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md@sovereigngrac
Level 1

Is there a way to customize the statement of financial comparison to make the comparison period the previous fiscal year. I want to compare 10/31/20 to 8/31/20.

 
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Best answer November 18, 2020

Best Answers
DivinaMercy_N
QuickBooks Team

Is there a way to customize the statement of financial comparison to make the comparison period the previous fiscal year. I want to compare 10/31/20 to 8/31/20.

I've got your back, md@sovereigngrac.

 

Currently, the option to change the Compare another period box to the last day of the previous fiscal year is unavailable. You can only change it by choosing either Previous Period or Previous Year. As a workaround, you can customize the dates of your Balance Sheet report so you can compare the data from 10/31/20 to 8/31/20.

 

Here's how:

 

  1. Go to the Reports menu.
  2. Scroll down to the Business Overview section and click Balance Sheet to open the report. balancesheet1.JPG
  3. Under Report period, choose Custom to enter the dates in the box. Example: 8/31/2020 to 10/31/2020.
  4. In the Compare another period field, select Previous period.
  5. Tick the Custom period box and input 08/31/2020 in the boxes. 
  6. Once done, hit Run reportbalancesheet2.JPG

 

For more info about the compare time periods box, you may visit this article: Compare time periods in reports.

 

Also, to learn more about the latest product updates , see our QuickBooks Blog page. Today QBO has a newly added menu called Insurance. This offers the following: 

 

  • Customized coverage, which is designed for a specific industry.
  • Quick setup, it only takes a few minutes and you also have the option to talk to an insurance expert.
  • Conserve your cash, with policies designed specifically for small businesses, including some with a monthly payment option. 

 

Should you need anything else, don't hesitate to comment below. I'm always around to help if you have concerns about customizing your reports to show your desired data. Stay safe and take care always.

View solution in original post

4 Comments 4
ChristieAnn
QuickBooks Team

Is there a way to customize the statement of financial comparison to make the comparison period the previous fiscal year. I want to compare 10/31/20 to 8/31/20.

Hi there, md@sovereigngrac.

 

Yes, you can customize the statement of financial to make the comparison period from the previous fiscal year. I'd suggest running the Profit and Loss report then customize the date range and the Compare another period options. This will include the first day of the year through the day you are running the report.

 

Here's how:

 

  1. Click the Reports menu at the left menu.
  2. Choose Profit and Loss on the search icon.
  3. From the Report period, choose either Year-to-Date or Custom. Then, enter the specific date.
  4. Go to the Compare another period drop-down list.
  5. Choose Previous year-to-Date.
  6. Hit the Run Report button.

 

 

 

 

For additional information on how you can customize a report to focus on the details you want to see and how to view date ranges side-by-side in reports, you can refer to the articles below.

 

 

Please check this article to see steps on how you can memorize a report to allow you to save with its current customization settings: Memorize reports in QuickBooks Online.

 

Please get back to us here if you have other questions about generating reports in QuickBooks. I'm just a post away. Take care!

md@sovereigngrac
Level 1

Is there a way to customize the statement of financial comparison to make the comparison period the previous fiscal year. I want to compare 10/31/20 to 8/31/20.

Hi Christie Ann,

Thanks for the response but I'm afraid it does not answer the question. First, I was asking about the Statement of Financial Position, also known as the Balance Sheet. I was not asking about the Statement of Activity/Profit and Loss. Second, for my balance sheet I want to fix the date in the "Compare another period" box to be the last day of the previous fiscal year, not just 12 months earlier. In our case that date is 08/31/2020. I can produce this type of report in Fathom (see attachment) but I'd like to find a way to do it in QBO if possible. Thanks. 

 

DivinaMercy_N
QuickBooks Team

Is there a way to customize the statement of financial comparison to make the comparison period the previous fiscal year. I want to compare 10/31/20 to 8/31/20.

I've got your back, md@sovereigngrac.

 

Currently, the option to change the Compare another period box to the last day of the previous fiscal year is unavailable. You can only change it by choosing either Previous Period or Previous Year. As a workaround, you can customize the dates of your Balance Sheet report so you can compare the data from 10/31/20 to 8/31/20.

 

Here's how:

 

  1. Go to the Reports menu.
  2. Scroll down to the Business Overview section and click Balance Sheet to open the report. balancesheet1.JPG
  3. Under Report period, choose Custom to enter the dates in the box. Example: 8/31/2020 to 10/31/2020.
  4. In the Compare another period field, select Previous period.
  5. Tick the Custom period box and input 08/31/2020 in the boxes. 
  6. Once done, hit Run reportbalancesheet2.JPG

 

For more info about the compare time periods box, you may visit this article: Compare time periods in reports.

 

Also, to learn more about the latest product updates , see our QuickBooks Blog page. Today QBO has a newly added menu called Insurance. This offers the following: 

 

  • Customized coverage, which is designed for a specific industry.
  • Quick setup, it only takes a few minutes and you also have the option to talk to an insurance expert.
  • Conserve your cash, with policies designed specifically for small businesses, including some with a monthly payment option. 

 

Should you need anything else, don't hesitate to comment below. I'm always around to help if you have concerns about customizing your reports to show your desired data. Stay safe and take care always.

View solution in original post

kanejoyce885
Level 1

Is there a way to customize the statement of financial comparison to make the comparison period the previous fiscal year. I want to compare 10/31/20 to 8/31/20.

hi, if you have a free time, you can access brutal.io and play with me, thanks a lot

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