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Date Ranges for Fiscal Year End

DieterDorinDieterDorin Member Posts: 5

Maybe I'm missing something, but my Fiscal Year End date is Jan 31 and Wave has lots of preset date ranges to choose from when filtering transactions or reports by date range, but none of the year options are based on Fiscal Year, only calendar year. I have set my year end date correctly in settings, so why does it always default and offer only calendar year choices? When your year end is not Dec 31, you almost always want things filtered by Fiscal Year not calendar year. What is the use of putting the year end date of Jan 31 in settings if it ignores it in the data ranges and I have to customize it every time in each screen and it doesn't remember? Is there an easier way to do this that I don't know about?

in Using Wave

Comments

  • JulianPJulianP Member Posts: 1,002 ✭✭✭

    Hey @DieterDorin !

    As you may know, Wave automatically sets your fiscal year-end to December 31st. To change the fiscal year-end:

    1. Click on Settings on the bottom left of your screen.
    2. Under Accounting Click Dates & Currency.
    3. Choose the date you want to use and enter it next to Fiscal Year End.
    4. Click Save.

    Reports will normally default with the end date as the current date and start date from the start of the period based on the fiscal year you set on the Reports. If you want reports for previous years, you would still need to filter by dates.

  • DieterDorinDieterDorin Member Posts: 5

    Hey @JulianP. I appreciate the effort to reply but did you actually fully read my post? I have set my fiscal year end date to Jan 31 in settings but the year options etc for filters are still calendar years regardless. A reply telling me to do what I already did and posted does not help the situation. Why provide preset filter options that ignore the FYE settings?

    Happy New Year!!!

  • AlexLAlexL Member Posts: 2,869 ✭✭✭

    Hey @DieterDorin , the fiscal year setting will affect the the default date range filters on certain reports (e.g. the P&L always opens with the date range set to fiscal year start. When you access the P&L, it should show 2021 as the Date Range and 2020-02-01 as the starting date.

    If this isn't the case, please let us know and apply some screenshots of what you're seeing in your account and we can take a further look.

    edited January 6, 2021
  • VSB_GuyVSB_Guy Member Posts: 7

    Hi @AlexL, I've filled about a similar ticket last Summer about the year end display issue (June 30 year end) as 2021 shows as 2020 and 2020 shows as 2019... no response from Wave so far

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