Oracle NetSuite has expanded its ERP offerings with the launch of NetSuite Account Reconciliation, a new module designed to automate and simplify business account reconciliation processes.
This innovation will help customers close their books quicker and with more precision, according to Paul Farrell, VP of Product Management at Oracle NetSuite. The new module, built on Oracle Fusion Cloud Enterprise Performance Management (EPM), can automate reconciliations for various processes, including accounts payable, accounts receivable, bank and credit card transactions, prepaid accounts, accruals, fixed assets accounts, and intercompany transactions. Farrell emphasizes the module’s capabilities for businesses with complex reconciliation needs, as it centralizes the process and integrates with other NetSuite modules. NetSuite Account Reconciliation is expected this month for all NetSuite ERP customers, with an undisclosed additional charge.