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A fiscal year is a 12-month period organizations use for budgeting, reporting, and financial planning, which may differ from the calendar year.
Yes, nonprofits can typically choose the fiscal year that best matches their funding and activity cycles, unless restricted by specific regulations or grants.
Aplos allows you to set and customize your fiscal year, ensuring your budgets and reports align accurately with your organization's operating cycle.
Nonprofits often align their fiscal year with program or grant cycles, making financial tracking and reporting more relevant to their operations.
Yes, changing your fiscal year impacts how budgets, financial statements, and comparisons are prepared within your accounting software.