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What are the Impact of Fiscal Year Change

lakshminaraya95
Participant
0 Kudos

Hi Guru

What are the Impact of changing fiscal Year

My client's organization currently using K4 fiscal (Jan to Dec) Accounting year.

But now they want to change V3(April to March)

anyone tell me

pros and cons

thanks in advance

Accepted Solutions (0)

Answers (2)

Answers (2)

Neeraj_Jain
Active Contributor

Hello Lakshmi,

Please refer below SAP blog link for your query. Its a detailed blog how to change fiscal year and what are the impacts.

https://blogs.sap.com/2021/11/23/changing-to-a-new-fiscal-year/

Regards,

Neeraj Jain

sanilbhandari
Product and Topic Expert
Product and Topic Expert
0 Kudos

Hi lakshminarayanan1503

I do not know which system you are on currently since the same is not specified in the question. If you are on S/4HANA, please make sure you specifically read the below OSS note

https://launchpad.support.sap.com/#/notes/3224074

You should also consider the below aspects:

1) Do you use parallel ledgers with different fiscal years.? If yes, which ledger do you want to change

2) Do you have applications like asset accounting, Material ledger etc active in your system

3) If you are on ECC, do you intend to convert your system to S/4HANA in a close future. It is recommended to do the fiscal year change first before starting the system conversion using the shortened fiscal year process.

4) Do you have external interfaces, which could be impacted by the changes (Vertex for tax, Interfaces posting or sending accounting information to other system to name a few)

Thanks & Regards

Sanil Bhandari