Question

Fiscal Year

Forum|Forum|2 years ago
June 17, 2024
1 reply
2 views

I am using QB Desktop and I dowloaded the sample file so I can train a new employee. It seems as if the sample file thinks the fiscal year is 2027. All the reports come up with as December 2027. How can I change it so the report

QuickBooks Desktop

K

KimberlyS

Moderator

We can set a closing date to change the fiscal year for your sample file, TMo4. I'll discuss this further so we can address your concern.

QuickBooks Desktop will utilize future dates when you create a sample company file. Setting up a closing date will help you start a new fiscal year, starting from your preferred month. Although this will not affect related information from your existing transactions, you can generate reports with the appropriate fiscal year.

Here's how:

Sign in to QuickBooks Desktop as an admin.
Click Company from the top menu and choose Set Closing Date.
Pick a Closing Date, then enter a Closing Date Password.
Select OK.

On the other hand, if you want to change the first month of your accounting year, choose My Company from the Company menu. From there, click the Pencil icon and select your beginning month from the Reporting Information section.

Moreover, you might want to personalize your report to display specific information that you need or save its current settings with the guide of these resources:

We're here to back you up if you have other queries when navigating your company settings to change your fiscal year in QuickBooks Desktop. We'll be pleased to assist you.

T

TMo4Author

Thank for the reply but is this does not fix the issue. Within the "Sample Manufacturing Sample File" that was downloaded, If I run the Profit and Loss Standard report, the the date Dec 1-15, 2027 (today's date is June 18, 2024). I know I can change the from/to dates for the period I want to see. However, if I change the Dates field to "This Fiscal Year" (see attached image) it shows the fiscal year of 2027. How do I change this so the fiscal year is 2024?

I

IrizA

Level 2

I appreciate the screenshot you've provided, TMo4. I have some information to share about why you have future dates in your report instead of the current one.

In the QuickBooks Desktop (QBDT) company file, the dates in your reports will indeed show the future dates so you can differentiate the data between the sample file and your company information. Doing this will prevent accidental use of sample transactions in your actual accounting.

Since you want to use the current year, you can consider creating a new company file, allowing you to have the original file and a restored backup. Afterward, remove the transactions you have in your copied company file so you can start fresh.

Here's how:

Step 1: Create a copy from your company file

In your QBDT, open the company file you want to copy.
Click F2 to see where you saved your file.
Go to the File menu, then click the Back up company.
Choose Create Local Backup, then follow the onscreen process.
Restore your company file, and then rename the backup file.

For steps 2 and 3, you can view this article to see the detailed steps about the steps indicated above: Create new company files from existing ones in QuickBooks Desktop.

Additionally, you can use this material to change your fiscal year in QBDT: Year-end guide for QuickBooks Desktop.

Furthermore, you can run and customize reports in QuickBooks Desktop to see and manage your business.

I'm here whenever you have more questions about the fiscal year. Just leave your inquiries in the comment section, and we will ensure to help you in any way we can.

Sign up

Login with SSO

Let's get you signed in

Login with SSO

Scanning file for viruses.

This file cannot be downloaded