Course Description

Prepare to pass exam: Oracle Account Reconciliation 2024 Implementation Professional

An Oracle Account Reconciliation 2024 Certified Implementation Professional has demonstrated knowledge and expertise in implementing account reconciliation solutions. Individuals with this certification can configure reconciliation compliance and transaction matching, manage reconciliations, load data, and configure reconciliation rules, as well as set up calendars and teams.

If you have a valid Oracle Account Reconciliation Implementation Professional Certification, and your credential has not expired, you can maintain your certification by taking the corresponding shorter Delta exam.

To prepare for the Oracle Account Reconciliation 2024 Implementation Professional exam, focus on mastering key reconciliation concepts, such as automating account reconciliations, managing transaction matching, and improving financial close processes within Oracle Cloud. Gain hands-on experience configuring reconciliation workflows, using reconciliation templates, and setting up rules and automation. Utilize official study guides, training resources, and practice exams to reinforce your knowledge. Familiarize yourself with real-world scenarios and best practices for optimizing account reconciliation to enhance your understanding and ensure success on the exam.

Exam topics covered

Solution Overview

• Describe Reconciliation Compliance and Transaction Matching
  
• Explain Processes for Reconciliation Compliance (5 step process)
• Describe Reconciliation Methods (Balance Comparison, Account Analysis, Variance Analysis, Balance Comparison with Transaction Matching, Account Analysis with Transaction Matching, and Transaction Matching Only)
• Describe user and application roles

Configuring Reconciliation Compliance

• Create and manage Formats
  
• Create and manage Profiles (Manual entry, copy & paste, delete, export and import; change threshold)
• Import and Export Teams

Managing Reconciliations

• Describe Individual, Group, and Summary Reconciliations
  
• Create and delete Reconciliations
• Manage Period Status
• Transfer reconciliations between users
• Review, Approve, Reject, and Reopen reconciliations

Loading Data

• Describe methods of loading data (including EPM Automate and REST APIs)
  
• Load manual Pre-mapped data
• Import Data Using Data Management
• Load Data Using Data Integration

Creating and Managing Rules

• Add calculated attributes and filters
  
• Describe the Types of Rules
• Add Rules to Formats and Profiles
• Publish Filters

Configuring Transaction Matching

• Create Match Types (Data Sources, Attributes, Transaction Types)
  
• Configure Match Processes (including matching rules)
• Create Formats and Profiles for Transaction Matching reconciliations
• Export and Import Match Types
• Import Transactions to Data Sources

Perform Transaction Matching

• Explain Transaction Matching Processes – Load data, run Auto Match, Confirm Suggested Matches, Create Manual Matches
  
• Identify Use Cases – Clearing or Accrual Reconciliations, Reconciling Debits and Credits
• Export adjustments or transactions as journal entries

Analyzing Transaction Matches

• Describe 5 balancing scenarios (Golden Rules)
  
• Review Transaction Matching Period-End Balancing

Setting Up the System

• Discuss Profile Segments
  
• Define Currency Rates and Currency Buckets
• Set Up Organization Units and Calendars
• Configure Periods
• Set Up Teams

Visualizing and Analyzing Data

• Working with Views
  
• Managing Custom Dashboards