on 09-16-2022 10:01 AM
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
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
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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
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