Financial Reporting Year Change

Client Requirement: Financial Reporting Year Change from Jan-Dec to Apr-March

The last financial year is January2021 to December2022. Client has the requirement to change the year to April to March. The transition year needs to be from January 2023 to March 2024. In Microsoft D365 F&O, fiscal calendar can be of 15months, however, ledger calendar cannot be more than 12 months.

Solution:

1.  Ledger calendar can be shorter than 12 months.

2. We need to do two-year end close process:

a. For January 2023 to December2023 – 12 months

b. For January 2024 to March 2024 – 3 months

3. Client can have regular financial year from April 2024 to March 2025 onwards.

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