What is validation check in SAP FI-LC - Consolidation?

SAP Term: validation check

• Component: FI-LC

• Component Name: Consolidation

• Description: The stored values of a company are checked against the predefined validation rules, when a validation is run. These validation rules are user defined. The validation check changes the status of a company within Status Management. Consequently, the next step in Status Management can be performed only after the validation check has been run without errors.

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• Key Concepts: 
  Validation checks are a type of control used in SAP FI-LC Consolidation to ensure that data is accurate and complete. They are used to verify the accuracy of data entered into the system and to ensure that all required fields are filled in correctly. Validation checks can be set up to run automatically or manually, depending on the user's preference.
  
  How to use it: 
  Validation checks can be set up in SAP FI-LC Consolidation by going to the “Validation Checks” tab in the system. From there, users can select which validation checks they want to enable and configure them according to their needs. Once configured, validation checks will run automatically or manually depending on the user's preference.
  
  Tips & Tricks: 
  It is important to remember that validation checks should be configured according to the specific needs of each user. For example, if a user only needs to check for certain types of errors, they should only enable those validation checks and not all of them. This will help ensure that the system is running efficiently and accurately.
  
  Related Information: 
  For more information on setting up validation checks in SAP FI-LC Consolidation, please refer to the official SAP documentation. Additionally, there are many online resources available that provide step-by-step instructions on how to configure validation checks in SAP FI-LC Consolidation.