Can we use different Fiscal Year for CORP Book and TAX Book
My query is regarding the Oracle Assets and please find the below details on the Overview of the project and the Requirement and I have mentioned my questions in the last section .
Overview: We are implementing Oracle E-Business suite for Brazil Country and customer had already been implemented the Oracle suite for the United States (Head Quarters).
Ledger design for Brail:
- Primary Ledger is maintained for the Corporate Purpose with the Calendar APR-MAR and Currency is BRL
- Secondary Ledger is maintained for the Brazil Statutory purpose with Calendar JAN-DEC and Currency is BRL
Requirement in Assets:
1. We have a requirement in Oracle for Fixed Assets where Corporate Book requires to maintain the Assets in APR-MAR Fiscal Year as per the Corporate Reporting purpose (United States). But where is in Tax Book, it requires to maintain the Assets in JAN-DEC Fiscal Year as per the Brazil Statutory Purposes.