7.x Fiscal Year Setup | CLEARIFY

Fiscal Year Setup

There are two settings on this page:

1. 12 Month Fiscal Year settings
2. IRS 52/53 tax year 

12 Month Fiscal Year

• Fiscal Year first month is taken from the first file loaded in the QQube Configuration Tool
• Is a Global Setting for all QB files loaded in the QQube Database.

Three Year Summaries affect the following Analytics:

• Financial Summary
  • Balance Sheet Standard
  • Profit and Loss Standard
  • Statement of Cash Flows
  • Trial Balance Activity
• Profit and Loss with Actual/Budget/Forecast (QB Enterprise)
• Financial Summary by Class
  • Balance Sheet by Class
  • Profit and Loss by Class
  • Statement of Cash Flows by Class
  • Trial Balance Activity by Class
• Profit and Loss by Class with Actuals/Budget/Forecast (QB Enterprise)

These Financial Summary Analytics include all of the shortcut fields e.g. previous month, previous year, previous YTD, etc.

Alternatively, we have two 10 year analytics: Profit and Loss Freestyle and Profit and Loss by Class Freestyle which get around the 3 year limitation, but without the column shortcuts.

52/53 Tax Year

We implement the written IRS guidelines for this format.

52/53 tax year dates and buckets are available for the following analytics:

• 3 Year Financial Summaries
  • Profit and Loss 52/53 Period Summary
  • Profit and Loss by Class 52/53 Period Summary
• 10 Year Financial Summary
  • Profit and Loss Freestyle
  • Profit and Loss by Class Freestyle
• Detail Analytics
  • Sales and Open Sales Orders
  • Purchase and Open Purchase Orders
  • Inventory
  • Job Cost
  • General Ledger Detail
  • Audit Trail

You will see a Calendar Dimension that allows you to dissect your information by periods in a year, quarter, weeks in period, quarter, etc.