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Fiscal Year Configuration for Existing Entity TRCS

in Tax Reporting (Direct Tax)

Summary: We have a legal entity already live in Oracle FCCS/ TRCS currently set up with a fiscal year ending on December 31. The business now requires the fiscal year to end on March 31 instead. The transactions are posted

We need to understand:

  • What changes are needed in FCCS to support this new fiscal year?
  • How do we update the system without disrupting current data and reporting?
  • What impact will this have on consolidation, reporting periods, and retained earnings?
  • What is Oracle’s recommended approach for making this change smoothly?

Or is it required to create / reimplement a new ledger/calendar in GL with Mar fiscal year and realign FCCS accordingly?

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