Fiscal year for India

[Former Member]

Hi,

I have one requirement

We have one group company and multiple company codes across countries and they all have the fiscal year as Jan to Dec .

But in India case we have April to march fiscal year

Now I canu2019t maintain 2 fiscal years ( we donu2019t have new GL activation)

I understand I have the option either to maintain group fiscal year or country fiscal year and derive financial statements for the other through adjustments.

What are the pros & cons if we maintain April to mach fiscal year Group point of view?

What are the Pros & cons if we maintain Jan to Dec fiscal year in India co-code point of view?

If anyone has met with similar scenarios, I request your inputs on this asap. Your few minutes on this will help me to put a step ahead.

Kindly guide me on this

Thanks in advance

Regards

Kumar

[Former Member]

We are going with K4 which is Jan to December and for taxes they will do it manually by taking out of SAP by running P&L and Balance Sheet for 2 years.

[Former Member]

Hi,

As Per my Understanding you can maintain Fiscal Year April to March for your Indian Companycode, There will not any impact on Books of Accounts. when Group company Need Books of Accounts for Period Jan to Dec. with Special Ledger Purpose you can extract the details and Provide.

Thanks

Goutam

[Former Member]

I think Fiscal year for India is K3..January 1st to December 31st