Fiscal Year Variant V3 with positive calculation

[former_member650819]

Hi,

I came across one scenario where, the client is following Fiscal Year Variant V3. The period defined is as follows:

Month     Days       Period     Year Shift

1	31	10	0
2	29	11	0
3	31	12	0
4	30	1	+1
5	31	2	+1
6	30	3	+1
7	31	4	+1
8	31	5	+1
9	30	6	+1
10	31	7	+1
11	30	8	+1
12	31	9	+1

I am not understanding the reason for the company to follow +1 for April to Dec and 0 from Jan to March, since this leads to next fiscal year.

For example: if we are following 2014 as fiscal year, this setting will take by default 2015.

As per my understanding, in V3 we have the following settings:

Month      Days    Period    Year Shift

1	31	10	-1
2	29	11	-1
3	31	12	-1
4	30	1	0
5	31	2	0
6	30	3	0
7	31	4	0
8	31	5	0
9	30	6	0
10	31	7	0
11	30	8	0
12	31	9	0

Please advice.

[former_member650819 · Accepted solution]

They are following Fiscal Year 2015 as per current period.

And this they are following for past 12 years it seems. I am wondering, how they are able to manage with Audit?

Whether this is accepted as per Indian Accounting Standards and how this is managed in Income Tax Act and Company Act?

I checked with few other companies and they are following the same Fiscal Year with same V3 with +1 year shift from April to December and Jan to March as 0. If this is only Shortened Fiscal Year, this will be year specific, which has to be changed from the next fiscal year.

Can we change the Fiscal Year Variant now, if yes then what are the implications?

Kindly suggest.

[Former Member · Accepted solution]

Hi,

here nothing is wrong they have done short close.

Regards,

raman

[former_member650819 · Accepted solution]

I understand that Short Close will be done only for 1 year, but in the client system this is happening every year for past 12 years.

Please explain why this should happen and how this process is not impacting the day to day work. Since we are in 2014 Fiscal Year but system follows 2015 as Fiscal Year.

I am unable to understand this.

[Former Member · Accepted solution]

Hi,

there will not be any impact insap. I think initially they might have following the fiscal year some thing diff which not april to march after that business wants april to march because of that only we have option to short close it.

Regards,

Raman

[former_member650819 · Accepted solution]

How can we resolve this issue?

[Former Member · Accepted solution]

Hi,

What is issue if you have this??

we can't resolve it.

Regards,

Raman

[Former Member]

Hi,

Yes. The scenario which you mentioned with negative shift is correct.If it is Apr- March

You can cross check the Fiscal Year variant whcih maintained with +Shift with below Function Modules in SE37.

1.  FIRST_DAY_IN_PERIOD_GET  - Pass fiscal year , Fiscal year variant and period to get 1st date of period

2.  LAST_DAY_IN_PERIOD_GET   - Pass year , Fiscal Year variant and period to get last date of that period

3.  DATE_TO_PERIOD_CONVERT - Pass Date ,Fiscal Year Variant to get Period and year

Regards

Rakshith

[Former Member]

Hi,

as per my understanding Your client did short end fiscal year i.e now you are in year 2015.

to check the fiscal year post one document using fb01 and check the year.

Regards,

Raman