Process Overview

Administrators use Account Reconciliation Manager to manage account reconciliations according to policy. Reconciliations require these steps:

1. The administrator sets up users.

2. The administrator completes the required setup procedures:

   • Define profile segments

   • Set up frequencies

   • For multiple currencies, the administrator defines currency.

3. The administrator completes the optional setup procedures:

   • Set up system attributes

   • Set up Power User security

   • Set up aging profiles

4. The administrator determines how reconciliations are performed for each account type, creating formats that control the method of reconciliation and ensuring the capture of the information.

5. The administrator creates a profile for each account to be reconciled, assigning a format, currency settings, workflow, and other attributes.

6. Mapping rules are configured in Oracle Hyperion Financial Data Quality Management, Enterprise Edition (ERPI) to ensure that source and subsystem account balances are properly reflected in reconciliations.

7. To initiate reconciliations for a period, the administrator copies the profiles into the period, which creates the reconciliations with the start dates and due dates.

8. The administrator imports balances and changes the period status from Pending to Open. At this time, reconciliations that meet the criteria for auto reconciliation are completed automatically.

   During the reconciliation cycle, users receive email notifications of assigned reconciliations and delinquencies, and can click links in the email for direct access to the reconciliations.

   Alternatively, users can log on to Account Reconciliation Manager to review and access assigned reconciliations in Dashboards and List Views.

Preparation of reconciliations follows a structured workflow:

1. The preparer performs the reconciliation, including validating the account balance and providing all required documentation.

2. After preparation is complete, the reconciliation cycles through assigned levels of review until all reviews are completed.

3. Reviewers are responsible for verifying the preparer’s work. If the work is sufficient, the reconciliation is approved. If revision is required, the reconciliation is rejected, causing it to revert to the preparer. Users with viewer or commentator privileges can access the reconciliation throughout its lifecycle.

4. Account Reconciliation Manager users can define and generate a Report Binder for selected reconciliations across one or more periods. Report Binders enable administrators and others to view reconciliations offline and are also useful for audit purposes.