SAP AFC Innovations as on April 2022

SAP Advanced Financial close Version 2022 of the product has some much required and useful features. The full listing can be found in “What’s new” pdf from SAP Website https://help.sap.com/docs/AFC

  • SAP S/4HANA Cloud for advanced financial closing (AFC) first version was launched on December 16th, 2020
  • Features available as on 2021 –> Key / few features shared below
    • Critical Paths and Longest Paths : Critical paths and longest paths are now calculated when a task list is released. In the Dependencies view, we can see which of our tasks are part of a critical path or a longest path. [ (1) A critical path is a task or task sequence for which the planned end is close to the planned end time of the last task of a financial close. (2) A longest path is a task sequence with the longest planned duration or a duration that is no more than one hour shorter than the longest. ]
    • Adjustment for Reporting on Country/Region Assignment : Country/region assignments for reporting are now taken directly from the organizational units and no longer from the company code folder level. Accordingly, country/region assignments on folder level are now read-only in the Define Closing Tasks app. They’re still used for task list model assignment.
    • Batch Upload for User-to-Role Assignments : Template made available to upload User-to-Role assignment
    • A compatibility check is now available for checking the compatibility of templates with the new app planned to replace the Define Closing Tasks app. In preparation for the upcoming deprecation of the Define Closing Tasks app, recommendation from SAP is that you run a compatibility check on your task list templates well before the switch to the new app (planned for February 2022). This will ensure that your templates are compatible with the new app and that you’re prepared for the switch.
    • New Filters and Columns for Reporting :
    • Additional Features can be viewed at SAP
  • Features available as of 24th April 2022

For S/4HANA Cloud for Advanced Financial Close, SAP BTP version , new functionalities (2022)

  • Migration Apps : Two new FIORI apps are added to enable customers to migrate from SAP S/4HANA Cloud for Advanced financial Closing (part of SAP S/4HANA Cloud) —> to –> Advanced financial closing on SAP BTP
  • Specify Communication Systems : In this Application, we can now see the “time and status” of the latest synchronization run
  • SOX Compliance check : A SOX compliance check is now triggered automatically when one chooses Generate Task List. This automatic check is triggered only if (a) SOX compliance is required (b) The SOX compliance status of the affected template is Not OK.
  • Enhanced Dialog to Add Organizational Unit Assignments to Folders : An Enhanced dialog is made available to assign Organizational units to folders. Also we can now set filters for specific values or ranges
  • Translation of Task Default Description : In the Manage Closing Task Lists app, we can now provide a language-dependent task description. A translation of the task default description already available.
  • Creation of several user Groups in One Batch : Using the “Upload User Groups” option we can create several new user groups in one batch using the provided template.
  • Creation of several user-to-group assignment in One Batch: Using the “Upload Assignments” App we can now create several user-go-group assignments in one batch. This way we can assign several users to sever user-groups in single-go
  • Display Task Status changes in Ascending or Descending Order : We can now decide whether the oldest status change or the most recent status change of the task is shown first in the status change selection.

CHANGES

  • Mass Action Change Custom Fields : When performing a mass change of custom fields across several tasks, we can now do this in separate dialogs for each custom field instead of one combined dialog.
  • Terminology Adjustments :
Replaced by
abort (and other verb forms of it), abortion fail and failureUI elements affected: Task status Aborted was changed to Failed
disable (and other verb forms of it)deactivate and activate
execute (and other verb forms of it), executionDepending on the context:
startprocessprocessing,
or processing attempt
UI elements affected: The action Execute Test Run was renamed to Start Test Run

Removal of Option to Change Offset/Start Time : The option Change  Offset/Start Time in the Process Closing Tasks app will be removed with one of the upcoming releases. The start time of a task can still be adjusted using the option Change  Planned Start. This option is already available.



For more information about SAP S/4HANA Cloud for advanced financial closing, check out the following links:

  • SAP Community Page for Advanced Financial Closing: here
  • SAP Help Portal for AFC: here
  • AFC in the SAP Roadmap Explorer: here
  • SAP.com page about AFC: here

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