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August 4, 2021
Question

Changing Fiscal Year

  • August 4, 2021
  • 7 replies
  • 133 views

We changed our fiscal year from a 9/30 year end to 12/31. To do that we also had a shortened fiscal year to bridge the gap from 10/1 to 12/31. Is there a way to designate the different fiscal years in QB online?

7 replies

BettyJaneB
Level 9
August 4, 2021

Hello there, @jkitners.

 

Let me shed some light about adding fiscal year in QuickBooks Online.

 

At this time, you can only select one fiscal year in QuickBooks. This will be based on the start date of your fiscal year. In your case, you'll need to choose one the business period to be tracked in QBO.

 

Know that, changing your fiscal year or the start of your financial year will also change the dates in your report. However, your data will not change, so you can simply enter the dates, when you need to see the data in your previous financial year.

 

To change the start of your fiscal year in the settings:

  1. Click on the Gear icon and choose Accounts and Settings.
  2. Select the Advanced tab and click on the Accounting section.
  3. Choose September for the first month of fiscal year option. 
  4. Click Save, and then Done.

Once done, you can now start pulling up reports that contains your transactions for the previous and current FY. Feel free to check out these links to guide you how: 

I'm always around if you have other questions or concerns with QuickBooks. Have a good one, @jkitners.

February 20, 2024

Hi,

I am unable to complete the change. I am able to manually adjust the date and save it, but it reverts back to the original fiscal year when I leave. How do I permanently change this, I am unable to see a "Done" button.

Level 8
February 20, 2024

Hey, @Alex0221

 

Thanks for joining in on this thread. 

 

If none of the steps worked above from my colleagues, then I recommend contacting our Customer Support Team for further assistance. Here's how: 

 

  1. Go to the Help icon in the top right-hand corner. 
  2. Press the Contact Us button. 
  3. Enter your question and hit Let's talk
  4. Scroll down and choose to Get a callback

 

Keep us updated on how the call goes. We're always here to have your back. Have a great day!