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najahlowe
Level 1

Set a fiscal year end date

Hello All:

 

I set my closing date, and (I thought) I set my fiscal year start date in the opening information, but somehow all of my reports are defaulting to the calendar year. My fiscal year is July 1- June 30, but I cannot seem to figure out how to change the default setting so that I don't have to revise my reports every single time.  Does anyone know how to do this?  I went under Company but don't see where to change it.  Thank you.

 

Najah

Solved
Best answer October 12, 2020

Best Answers
Rebecca R
QuickBooks Team

Set a fiscal year end date

Hi Najah,

 

Not only does selecting the correct month to start your fiscal year ensure that your reports will default to the correct dates, but it also lets QuickBooks clear accounting ledgers while you work on other things. You were on the right track when navigating to the Company menu, but there are just a few extra steps to take.

 

Here's how you can change the first month of your fiscal year:

 

  1. Under the Company menu, select My Company.
  2. Choose the Pencil icon to edit.
  3. Navigate to Report Information. Here you'll be able to check on and make changes to the first month of your fiscal year to make sure it's correct.

 

If there's anything else you need help with, I'll be on standby. Enjoy your day!

View solution in original post

7 Comments 7
Rebecca R
QuickBooks Team

Set a fiscal year end date

Hi Najah,

 

Not only does selecting the correct month to start your fiscal year ensure that your reports will default to the correct dates, but it also lets QuickBooks clear accounting ledgers while you work on other things. You were on the right track when navigating to the Company menu, but there are just a few extra steps to take.

 

Here's how you can change the first month of your fiscal year:

 

  1. Under the Company menu, select My Company.
  2. Choose the Pencil icon to edit.
  3. Navigate to Report Information. Here you'll be able to check on and make changes to the first month of your fiscal year to make sure it's correct.

 

If there's anything else you need help with, I'll be on standby. Enjoy your day!

View solution in original post

Bob W
Level 1

Set a fiscal year end date

There is no My Company under the Company

 

JamesM4
QuickBooks Team

Set a fiscal year end date

Hi BobW. Thanks for messaging on this thread. I'll be happy to help you going forward. To get started, are you using QuickBooks Online, Desktop, or Self-Employed? 

2021SA
Level 1

Set a fiscal year end date

I'm using desktop and don't have my company in drop down.

JamesM4
QuickBooks Team

Set a fiscal year end date

Hi 2021SA.  Glad to have you connect with us here. I'd like to make sure you get the support you need with navigating the program. I recommend contacting our specialists so they can assist you further with this. You can reach out to our support team by dialing 1-833-317-2226. One of our specialists will be happy to assist you by sharing your screen and help you navigate the program. To find out more about our hours and other contact methods, please follow this link here. Feel free to keep me posted on how you make out, I'll be on standby. 

djshibli
Level 1

Set a fiscal year end date

If I have multiple companies (QB Ent 2019), does this change all of my companies or just the one that is open?

Alex M
QuickBooks Team

Set a fiscal year end date

Hi there djshibli,

 

It's important that your fiscal settings be correct so that your yearly financial totals balance well. QuickBooks Enterprise is a great tool able to keep track of all the transactions of your business in order to be able to show you various reports about your business financials. I can provide some information about changing your fiscal year.

 

Changing the fiscal year should only affect the company file that is currently opened on your QuickBooks Enterprise program. 

 

If you have any other questions, feel free to reach out here.

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