My current fiscal year is set to month starting January. I am looking to change fiscal year to mth starting July. Does the roll forward of equity in QB only default 12mth

Thank you!

I have a slightly different problem.  July 1,2023 was the first month that we used QB.  Our Fiscal Year is July 1 to June 30.  We had several transactions in the system before I noticed that the first month of the Fiscal Year was set up incorrectly as January.  I have followed the instructions to change to July as the first month and when I save, the screen shows July.  However, when I leave that settings screen and come back to it later, it ALWAYS says first month of the Fiscal Year is January, not July as I had changed it to show.

Yes I have the same problems too.

Hello there, Lawan.

I recognize the importance of setting your fiscal year to a specific starting month. Rest assured, I'm here to help you resolve this problem.

We'll need to change the First month of the fiscal year again to the specific month you prefer. Click Save, sign out of QuickBooks Online, and sign in again. You may now be able to see the final changes of your First month of fiscal year.

If the problem persists, we need to optimize your browser for QuickBooks Online. A huge amount of browser cache can significantly slow down any website, including QuickBooks, which causes certain problems.

Let's start by opening QuickBooks Online using a private window. Here are the keyboard shortcuts to go to Incognito or InPrivate Mode in your browser:

For Google Chrome / Microsoft Edge / Opera:

• Mac: Command ⌘ + Shift + N

For Firefox:

• Mac: Command ⌘ + Shift + P

For Safari:

• Shift + Command ⌘ + N

If this works, you can clear your browser's cache. After that, go back to Accounts and Settings and change your First month of fiscal year again.

Additionally, you can customize your financial reports and choose a custom reporting period to display various periods of your report other than the fiscal year.

Let me know if you have other concerns besides setting up the fiscal year's first month. I'd be happy to help you anytime.

I am looking to change my fiscal calendar from starting on Jan 1 to starting on October 1.  I have several years of records in my account, I would like those to remain on the Jan 1 fiscal calendar start, and only future transactions move to the new October 1 fiscal calendar.  If I change the fiscal calendar in setup for my account from Jan 1 to Oct 1, will QBs back annotate all the history to the new fiscal year, or will it preserve the historic data on the old fiscal year and start the new fiscal calendar for all future transactions?  If QBs back annotates all the history, how can I overcome this and only have it apply the Oct 1 calendar for future transactions (2024 and on).  Thanks!

Hello there, @SpringHaven.

I'm here to provide you with information about the changing fiscal year and how it affects your historical and future data.

Changing your Fiscal Year End Date doesn't alter any data in your account. Moreover, the effect isn't retroactive, meaning that viewing any reports from previous years will still show the date parameters you used before. However, it will affect report dates when generating new sets of reports or budgets. 

For example, if you've modified the Fiscal Year End date from January to October, then any reports requiring a Fiscal Year End Date will now show transactions between October 1, 2024, and September 30, 2025. If you want to view reports based on the previous Fiscal Year End Date, you'll need to enter the date parameters manually rather than using the Fiscal Year End option.

You can read through these articles to help you manage your reports in QuickBooks Online to learn how to change the date period, either fiscal year or custom date:

• Customize reports in QuickBooks Online 
• Memorize reports in QuickBooks Online 

Let me know if you have further questions about the fiscal year in QuickBooks Online. I'm always here to assist you.