About Transaction Matching

Transaction Matching enables organizations to automate the preparation of high volume, labor-intensive, and complex reconciliations. These reconciliations can then be seamlessly integrated with the tracking features within Reconciliation Compliance.

As part of the Reconciliation Compliance process, in addition to comparing balances, organizations would like to match the transactions that form the balance. Transaction Matching is a perfect complement to the Reconciliation Compliance feature set. It provides the functionality required to simplify the preparation of complex reconciliations and then integrates the period-end results into the Reconciliation Compliance period-end process.

The goal of Transaction Matching is to load transactions from one or more data sources, match the transactions using predefined rules, identify exceptions, and explain the exceptions. Typically, the frequency of preparing reconciliations in Reconciliation Compliance is lesser than or equal to the frequency at which transactions are loaded. For example, if balances are compared and reconciliations prepared every month, then transactions can be loaded daily, weekly, or monthly.

You can also use Transaction Matching for non-balance sheet reconciliations across disparate sources, also referred to as operational reconciliations. Examples include system to system reconciliations, stock or share settlements, expense reimbursements, and so on.

Note:

Transaction Matching functionality is provided with Oracle Enterprise Performance Management Enterprise Cloud Service (EPM Enterprise Cloud Service) only.

Tour of Account Reconciliation Video

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