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FeaturesBlockManOSUpdated March 15, 2026

Platform Gap: OMC Bank Account Reconciliation

Platform Gap: OMC Bank Account Reconciliation

Status: Not yet implemented — tracked as a high-priority core functionality gap (v1.0.30).

Overview

Reconciling the OMC current account and sinking fund against actual bank transactions is a core daily-use task for Irish managing agents. As of v1.0.30, this workflow is not supported within the platform.

This page documents what is missing, why it matters in the Irish property management context, and what the intended feature set looks like.

What Is Currently Missing

1. Bank Statement Import (CSV / OFX)

Managing agents cannot upload or import bank statements from their clients' OMC accounts. There is no file parser for CSV or OFX formats, and no integration with Irish banking providers.

Impact: All bank transaction data must be entered or compared manually.

2. Transaction-to-Payment Matching Engine

There is no engine — automated or manual — to match imported bank transactions against:

  • Recorded service charge payments from unit owners
  • Expenditure entries (contractor invoices, insurance premiums, utility payments, etc.)
  • Sinking fund contributions and drawdowns

Impact: Agents cannot identify which payments have cleared, which are outstanding, or which bank credits are unaccounted for.

3. Reconciliation Ledger View

There is no dedicated reconciliation screen or report showing:

  • Matched transactions (bank debit/credit paired with a platform record)
  • Unmatched bank transactions (credits or debits with no corresponding record)
  • Unmatched platform records (payments or expenditures not yet seen in the bank feed)
  • Opening and closing balances per reconciliation period

Impact: Agents have no auditable reconciliation trail within the platform.

Why This Matters for Irish OMC Management

Under Irish property management practice and the Multi-Unit Developments Act 2011:

  • OMCs are required to maintain transparent financial records.
  • Annual service charge accounts must reconcile income collected against expenditure incurred.
  • Sinking fund balances must be accurately reported to owners.
  • Managing agents acting on behalf of OMCs carry a fiduciary responsibility for client funds.

Without bank reconciliation tooling, all of the above must be performed outside the platform, introducing risk of error, audit failure, and compliance exposure.

What the Completed Feature Will Include

Once implemented, the bank reconciliation module is planned to provide:

CapabilityDescription
Statement importUpload CSV or OFX files from any Irish business bank account
Auto-matchingMatch credits to service charge payments by amount, date, and reference
Manual matchingAllow agents to manually pair unmatched transactions
Sinking fund reconciliationSeparate reconciliation view for sinking fund account
Reconciliation ledgerFull ledger with matched/unmatched status per line
Period lockingLock reconciled periods to prevent retrospective changes
Audit trailRecord who matched or adjusted each transaction and when

Workaround (Current State)

Until this feature is available, managing agents should:

  1. Export the Payment Register from the service charge billing module as a reference for expected receipts.
  2. Export the Expenditure Report as a reference for expected outgoings.
  3. Reconcile both against bank statements manually in a spreadsheet.
  4. Retain reconciliation workbooks for audit purposes.

This workaround is not a long-term solution and does not provide an auditable trail within the platform.

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