive Reporting: Generates detailed reports highlighting missed, late, or incorrect payments for quick resolution.

👨‍💻 Who is This Workflow For?

This workflow is ideal for landlords, property managers, and financial administrators who manage rental properties and need an efficient way to reconcile rent payments with minimal manual intervention.

🎯 Use Cases

  1. Monthly Rent Reconciliation: Automatically matches monthly rent deposits with tenant agreements to identify any missing or late payments.
  2. Discrepancy Identification: Detects inconsistencies in payment amounts, ensuring tenants are paying the correct rent as per their agreements.
  3. Financial Reporting: Generates detailed reports for accounting purposes, simplifying the review and audit processes.

TL;DR

This n8n workflow automates the reconciliation of rent payments by integrating bank statements with tenant records using OpenAI. It enhances accuracy, saves time, and ensures that any payment issues are promptly identified and addressed, facilitating smooth and efficient property management.

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