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Fiscal Year Configuration for Existing Entity TRCS

edited Sep 9, 2025 5:23PM in Tax Reporting (Direct Tax) 1 comment

Summary:

We have a legal entity already live in Oracle 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. Transactions have already been posted, so we need to understand the implications and best practices for making this change.  Looking for a best guidance, documentation and best practice and minimal work or should we reimplement to set up the entity?

 

2. Current Setup
- The Primary Ledger is configured with a fiscal year ending on December 31 (Total Multi GAAP) That is correct 
- XYZ, as a standalone entity, uses a fiscal year ending on March 31 for the Secondary Ledger (IFRS).

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