Creating Reconciliations

You begin the reconciliation process for each period by creating reconciliations. You can create reconciliations for all account profiles, or for a filtered list of profiles. The profile frequency, such as monthly or quarterly, must match the period frequency.

When you create reconciliations, the status of all reconciliations is Pending until you change the Period status from Pending to Open.

If information is missing from a profile - for example, a preparer is not specified – a reconciliation is not created. If the period already contains reconciliations, reconciliations with Pending status are overwritten with the information in the profile. Reconciliations with Open or Closed status are not updated.

You can create reconciliations from either Profiles or Periods and also from the EPM Automate Utility:

Creating Reconciliations from Periods

To create reconciliations:

1. From Application, select Periods. and then select a period and click Actions, and then Create Reconciliations.
2. Select a period and then under Actions, click Create Reconciliations.

After the creation process is complete, a results summary is displayed. The summary displays the number of reconciliations created, the number of profiles for which reconciliation creation failed, and the reason for the failure.

Creating Reconciliations from Profiles

To create reconciliations:

1. From Application, select Profiles.
2. From the Profiles list, filter the list to include only profiles for which you want to create reconciliations. You can choose All Profiles or Filtered Profles and select a saved filter.
3. After filters are set, from Actions , select Create Reconciliations.

After the creation process is complete, a results summary is displayed. The summary displays the number of reconciliations created, the number of profiles for which reconciliation creation failed, and the reason for the failure.

Creating Reconciliations Using EPM Automate Utility

A Service Administrator or Power User can use the EPM Automate Utility to create reconciliations.

For example: createreconciliations copies the profiles to a specified period.

Usage: epmautomate createreconciliations PERIOD SAVED_FILTER, where

• PERIOD is the name of a period
• SAVED_FILTER is the name of a saved public filter. If you do not specify a saved filter, the utility copies all applicable profiles

Examples:

epmautomate createreconciliations "January 2015"

epmautomate createreconciliations "January 2015" "Corporate Recs"

For more information, see Working with EPM Automate for Oracle Enterprise Performance Management Cloud

After the creation process is complete, a results summary is displayed. The summary displays the number of reconciliations created, the number of profiles for which reconciliation creation failed, and the reason for the failure.

Next Tasks

• Copy transactions from a prior reconciliation

• Add transactions and adjustments. You prepare reconciliations by entering transactions to explain differences between source system and subsystem balances, or to provide explanations for an account balance.

• Add Attachments and Add Comments to reconciliations.

Watch Creating Reconciliations Video

Click this link to watch the video:

How Transaction Matching Differs from Reconciliation Compliance

Transaction Matching differs from Reconciliation Compliance in that users ofTransaction Matching can access the Matching part of Transaction Matching immediately upon linking the Profile to one of the three Transaction Matching Formats since it shows up under the Matching card.

If you are a Transaction Matching only environment, you can work on the Matching side from the matching card, with no RC integration.

If you are a Transaction Matching user that's linked to the Transaction Matching Account Analysis or Balance Comparison formats, then there is an integration to Reconciliation Compliance and you need to perform the step to Create Reconciliations as outlined in this topic.