What is a fiscal calendar?

Each fiscal calendar contains one or more fiscal years, and each fiscal year contains multiple periods. Fiscal calendars can be based on a January 1 to December 31 calendar year, or on any dates that you select. For example, some organizations select a fiscal calendar that starts on July 1 of one year and ends on June 30 of the following year.

Is a calendar year a fiscal year?

Many companies use the calendar year as their fiscal year, while others choose a different start and end date for their 12-month period. The calendar year is also called the civil year and contains a full 365 days or 366 for a leap year. It is divided up into months, weeks, and days.

Does the fiscal year line up with the traditional calendar year?

The fiscal year, a period of 12 months ending on the last day of the month, does not line up with the traditional calendar year. Learn when you should use each.