Advanced Financial Closing Integration (4HG)

Advanced Financial Closing (AFC) is a standalone public cloud solution delivered on SAP BTP to orchestrate the financial close process. The solution supports the planning, execution, monitoring, and analysis of recurring financial tasks for all entities of a corporation. You can define closing task lists, assign responsibilities, parameters and dependencies. Besides embedded workflows and approval functionality, the cockpit also contains detailed analytical apps and KPIs to monitor the closing process in real-time.

This scope item provides connection setup between SAP S/4HANA Cloud and AFC, and the steps on AFC to orchestrate the financial closing activities.

Key Process Steps Covered

Set up connection between SAP S/4HANA Cloud and Advanced Financial Closing
Define task list template and task List
Process closing task list
Approve closing task completion
Monitor closing tasks status

Benefits

Streamlines closing cycles and earlier insights into the financial figures with full process modeling and analytics functions
Provides transparency, compliance and governance enhanced within the closing process, including a full audit trail
Increases level of automation and efficiency to achieve an accelerated closing process

Additional Information

This scope item is excluded from the default activation

This scope item is a container for the Financial Tasklist Integration communication scenario (SAP_COM_0566). The communication scenario is managed by the customer. If your business needs require it, you can activate it and set up the integration.

Besides, this scope needs additional products license.

Where is Advanced Financial Closing Integration(4HG) being used?

This Scope item is used in the following way:

As a support function of Advanced Accounting and Financial Close within Finance Scope Item Group

No Process Flow details available for scope item Advanced Financial Closing Integration(4HG)-s4hc-2111

Ref: Finance of SAP S4HC-2111

Best Practices related to S/4HANA

Best Practices of SAP S/4HANA On Premise *1
Best Practices of SAP S/4HANA Cloud *2
Best Practices of SAP Analytics Cloud *2
Best Practices of Robotics Process Automation(RPA) with SAP Leonardo *2

*1) Yearly Updates are released per September of each year
*2) The Quarterly updates are released per Februari, May, August and November
Details of future releases can be found in the SAP Roadmap section of each product. Go to SAP Roadmap Product Finder.

Knowledge Center Scheer Nederland | The Process Experts Visit also the SAP Cloud ERP knowledge center of Scheer Netherlands. The following topics are covered:

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