Question: Can you please provide guidance as to the best way to handle entities with different calendar and fiscal years? Main company is Aug fiscal year close. A few legal entities are March close. One is December close.

[OSAdmin]

Answer

Answer: Configuration touchpoints:
Entity
Time Profiles
Scenarios
FX Rates
Cubes
Data Integration – moving data between cubes

Case Study A

• Two completely separate organizations:
• Retail/Commercial organization – “Business”
• FEBRUARY year-end
• Charitable Foundation – “Charity”
• DECEMBER year-end
• No crossing of entities – entities are one or the other only
• Entities GL systems set up based on their respective year-ends

Scenario Configuration

Due to FX Rate tables being stored by cube, you’ll need separate scenario dimensions for each respective entity dimension.

Time Profiles

Cubes

Case Study B

• Group SEC & Managerial reported based on Corporate October year-end
• Local/Legal Statutory & Tax reporting based on following requirements:
• March Year-End – required for India entities
• December Year-End – required for Mexico, Brazil, Israel, China, Romania
• Other countries use corporate fiscal year as local/legal calendar
• All entities data imported via connector to Corporate wide Oracle GL based on October calendar
• GL Data coded by “ledger codes” to indicate what is US GAAP, Local/Legal, or both (captured in UD1)
• Some countries need country specific COA hierarchies
• Local/Legal reporting only needs to be in local currency

Entity Configuration

Create separate entity dimensions for each local reporting year-end.  

Scenario Configuration

Duplicate scenarios to accommodate FX rates by currency and fiscal year.

Time Profiles

Accounts

Summary Accts – level used for planning

Detail Accounts – level used for group financial reporting

LL (Local/Legal) Accounts – additional detail and alternate hierarchies for country specific COA

UD1

Cubes

Sample app available as attachment

Source: Office Hours 2020-02-13 Partner Enablement