Multiple Reporting Periods for local legal reporting

Dear HFM Gurus,
How to satisfy Period dimension for Group reporting as well as local legal reporting with different period Example: Holding parent's period - Jan to Dec and Child entity's period Jul to Jun.
We all know Group's period is supposed to be the local entity's period by default application creation, but we have a special consideration to satisfy the local reporting needs as well.
Thanks in advance.

Hi Thanos,
Group is not managing the data of the local entity, but they would receive them in order to use them correct? Agreed, we also expect and work towards the same.
Yes, you are right in understanding that Group P01 = Mexico P06 = Jan. Other way to state it is "Lets assume we are maintaining a standard Hierarchy labels (Jan to Dec) instead of P01 to P12". Now the requirement is how best we can satisfy the local reporting (Means do we need to plan for using a Custom dimension or having a separate entity Hierarchy or any other ways to achieve it to satisfy group as well as Mexico?
Thanks for your help.
Cheers,
KS

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