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Report Option Fiscal Month or Year

george weers

My retirement income mostly comes near the end of the month. Different banking processes and holidays cause frequent income to be recorded after the beginning of the next month. This leads to distortion on most of the reports. I get some months with less Income and some months with more income.

Solution: Select the unusual month dates at report time. I use the 20th of the month is the beginning of the fiscal month. This is error prone. It must be done on every report. Easy to get the incorrect date and hard to catch the error.

Request: At report option screen add an option to select the fiscal month and/or year. Save this option.

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Comments

NotACPA

BUT, you're not asking for a "fiscal month or year" ... you're asking for a "fiscal day-by-day".

I dare say that it "ain't gonna happen" as it violates just about every principal of accounting.

UKR

If you have income that is scheduled to arrive at the last business day of the month but may be delayed a day or two ... why not record the scheduled reminder as if it arrived on the last day, even if it actually arrives late.
This would circumvent all your budget inconsistencies and you can use a standard monthly budget. Of course, this assumes that you have enough "float" in your checking account to avoid overdraft situations.

george weers

George is not an accountant. I was not aware of this accounting rule on fiscal dates.

Problem occurs because my SS check comes reliable on Wednesday of the 4th week. This makes the date unpredictable. My retirement checks appear when they want to depending on the banking transfer rules. When I retired and they asked when do I want my check I said the 25th, In both cases this was interrupted as cut the check on the 25th. Retirement systems do not allow for a changed pay date.

Adjusting the date is not an option because these checks come too many days apart.

Thanks for your help.

Rocket J Squirrel

george weers said:

Problem occurs because my SS check comes reliable on Wednesday of the 4th week. This makes the date unpredictable.

It's predictable in Quicken. Do you have your SS deposit set up as an automatic income reminder scheduled for the 4th Wednesday?

Rocket J Squirrel

Also, you mention checks. Are you actually getting paper checks? Perhaps if you have the issuers switch to electronic deposit the dates would be more consistent.