Bank Transaction Feature
Optional Modern Add-on> Requisition |Purchase order Module
Recorded demo: Microix -Bank Feed
Quick Feature Summary
Microix’s Bank Transaction feature automates and simplifies credit card management by connecting directly to your financial institution through Plaid. Daily credit card activity flows into Microix automatically, allowing each cardholder to review charges, upload receipts from desktop or mobile, and submit everything through workflow with ease.
The system intelligently matches charges to approved purchase orders, supports quick drag‑and‑drop matching, and learns your coding patterns over time—reducing manual entry and speeding up reconciliation. Once charges are ready, users submit them in a single, clean request that routes through approvals and into accounting.
Connecting your credit card accounts to Microix through Plaid is quick and flexible, and the experience depends on how your bank manages card access:
Two Ways Banks Handle Credit Card Access
1. Primary Account Holder Access
Some banks allow the master account holder to log in once and see all associated card accounts. Benefit: Link every card in a single registration session — fast, efficient, and easy to maintain.
2. Individual Cardholder Access
Other banks require each cardholder to log in with their own online banking credentials. Benefit: Ensures each user authorizes only their own card, supporting strong security practices.
Not Sure Which Method Your Bank Uses?
Start the Plaid registration and look at the accounts displayed:
If all cards appear: They can be linked at once.
If only one card appears: Each cardholder will need to complete their own registration.
This quick check tells you immediately how your bank handles credit card access.
The result: faster reconciliation, fewer errors, stronger controls, and a dramatically smoother credit card management process.
Trial Period Details (Limitations)
(If you do not decide to purchase in advance)
Duration: 90 days (Upon request, the trial can be
extended for a minimum of 30 days.)
Start: The trial automatically begins once the client has access to the
Modern software.
Assistance During the Trial:
· No test data is provided
· Preview‑only access
· Clients may purchase 1 hour of support for connectivity testing
PLAID Integration Notice
· Compatibility is determined via API (12,000+ institutions supported) Plaid do not have a list.
· Clients may confirm compatibility directly with their bank or purchase 1 hour of support for connectivity testing
· If the institution is incompatible, no purchase is required; CSV import remains available
Deactivation
If the feature is not purchased, trial access will automatically be disabled after 60 days. All documents created during the trial will remain intact and accessible.
*Pricing information (subject to change) -Contact your MIP|Microix Reseller for a quote)
Cost: $1,500/year -Based on single bank account.
Estimated setup and training: 4 hours|Each
*Single Bank Account: This means the cost covers one bank account connection (for example, your organization’s operating/checking account or a corporate credit card account). Even though only one bank account is connected, the feature allows you to manage unlimited credit cards issued to staff under that same account.
In other words:
- You pay for one Bank Feed connection with related setup services
- That connection can include many individual staff credit cards tied to that same bank or credit card provider
- All transactions from those cards flow into Microix for review, receipt attachment, and invoice creation
Scope of Services – Bank Transaction Setup & Use (Plaid) 4 Hours|Each)
Overview
This session provides a guided walkthrough of the Microix Bank Transaction module, including how Plaid connections support daily visibility, transaction processing, and reconciliation workflows.
Topics Covered
· Purpose
of Bank Transaction
How Bank Transaction improve visibility into daily activity and support
reconciliation.
· Plaid
Connection Overview
Requirements for establishing the connection and clarification of credential
ownership.
· How
Transactions Appear
Understanding how imported bank and credit card transactions populate in
Microix.
· Categorization
& Coding Workflow (High-Level)
Overview of how transactions are categorized, coded, matched, and prepared for
approval.
· Controls
& Best Practices
What to approve, what to flag, and recommended internal controls for accuracy
and audit readiness.
Outcome
The team will understand the full operational flow of Bank Transaction, including how transactions are imported, reviewed, coded, and approved, as well as the key control points required for effective reconciliation.
Support Knowledge-Based Article (s) subject to change:
Bank Transaction – Plaid Compatibility
Attn: Partners
Plaid does not provide a published list of supported banks. The only way to verify compatibility is by using the search function during account registration.
A valid account is not required for testing. If you have a dummy account in your demo environment, simply follow the four steps below to search for the bank.
During the Bank Transaction 60‑day trial period, the client may purchase 1 hour of connectivity testing if they would like Microix to verify compatibility on their behalf.