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southbridgechamb
Level 1
posted
‎October 08, 2021 12:33 AM
last updated ‎October 08, 2021 12:33 AM

Can we extend fiscal year by two months?

My company current fiscal year Nov 2020 - Oct 2021 and starting next year we would like to change the fiscal year to Jan 2022 - Dec 2022. So for this year we would like to extend our fiscal year to Nov 2020 - Dec 2021. Is this possible in Quickbooks, please advise.
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1 Comment 1
LeizylM
QuickBooks Team
QuickBooks Team
‎October 08, 2021 02:46 AM

Can we extend fiscal year by two months?

Thank you for posting here on the Community page, southbridgechamb. 

 

I can share some information regarding extending the accounting period in QuickBooks Online.

 

Extending the accounting period in Quickbooks isn't possible. QuickBooks follows the 12 months accounting period for the fiscal year.

 

You can follow the steps below in case you'll want to change next year to your fiscal year: 

 

  1. Click on the Gear icon and choose Accounts and Settings.
  2. Select the Advanced tab and click on the Accounting section.
  3. Choose January for the first month of the fiscal year option.
  4. Click Save, and then Done.

 

You can read through these articles to help you manage your reports in QuickBooks:

 

 

Stay in touch if you have other concerns by leaving a comment below if you need help with reports. I'm always glad to help in any way I can.​ Have a great day. 

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