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Reconcilation of Oracle ERP entries in Cash Management via Bank Statements

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Summary:

We are reconciling payables, receivables and cash management entries in the general ledger with bank and credit card statements in ARCS. Now we also have a requirement from the ERP side that these entries should aslo be reconciled in ERP as well for them to be marked as cleared and accounted. This leads to a duplciation of efforts as once transactions are reconciled in ARCS, we are exporting them as Bank Statements to be imported in Cash Management module of ERP for a second round of reconciliation.

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We would like to understand what are the Oracle Recommended best practices around this and how we should ideally handle this scenario where CM, Payables and Receivables entries also have a reconcilition requirement in ERP for the entries to be accounted in the ledger after they are reconciled in ARCS.

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