Accurate Period-End Closing with SAP S/4HANA Advanced Financial Closing (AFC)
Chaotic period-end closings caused by poor organization and failures in communication are a sore point in many companies. SAP's AFC module in the SAP Cloud can help to achieve orderly and fast period-end closing.
Preparing month-end, quarter-end and year-end closings presents accounting and financial departments with a major challenge. Coordination, preparation and verification take up a lot of employees' valuable and productive time.
A series of steps has to be performed in a specific sequence when preparing period-end closings. These processes have to be executed with a high degree of accuracy and responsibility to ensure that the resulting closings are correct and complete.
SAP AFC provides top-class functions to tackle such challenges.
AFC gives you preconfigured standard templates for closing operations, e.g. in AR, AP and AA. You can modify or delete individual steps and add your own steps in-between. You also have the option of defining a critical path. This can be done manually or automatically by the system.