Your organization has decided to use the automatic reconciliation feature to reconcile bank statement lines with system transactions. Which three…

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