What is 'reference version' in SAP FIN-CS - S4HANA Financial Consolidation?

reference version - Overview

• Component: FIN-CS

• Component Name: S4HANA Financial Consolidation

• Description: An attribute of a consolidation version with the version types extension or group currency extension. It specifies the source version for the local currency, transaction currency, and quantities. It also specifies the version that initiates the task run. If you, for example, run the referenced version, all other versions that have this reference version assigned are run synchronously. This can be a standard, group currency extension, or extension version.

reference version - Details

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  Key Concepts: 
  Reference version is a feature in SAP S4HANA Financial Consolidation that allows users to compare different versions of the same financial data. This feature allows users to compare different versions of the same financial data, such as current and previous versions, or different versions of the same financial report. This helps users to identify any discrepancies between the versions and make necessary adjustments. 
  
  How to use it: 
  To use the reference version feature in SAP S4HANA Financial Consolidation, users must first create a reference version of the financial data they wish to compare. This can be done by selecting the “Create Reference Version” option from the menu. Once the reference version is created, users can then select the “Compare Versions” option from the menu to compare the two versions of the financial data. 
  
  Tips & Tricks: 
  When creating a reference version, it is important to ensure that all relevant data is included in both versions. This will ensure that any discrepancies between the two versions are accurately identified and addressed. Additionally, it is important to ensure that all changes made to one version are also made to the other version, as this will help ensure that both versions remain consistent. 
  
  Related Information: 
  For more information on using reference version in SAP S4HANA Financial Consolidation, please refer to SAP’s official documentation on the topic.