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Differing Fiscal year for Accounting & Tax purposes

What procedure needs to be followed in ECC 6.0 when the fiscal year for accounting purposes and the fiscal year for taxation purposes are different.

For Accounting - Jan to Dec: For taxn - April to March.

How to accomplish the same?

One should not extract two different financials and merge it manually. Is there any other way out?

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  • Posted on Jul 04, 2008 at 12:23 PM

    hi,

    to the best of my understanding,you cannot have more than one

    fiscal year variant for a caompany code.

    you can use the same fiscal year for taxtation purpose also..

    SAP is flexible enough to accomodate this.

    Raghav

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  • author's profile photo Former Member
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    Posted on Jul 05, 2008 at 07:22 AM

    Hi Smurthi

    If my understanding is right - Your company books fiscal year is Jan to Dec and for country like India the tax book is to be maintained from April to March

    If this is what you are in need off - its very well possible using Special Purpose Ledger.

    Once this is configured - you will have two books as the period stated above.

    Any transaction posted in SAP will go to your regular book and special purpose ledger.

    At this point if you open any posted document using FB03 etc - go to the Environment -> Document Environment -> Accounting Document - you can see the Special purpose ledger document also

    Warm Regards

    Bala

    Edited by: Balasubramanian Nagarajan on Jul 5, 2008 9:30 AM

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