Oracle Exam 1z0-1107-2 Topic 1 Question 17 Discussion

These are three components that will be useful for the automatic reconciliation of bank statements with system transactions. Automatic reconciliation is a feature that enables you to reconcile bank statement lines with system transactions without manual intervention.You can use various components to define the criteria and conditions for automatic reconciliation1. Some of these components are:

Transaction Grouping Rules: These are rules that determine how system transactions are grouped together for reconciliation purposes. You can group transactions by attributes, such as bank account, currency, transaction type, or payment method.

Tolerance Rules: These are rules that define the acceptable differences between bank statement lines and system transactions for reconciliation purposes. You can define tolerances by amount or percentage, and by bank account or currency.

Matching Rules: These are rules that specify how bank statement lines and system transactions are matched for reconciliation purposes. You can match transactions by attributes, such as transaction number, amount, date, or reference number.Reference:Oracle Financials Business Process Certified Foundations Associate Rel 1