Fast and Efficient Period-End Closing in 2 Days

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.


Standardization:

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.

Automation:

In the old logic, some closing steps, such as depreciation runs for example, were performed manually. When using AFC, you can plan such closing steps completely automatically, subject to the previous step having been performed successfully. Manual intervention is therefore unnecessary.


Workflow:

Workflow and calendar reminders ensure communication with all employees involved in the process. For accountants that means no manual task is neglected.


Monitoring:

The closing status can be monitored in real-time. You can recognize at a glance which steps have been completed, are still pending, or are in progress. You can also see the number of errors in the closing steps. The real-time analysis allows you to intervene immediately.

If you too would like to make your period-end closings more efficient and more accurate, we will be happy to help you!

Share Article


Back to overview