Start Fiscal Year On Specific Date

You can only select the first month of the fiscal year, Mike. You're unable to select a specific date.

Let me guide you with the steps:

1. Click Company.
2. Select My Company.
3. Click the Pencil icon in the COMPANY INFORMATION section.
4. Go to the Report Information tab, then select the first month of your Fiscal Year.

QuickBooks registers the first month that your fiscal year starts and it automatically understands when it ends. If you wish to change the financial year, the data will remain intact. 

If you have more questions, you can always leave a comment below. We're just around to answer you. 

Thanks Kristine - to be clear, you're saying that it is also not possible to have a fiscal year start on a specific day of the month in Quickbooks Desktop, as well as in QB Online?

Thanks for getting back to us, @nycte!

Yes, the Fiscal Year is a one-year period that starts on the first day of any month. This applies to QuickBooks Desktop, as well as in QuickBooks Online. 

Here's how to set your Fiscal Year in QuickBooks Online:

1. Go to the Gear icon.
2. Select Account and Settings.
3. Select Advanced.
4. In the Accounting section, verify that the setting in the First month of fiscal year field is correct, or select Edit ✎ to change the setting.
5. Select Save.
6. Click Done.

The screenshot below shows you the last four steps.

I'm also adding these articles for reference in case you need tips and related articles in the future:

• Self Help
• Confirm the first month of your fiscal year
  
  

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

I've given this feedback before, but again, I'm reaching out because it's causing constant conflicts when working with my CPA.
My clients Specific year-end falls inside the month, not the beginning or end. Being unable to specify the exact date of YE within Quickbooks Online always gives errors on reporting.
The sooner this can be fixed in QBO the better. Thank you, Bonnie

I have the same question. QBO should have the capability to set fiscal periods. 

Thank you for taking the time to inquire about fiscal year settings in QuickBooks Online, vhumpalhhh. Allow me to join and provide you with some information on this topic.

However, there's no option to set the fiscal year start date to a specific day at the moment. It can only be set to the first day of a month. 

I understand it's important to manage the correct fiscal year for accurate financial reporting. I'd recommend adding a feature request about adding an option to set a specific date when selecting the start of a fiscal year.

Here's how you can send a request or feedback in QBO:

1. Go to the Gear icon and select Feedback.
2. Type in your feedback.
3. Click Next to submit it.

This sends your request straight to our engineers for review and consideration. Feel free to include details on why this feature would be valuable for your business.

For additional reference, here are a couple of articles on changing company settings in QBO just in case you might need them:

• Edit Company Settings In QuickBooks Online
• Set Up Advanced Account Settings In QuickBooks Online

Please let me know if you have any other questions when working and changing company details in QBO, vhumpalhhh. I'd be happy to jump back in and provide additional tips or troubleshooting to make sure you get the assistance you need.