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Support for Financial year
Is your feature request related to a problem? Please describe. In this application, I have found that the application treats January as the first month of a financial year, but in India, a financial year starts on the 1st of April. I guess different parts of the globe may have different dates or months of the year as the first month of the financial year.
Describe the solution you'd like Add an option for the financial year to choose the date and the month under the general setting option and this setting can be obeyed in the chart sections under the statement of assets and performance in Reports.
Describe alternatives you've considered I have not considered any alternative for this issue.
Additional context
Something similar to this under the setting would be great
Can you elaborate the benefit for a fiscal year?
You are completely free to choose any date for reports and analysis?
This can fix the issue in the chart section of the application, as of now quarter 1 is regarded as January to March but for us, Quater 1 is from April to June, and this difference in the months creates some confusion while looking at the chart and this confusion can be removed by introducing this financial year concept in the setting.
Where in the charts can you set to quarterly?
Charts have the following options:
In case you are talking about this:
This is not related to a fiscal year, but calendar only.
No, I am not talking about those sections, I am talking about
and when this chart is Zoom in X axis it shows
Similar behavior is seen under the second chart option
Zoom in X axis
Hi there,
even those charts doesn't have a quarterly selection and there is no relation to a fiscal year at all... all range are related to the current date, except the last three.
Please look closely at the first and the third images above there are Q1 2004, Q2 2004, and so on, they appear as the quarter demarcator in the chart and when this chart is zoomed along the X axis, they reveal the respective months in those quarters, the relationship of the Q1 2004 with the respective month part is January to March but I was expecting Q1 2004 to show April to May, and this behavior is somewhat confusing, and this can be controlled by implementing the financial year concept in the setting so that the grasp can be in sync to each other
Now I got you. Understood.
Yes you are right, depending on the timeframe you are looking, the division is either yearly or quarterly. But this isn't depending on a fiscal year. It's calendar based only. Jan- Dec.
The only possibly you have is making use of a different calendar type based on your location:
But this influence saving plans, opening time from stock exchange, performance only.
To be honest, even now I do understand what you like to achieve I do not see any benefit as companies vary their fiscal year independently. Further you can use the measurement tool to define a certain performance.
I have tried all the different calendars option but none has solved my issue, so I request to implement an option for the beginning of the year or financial year setting in the calendar setting so that this issue can be fixed in the charts
I was looking at it on wikipedia, it is not just India. https://en.wikipedia.org/wiki/Fiscal_year then :
UK : FY starts on 6th April.
What ?? 😆 https://www.taxadvisorypartnership.com/tax-compliance/why-does-the-uk-tax-year-start-on-6-april-each-year/
To be honest, even now I do understand what you like to achieve I do not see any benefit as companies vary their fiscal year independently. Further you can use the measurement tool to define a certain performance.
Imagine PP had no annual reporting. That is effectively the situation for those that use a non-calendar year because the annual reporting is meaningless to them.
The only realistic option is report outside of PP (the measurement tool is not a realistic alternative).