Using Custom Fiscal Years

26 March 5, 2024

FinJinni provides several options for customizing your fiscal year reporting:

 

  1. Annual: You can use a starting month other than January. The fiscal year will start on the first date of that month. If you specify a starting month in QuickBooks, FinJinni will use that by default. For specialized reporting needs, you can change the month in FinJinni without modifying your QuickBooks company.

 

  1. 13 by 4-Week Periods: The year consists of 52 weeks divided into 13 “months” of 4 weeks each. A 53th week is added when needed. This setting only affects reporting in FinJinni. Your QuickBooks company is unchanged.

 

  1. 4-4-5-Week Periods: The year consists of 52 weeks divided into 4 quarters of 13 weeks each. A 53th week is added when needed. This setting only affects reporting in FinJinni. Your QuickBooks company is unchanged.

 

  1. 5-4-4-Week Periods: Similar to 4-4-5 with the extra week in the first period.

 

For options #2 and #3, you should specify a starting day of week for the fiscal year to use a consistent day of the week instead of the first of the month.

You can also define the fiscal year by the day on which it ends. For example, choose the last Sunday in May. The fiscal year will then start on the Monday following, which can either be the last Monday in May or June 1.

To select a custom fiscal year, press the Settings button as shown here:

You will be presented with this selection screen:

Or, if defining the end of the year:

Notes:

  1. When you change these reporting settings, you must perform a full reload of your company data for them to take effect.
  1. When you are consolidating multiple companies, all companies in the same database must have the same fiscal year settings.
  1. The settings you choose do not need to be the same as what you have defined in QuickBooks. Fiscal periods are recalculated as FinJinni loads data from QuickBooks.
  1. You can verify the date calculations by using a query Transaction Date to Fiscal Period Mapping” under “System Maintenance Queries”. Refer to the Queries Manual for instructions on how to run queries.