During the financial close process,accountants need to validate data quality to ensure the accuracy, completenessand compliance of financial results. As part of this process, theyneed to validate account balances on various financial positions and otherdimensions such as cost object, profit center or segment. They need torun preventive validations prior to closing tasks (for example, validityof assets balances to prevent incorrect depreciation runs), validations afterclosing tasks (for example, validate zero-balance accounts after settlementruns), milestone validations (for example, balance sheet account variancesbetween current and previous periods are within a predefined threshold),and more.
SAP S/4HANA Cloud provides the newFiori apps Manage Balance Validation Rules andGroups (F6386) and ViewBalance Validation Results (F6387) to enable maintenance and execution of validation rules. In addition,these are seamlessly integrated with SAP S/4HANA Cloud for Advanced FinancialClosing to further increase automation and accelerate entity close by executingvalidations when the preceding steps are completed, initiating follow-up stepsif no errors are found and triggering notifications for prompt actions in caseof errors or threshold violations.