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taxsave
Level 1

Year end date quickbooks. My client corporation year end date is Mar 21 not end of the month, quickbooks gives an option of month and not date. How to do it?

 
8 Comments 8
LauraAB
QuickBooks Team

Year end date quickbooks. My client corporation year end date is Mar 21 not end of the month, quickbooks gives an option of month and not date. How to do it?

Hi taxsave,

 

Thanks for joining us here in the QuickBooks community. It's great to see that your client corporation is a part of the QuickBooks Desktop family and I hope the program is helping ease some of the work of managing business finances.

 

QuickBooks records fiscal and tax years based on beginning month for that period. I hear what you're saying about the client corporation's year end being a more precise date, but that's not something that can currently be entered in the program. As a workaround, you can customize reports for the date range you want and memorize (save) them for easy access later. That way, you can see the data for the period you need even though you can't put the specific date in the settings.

 

Feel free to leave feedback about this for our product development team. To do so, click Help in the top menu bar > Send Feedback Online. The Product Suggestion option should do the trick.

 

Let me know if you have more questions. Enjoy the rest of your day!

impossible
Level 6

Year end date quickbooks. My client corporation year end date is Mar 21 not end of the month, quickbooks gives an option of month and not date. How to do it?

QB does not accomodate a mid-month Year End date, making it awkward to create YE Reports. Unless it is crucial to have a FYE of March 21, I suggest applying to change the YE date to the end of a month.

VanKel
Level 1

Year end date quickbooks. My client corporation year end date is Mar 21 not end of the month, quickbooks gives an option of month and not date. How to do it?

I've recently switched to QB from Sage AccPac. Our company has a floating year-end(it changes every year) and this was no issue with AccPac. If I had known this before, I would not make the switch. Now I have to combine two TBs before the year-end otherwise it screws up the retained earnings. I hope QB will make this available in the near future.  

Rebecca R
QuickBooks Team

Year end date quickbooks. My client corporation year end date is Mar 21 not end of the month, quickbooks gives an option of month and not date. How to do it?

Hello VanKel,

Welcome to the QuickBooks Community! We strive to provide the best product for our customers, and want to ensure you have all the tools and features needed to manage your business. I want to ensure that your voice is heard.

I can see how having the ability to set a floating year end in QuickBooks Desktop would be useful to you. You mentioned having to combine two trial balances in order to get the correct year end figures. A possible work around for you is to Customize reports in QuickBooks Desktop. You can customize your trial balance and then save it for future use.

I also recommend submitting Feedback to our software engineers regarding this functionality. They take the feedback received into consideration when preparing new updates and features. To submit your feedback, click Help in the top menu bar then select Send Feedback Online. Select the Product Suggestion option and then write a message detailing what you'd like to have as an option for year ends within the program.

Please let me know if there's anything else I can assist with! 

Reetz
Level 1

Year end date quickbooks. My client corporation year end date is Mar 21 not end of the month, quickbooks gives an option of month and not date. How to do it?

Rebecca, I read your reply with interest. My client has a mid-August year end.  New client and picked up last years TB from the accountant.  I figured i could customize the reports easily enough.  But did you know that the Balance Sheet and the Trial Balance are incorrect when customized to fit the time frame involved.  I don't know what/why the error is except that if you look at your P&L net income and compare it to the Balance Sheet, it is incorrect.  something in the Balance Sheet/Trial Balance that brings in data that doesn't respect the dates chosen.  My work around will be to change the date of all the transactions from Aug 1 to 17 and re-date them July 31 and use that as the fiscal year end.  Would love to hear if there is a way to make the balance sheet/trial balance more accurate simply by customizing the report dates.  Fortunately I only have about 115 transactions to change so it's no biggie and of course I've saved a back-up prior to making those changes just in case. Thanks!

PatriciaT
QuickBooks Team

Year end date quickbooks. My client corporation year end date is Mar 21 not end of the month, quickbooks gives an option of month and not date. How to do it?

Hi Reetz, I'm glad to hear you're taking advantage of the customize feature for your reports, and I want to make sure each of them reflects your books accurately. When it comes to comparing your balance sheet to your profit and loss, there are a couple of things to keep an eye on to make sure there aren't any possible errors. Here's an article to assist you with that: Net Income on the Balance Sheet report does not match the Net Income on the Profit and Loss report

 

In case the issue persists, please reach out to our tech support team so we can have a closer look at your file. Here's how to get in touch.

 

Dial 1-833-317-2226. The support hours, chat link, and other details can be found here: Intuit QuickBooks Desktop software support policies

 

I hope that helps! You're always welcome to stop by if you have more questions.

CGLtax
Level 1

Year end date quickbooks. My client corporation year end date is Mar 21 not end of the month, quickbooks gives an option of month and not date. How to do it?

This is a massive issue and the main reason why we do not recommend QBO to our clients.  We have many clients using January 1st as the fiscal year END date.  January 2nd is the start date.  Other software allows this.  When is QBO going to fix this?

Alex M
QuickBooks Team

Year end date quickbooks. My client corporation year end date is Mar 21 not end of the month, quickbooks gives an option of month and not date. How to do it?

Hi there CGLtax,

 

I can see how this would be a feature that would be useful for you and your clients. I can point you in the right direction.

 

The best way to request this as a feature would be to leave feedback by navigating to the Gear Icon, then Feedback. The developers take the comments written in that section under consideration when designing new features for QuickBooks Online.

 

If you have any other questions, feel free to reach out here.

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