Fiscal year
The twelve months your books are measured over. Most solo businesses use the calendar year.
In Solo Superstars
Set the fiscal year start under Settings › Tax profile. Year-to-date reports, the year-end close, and the roll of net income into retained earnings all key off it.
Example
A fiscal year starting July 1 means the 2026 year runs July 1, 2026 to June 30, 2027, and closes at the end of June.
Codes shown are the defaults a new workspace starts with. Yours may be renamed or renumbered — check Accounting › Chart of accounts. See the full default chart.
Also called
- FY
- financial year
Related
- Fiscal period — A month or a year of your books that can be closed and locked as a unit.
- Year-end close — Closing the fiscal year: zeroing revenue and expense accounts into retained earnings, rolling owner draws into equity, and locking the year.
- Retained earnings — Profit the business has kept over the years rather than paid out. Each year-end close moves net income here.