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Oracle Cloud EPM Account Reconciliation

Close faster by automating account reconciliations and transaction matching. Improve the efficiency and accuracy of your financial statements while addressing security and risk typically associated with the process.

Discover Account Reconciliation in this product tour.

Oracle Cloud EPM Account Reconciliation

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 zero-balance reconciliations

Save time without compromising accuracy or increasing risk by automating time-consuming, repetitive reconciliations, such as zero-balance, low value, or low risk reconciliations. Define your own rules for auto-reconciling.

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

Streamline your entire close with Oracle 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.


View all customer successes

Oracle Cloud EPM customer successes

Customers across a wide range of industries use Oracle Cloud EPM to drive financial excellence.

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Learn how Oracle Cloud EPM helps Montefiore save lives

Account Reconciliation benefits

  • Close faster by automating reconciliations

    There are often many accounts that are zero-balance, low activity, and therefore low risk. Automatically detect and reconcile those low risk accounts for a faster close process.

    Video: Take a Tour of Account Reconciliation in Oracle Cloud EPM (6:15)

  • Save time and increase accuracy by automating complex reconciliations

    A small percentage of reconciliations can cause the majority of time spent on the overall reconciliation process. Use transaction matching to automate them. Intelligent automated matching can suggest even more matches beyond the basics.

    Video: Manage the Reconciliation Process in EPM Cloud (4:50)

  • Automate journal entries to resolve variances and meet compliance needs

    Variances happen, and for those you deem appropriate you can automatically generate journal entries to resolve them, still meet compliance needs, speed up the process and maintain accuracy.

  • Make reconciliations part of your close system to speed up your close

    Account Reconciliation is part of the overall Oracle Cloud EPM system, not a stand-alone application, so it is already integrated with Financial Consolidation and Close and Narrative reporting. There is no need to waste time moving data or building interfaces.

    Video: Best Practices in the Account Reconciliation Business Process (3:15)

  • Use a solution, not a toolkit, so finance does not have to rely on IT

    Account Reconciliation is a solution that is part of the Oracle Cloud EPM suite which can be configured by the business; there are no custom VB scripts or custom code needed from IT.

    Video: Getting Started with Account Reconciliation (3:44)

Resources

Readiness

Learn what's new in the latest EPM release

Review readiness material to learn what's new in your EPM cloud service and plan for quarterly updates.

Documentation

Access a library of documentation

Oracle Help Center provides detailed information about our products and services with targeted solutions, getting started guides, and content for advanced use cases.

Customer community

Join a community of your peers

Cloud Customer Connect is Oracle's premier online cloud community. With more than 200,000 members, it's designed to promote peer-to-peer collaboration and sharing of best practices, product updates, and feedback.

Cloud learning

Develop your Oracle Cloud EPM skills

Oracle University provides you with free training and certification you can rely on to ensure your organization’s success, all delivered in your choice of formats.

Related content

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Datasheet

Account Reconciliation

Connected Financial Close

Close with flexibility, speed, and accuracy

Tax Reporting

Align tax and finance

Narrative Reporting

Analytics and reporting, reinvented

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