What Should Our Fiscal Year End Be?
Many organizations automatically align their fiscal year so that it coincides with the calendar year.
Perhaps a calendar year end is a good choice for you, but there are issues that you should consider. Some of these are:
- If you anticipate trying to get government grants, it might help to be on the same fiscal year end as the government, September 30th.
- A calendar year end will make it difficult to have your financial reports prepared early enough to file your state registration requirements. You will need to request extensions each year.
- This would require you to prepare your financial reports and be audited during the auditor's busy season.
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