May I ask why September 30 was chosen as company fiscal year? Hope not to match Govt fiscal year.
There are very, very, very few worthwhile reasons to choose a fiscal year that differs from calendar year due to the extra work that will be required every year, usually not worth whatever reason was intended to benefit.
Yes, this will definitely make your clean-up harder too.
I worked for companies with fiscal years ending Jan 31, Mar 31, June 30, Sept 30. January was the worst.
Company named SAIC wanted to allow accounting to enjoy the holidays but made it much worse for us, since then we just had two year ends every year since Payroll year-end W-2's must still be done for 12/31.
So then a month later the rest of accounting would close for the year. Then for the next 11 months, we were a year ahead of the rest of the world. So everyone else was in 1985 and we we in FY86 by Feb '85 since our FYE was 01.31.86. Sucked big time for anything you had to do was off a month for 15 years! When they went public they finally switched to normal calendar year.
