How Does Outmin Process and Reconcile Bank Transactions?

Outmin’s daily bank processing is built to keep reconciliation accurate and low-effort for your firm. Once the client’s bank feeds are connected through Plaid, transaction data is pulled into the platform automatically each night. From there, our system starts matching transactions to documents and applying categorisation rules.

We aim to keep the bank ledger 90–95% reconciled by value throughout the period - as long as we have the right information. That means connected bank feeds, supplier invoice access, and clients uploading one-off documents via the app.

What Outmin does

• Process daily bank feed data via Plaid
• Match payments to invoices
• Auto-categorise recurring transactions using bank rules (e.g. rent, utilities, subscriptions)
• Flag exceptions where no clear match or supporting doc exists
• Run ongoing reconciliation reviews throughout the period
• Perform statement matching at year-end
• Escalate unresolved items to your firm only after two internal review rounds

What the firm sees

• Clean, reconciled bank data each month
• Unallocated transactions flagged clearly in the platform
• Allocation % by value and by transaction count
• Rex prompts when documents or clarification are needed from the client

What’s not included

• Journals like accruals, prepayments, depreciation (posted separately by the firm)
• Manual overrides by firm or client (Outmin owns reconciliation to ensure control)
• Manual bookkeeping for cash logs unless uploaded with supporting documents