ORACLE Account

Reconciliation And Cloud

Service

Version History

Version Date(dd/mm/yyyy) Modification Author

Version 1.0 02/05/2020 Initial document CA Sanjana Mishra
Version 1.1 02/05/2020 Review Amit Sharma

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Prologue
The Progressive ORACLE ARCS Software allows you to perform the complex
reconciliation compliances with ease. Oracle arcs is an customized software for the
businesses that have a global reach and convoluted transactions.

1. Bank Reconciliation.
2. Credit Card Reconciliation.
3. Customer Account Reconciliation.
4. Vendor Account Reconciliation.
5. Tax Reconciliation.
6. Inter-Company Reconciliation.

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Prologue
It’s ability to smooth your accounting reconciliations by
streamlining the whole process through automation
techniques and visible real time performance of the
qualified reconciliation is commendable. Furthermore, the
software integrates facilely with your existing
accounting/financial software. And all this is available
without much burden on your expenditures.

Once you have licensed the software, the First steps of implementation
include the creation of your business application on the environment. Especially
customized with your organization’s working structure.
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More About ARCS..
The ORACLE ARCS cloud software functions help you to manage the whole
reconciliation process, be it the balance check at the end of the operating period or
the transactions matching between the business books or any else accounting
reconciliation required by the Business.

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More About ARCS..
The implementation of the software depends on the scale of your business and
the average number of transactions in an organization. Standard implementation
takes 8-10 weeks, however it may vary depends on the number of reconciliations
to be performed, number of source and sub systems to be uploaded, profiles that
needs to be created, periods to be created, currencies to used in
reporting/functional/entered, etcetera.

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ARCS Modules
ORACLE ARCS comes with two module basis
➢ Reconciliation Compliance.
➢ Transaction Matching.

Reconciliation compliance is designed for the reconciliation process of validating

the period end internal records(balances) of the books of accounts. The accounting
records alter on daily basis and hence reconciliation is a recurring process
➢ Cash – Bank reconciliation : internal financial records are reconciled with the bank’s statements.
➢ AP/AR Books : The accounts payable and receivables sub systems are reconciled with the source
systems(General ledger).
➢ Accruals/prepaid expenses : Accuracy check of the balances entered and also the variances period over
period.
➢ Fixed Assets : Comparing the sub system(fixed asset register) and source system(GL).

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ARCS Modules

The Transaction matching module is an perfect add on to the reconciliation compliance. It

helps the organization to automate the transactions matching process that usually is a labor
intensive task and if done by other means can also include human errors.
So transaction matching module saves you by mitigating the risks and increasing the quality and
decreasing the quantity of time to perform such tasks.

The whole ARCS software comes with an inbuilt data management so that the data of the sub
system and the source systems can be uploaded and validated.
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ARCS Profiles

The administrator sets up the dual modules with the help of the system attributes
provided in the cloud, by creating the profiles (combination of the entity and the account
codes), providing the account descriptions, creating the processes/methods for performing
the reconciliation, defining the currencies calendars based on the working pattern or place
of your organization, choosing the Formats of reconciliation that are provided out of the box
and also creating any if required.

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Login to the Application
Sign in to the cloud
➢The first step towards
application creation involves
signing into your licensed
aloud.
➢User id & password will be
provided by the oracle team
at the time of Licensing.

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Steps to Create ARCS Application
Create New Application Tab
➢ Now once you have signed into the Cloud, the beside screen shall appear to you.
➢ Select the ‘Create new Application’ option from the same.

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Steps to Create ARCS Application
Application Created

Now the application is ready to be customized and configured based on the

organization working structures and pattern.
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Account Reconciliation Home Tab
Home Tab (Cards)
➢When you first enter the application
then, it opens to account
reconciliation home tab.
➢These are the cards(icons) that will be
visible to you.
➢These help in easy navigation and
access to the features of the
application.
➢The cards shall change depending on
the role of the users. The
administrator will have the visibility
of all the cards as seen in the picture
beside.

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Account Reconciliation Home Tab

Home Tab (links)

➢These are the other links that appear on
the home tab. They appear on the left of
your application.
➢They display any
announcements(important)that are
provided by the administrator almost like
a notice board.
➢Also it provides you as a tracker of your
recent activities, open/late/closed
reconciliations. the forms visited, the
task performed etc. for your easy access.
➢The integration tab helps you to access
the data management module.

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Account Reconciliation Home Card

Application (Card)
➢Application card is the one which the
administrator should start working for
application creation.
➢Application card provides you with all
the basics and the main details that
will be required to configured or that
will be used for the purpose of
reconciliation.
➢It contains the configuration for both
the modules.
➢Under this card you can create profiles
to run the reconciliation, create the
match types for transaction matching,
work with different periods to
open/close/lock the period of
reconciliation so on so forth.

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ARCS Configuration
Configuration

Home > Application > configuration.

The very first steps include the configuration setting to be executed by the administrator of the
application so that it is customized as per the business structure and operations.

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ARCS Configuration Options

It provides access to various features :

▪ Attributes :these are the user defined attributes that are used to create profiles & formats for
reconciliations.
▪ System attributes : Specifically designed for the purpose of profile creations. eg : profile
segments, process. Etc.
▪ Currency : helps to define the reporting/functional/entered currencies prevalent in the business.
▪ Data load : Used for the defining of the data load to be used in data management
▪ Filters : This help you to get a focused listed view of the reconciliations or the reports.
▪ Formats : these are one of the most important parts that gives a design to your reconciliation and
the data that can be entered while performing the reconciliation.
▪ Lists
▪ Organizations : This provides you to define the structure of your organization geographically as
well as operationally.
▪ Periods : Periods define the frequencies of your reconciliations as in the start date/close date/end
dates etc.
▪ System settings : This is the usual system settings that are in an application.

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Any Question?

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