Thank you for your reply but I actually new how to do that part. I am specifically asking to set the day of the month so whenever I go to reports I can select Last Fiscal Year and not have to customize the date (day) every time. Is there a way to customize the actual day of the month?
I'll share on how it works in QuickBooks Online, Sonja7.
You can only select the month when you set up the fiscal year. You're unable to select an actual date.
Concerning the reports, you can choose the last fiscal year as the report date. It will base on the month that was set up for the fiscal year. That being said, you'll want to change the dates manually so you can get the actual day of the month.