Transaction matching

Automate high volume transactional reconciliations High-transaction volume, labor intensive reconciliations require sophisticated transaction matching features. The auto-match engine can match millions of transactions in minutes. It is tightly integrated into period-end reconciliation to provide evidence of reconciliation at a point in time and meet compliance requirements. Confirm or decline auto-suggested matches Our intelligent automated match feature will suggest matches for you, which you can choose to accept or discard, speeding up the transaction matching process. Apply matching rules for faster performance Speed up performance by creating flexible matching rules for individual transactions or groups of transactions (one-to-one, many-to-one, and many-to-many matches). Support complex reconciliations Unlimited data sources and unlimited attributes per data source can be defined to support the most complex reconciliations in your organization. Automate journal entries Journal entries can be automatically created to resolve variances found in the matching process, again saving you time.

Reconciliation compliance

Leverage flexible formats Every organization has a different strategy for how many and how detailed their reconciliation formats need to be, based on their goals. Use our pre-built formats, created from best practices, or create your own custom formats, and gain the flexibility to meet your needs. Manage the process efficiently Built-in workflow captures when a reconciliation has been signed off, by whom, and notifications help keep your entire team on track. View the status of all reconciliations, and stay in control of the entire process, from financial close to disclosure. Define your own rules and account profiles For each of your accounts, create a profile containing the risk rating, workflow assignments, currency to be used, and rules to use for auto-reconciliation and for dealing with variances. No custom VB scripts or custom code needed—just point and click. Automate certifications Save time without compromising accuracy or increasing risk by automating time-consuming, repetitive reconciliations, such as ledger to sub-ledger, zero-balance, or accounts with low or no activity. Automate intercompany reconciliations Don’t waste time manually reconciling intercompany reconciliations; automate them to increase accuracy and save time. Evaluate and improve close cycle effectiveness Improve close cycle effectiveness with operational and compliance dashboards. See which reconciliations are open, late, due today or due shortly, as well as variance details and comments about them. Understand how the organization is doing versus policies and procedures. Easily identify outliers Automated variance reports help you focus energy on reconciliations that are outliers, requiring explanations and potentially slowing down the financial close. Provide audit support The secure, document repository ensures reconciliations do not go missing or lost and provides global auditability. Evidence for reconciliations is audited and logged in the application to meet your compliance needs.

Connected financial close process

Modernize your entire close with Cloud EPM Not a standalone solution, Account Reconciliation is fully integrated with Oracle Cloud EPM, including financial consolidation and close and narrative reporting, for a complete, end-to-end financial close process. Connect automatically to data from many sources Readily connect to other Oracle Cloud EPM business processes and ERP applications such as Oracle Cloud ERP, E-Business Suite, or SAP ERP. Leverage your existing IT investments in Oracle and non-Oracle applications by connecting to data and metadata from many sources, including data from spreadsheets. Streamline your journals process Oracle Cloud EPM’s enterprise journals capability streamlines the creation, management, and posting of journal entries from your account reconciliation adjustments to any cloud or on-premises ERP system. Know precisely where your journals process stands—track, manage, and post journals from a central location.