Oracle Account Reconciliation (ARCS) Overview
Reconciliations ensure that a company’s financial accounts are validated by checking to see if the balance in the account is correct. ARCS makes this process simpler and faster for companies by automating the process and helping users involved in the process collaborate effectively.
Because account balances are valid at a point in time, and business conditions change, it is critical that reconciliations occur. In addition, companies face stiff penalties for failing to reconcile.
Account Reconciliation consists of two modules: Reconciliation Compliance and Transaction Matching