Fiscal Year End doesn't work in reports
VinR
Member Posts: 5
Hi I changed the fiscal year end to June 30th and when you go to report for the firs time it takes the correct date duration from previous year to this year, (please check the attach images) but when we select different year or even the same year again it start and end dates change to Jan 01 to Dec 31st 
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Comments
Hi @VinR , thanks for sharing this. I'll let my team know about this issue. If I understand correctly, you're trying to view the reports for the other fiscal years as per your saved settings?
Yes, there's a setting under Dates & Currency which allows you to set the Fiscal ending month and date instead of December 31st, and in most countries it will be June 30th, so once I set this, and go to any report for the first time it works fine (for ex: if I go to current year 2019 and it then automatically takes July 2018 to current date as shown in the second image I've attached above, but then if I select a different year (say 2018), then it should show me the transaction between July 2017 to June 2018, instead it reverts back to to Jan 2019 to Dec 2018 (check the third image above), again if I select 2019 again it does the same (which is not correct)
Yes this is an issue - I'm due to submit my corporate tax return, and I'll need to go through the individual transactions from July 31st 2017 to July 31st 2018 in order to rebuild an accurate balance sheet that I can use to submit the figures to the relevant tax authorities. Can you please mark this as an urgent bug? (it pretty much renders the software useless for companies that have an end date other than December 31st)
I got the same issue as @Sakshi
@alc, @JamesW, @VinR ....
Thank you all for your feedback. We have logged this bug for our accounting team to fix in the next month or two.
@JamesW There is a work around for you to satisfy your immediate need. If you open the 'Date Range' dropdown, you can use the 'Custom' date range to produce the report for your fiscal year.
I can set a custom date range for Profit and Loss statements. It's a pain to have to do that again and again even after I set my year end date in settings.
Facing the same issue and this is really frustrating to be honest. Despite of changing the fiscal year end date, there is no change to the reports. Every time, you have to select the date manually (1 July to June 30).
Hey @rali7. I appreciate the feedback here and totally understand your frustration. To be fully transparent, this is a low-priority fix at the moment since you can technically just use the workaround listed in the comments above. When we have more of an idea of when this will be resolved, we will be sure to let our users know.
Default year ends should be automatic.
I agree - I have input my year end in settings but Wave appears to do nothing with this information. When you want to check a report you have to go the 'custom' in the drop down box and go through the calendar twice to put year start and end dates in. Then what normally happens is I leave the 'reports' section to add or correct and transaction, return to reports to continue my review and have to go through the whole rigmarole again. Over and over and over.
I understand this is low priority because there is a workaround. Unfortunately the workaround is hideously cumbersome, so far as to be borderline unusable. This is a deal breaker. I haven't been a user for long but would not continue to use Wave if having reports which can be generated quickly using the business year end dates isn't even on the roadmap.
As an aside - the reports section date range drop down is full of calendar years and calendar quarters. None of these are useful to me as my year end is not 31 Dec. Even if I was quarterly reporting, which as a small business I am not, they still wouldn't be useful! Users should be able to save their preferred date ranges, and have these appear at the top of a (much shorter!) drop down list.
Yes I agree - the Reports drop down should have Fiscal Year, not Calendar Year. The workaround wastes a lot of time! This would solve the problem because even if your fiscal year matches the calendar year, the fiscal year drop down will still give you the correct reports.
This is SO annoying... How is this not standard practice? Nobody cares about calendar years unless it's their fiscal year!
haha low priority! It's not a pain until it's tax time and your running the report every 10 minutes.
Look forward to it being resolved
It might be low priority, but it's also low effort. I can't believe we are still waiting for this.
It was slated to be fixed in next month or two... in February 2019.
Wave, please have this fixed. It's really annoying if you have to use the "custom date range" every couple of minutes. Shouldn't this be a standard feature in all accounting software?
Current fiscal year, last fiscal year, current fiscal quarter, last fiscal quarter, etc.
I can't believe this isn't considered a HIGH priority.
Another year end, still no update? Why is there a Fiscal Year end field if it doesn't do anything?
This seems like an important feature in an accounting package.