Financial Reporting Year Change

Dynamics 365 Finance

The client's current financial year is January 2021 to December 2022.
The client wants to change the financial year to April to March.
The transition year will be from January 2023 to March 2024.
In Microsoft D365 F&O, the fiscal calendar can be 15 months, but the ledger calendar cannot exceed 12 months.
The ledger calendar can be shorter than 12 months.
Two-year end close processes are required: one for January 2023 to December 2023 (12 months) and one for January 2024 to March 2024 (3 months).
After the transition, the client can have a regular financial year from April 2024 to March 2025 onwards.

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