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impact on closing activities and payroll when FYV as K4(Jan-Dec) for indain companies in sap s4 hana

Dear Experts,

If FYV K4 - Calander year (Jan-Dec) is adopted in leading ledger for indian company codes then what is the impact on year end reporting and closing activities and payroll process as we have to submit the financials and do the closing as per the fiscal year Apr-mar.

Thanks & Regards

Shailesh

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