Choose your...

Country Language
70% off
for 3 months
Buy now
FINAL DAYS!
SALE
70% off
for 3 months
Buy now
Get your
business
organised
Buy now
70% off
for 3 months
Buy now
SALE Save 70% for 3 months Buy now
Get your
business
organised
Buy now
DON'T MISS OUT
Buy now and get 70% off for 3 months Claim offer
DON'T MISS OUT
Claim offer
SALE
Buy now and
save 50% off today
See plans + pricing
50 %off for 3 months
50 %off for 12 months
  • Invoices
  • Expenses
  • Reports

What is a Financial year?

Financial year (Definition)

Financial year refers to a 12-month period over which a business operates. It is used by a business to calculate a budget along with profits and losses for the year, as well as for tax purposes. The governments require all businesses to finalise their books then complete and lodge their tax returns once the financial year is complete. The government will then determine how much tax your business owes for that financial year. The end of financial year is also an excellent time to check on the financial health of your business and take note of any areas for improvement.

The financial year ends on different dates around the world. In Australia it is June 30, much of Europe is December 31, while the UK’s financial year ends on April 5.

Ready to run your business better with QuickBooks Online?