Periodically, you need to reconcile the transactions in your accounts receivable system, both before and after you post to the general ledger. Oracle Receivables reduces the amount of manual reconciling activity typically required and simplifies the overall reconciliation process by:
Providing a set of reports that let you quickly and easily view how transactional and accounting data tie together.
Highlighting potential reconciling items whose underlying causes can be corrected, to prevent future occurrences of similar errors.
This section describes the recommended Receivables reconciliation process, which consists of two main phases:
Internal reconciliation: Reconcile the period's operational activity with Receivables accounting data, before posting to the general ledger.
External reconciliation: After posting, reconcile subledger details with the general ledger.