How to configure Configure Fiscal Year?

Field service organizations may define their fiscal year based on operational and financial cycles. Here are common approaches:

1. Seasonal Demand

For industries with seasonal peaks – such as HVAC, landscaping, or exterior maintenance – the fiscal year may be set to conclude after the busiest season. This allows a more accurate reflection of financial performance during peak activity.

Example: A cooling services company may end its fiscal year in September to capture summer revenues.

2. Project-Based Cycles

Businesses managing long-term projects, such as construction or industrial maintenance, may align the fiscal year with project completion cycles. This helps streamline revenue recognition and expense tracking.

Example: A contractor may end its fiscal year in June to coincide with the end of spring project deliveries.

Setting the Fiscal Year in Zoho FSM

To configure your organization’s fiscal year:

1. Navigate to Setup > General > Organization Details.
2. Under the Fiscal Year tab, click Manage Fiscal Year.

You can choose between a Standard Fiscal Year and a Custom Fiscal Year.

Standard Fiscal Year

This is a 12-month structure based on calendar months.

• By default, the fiscal year starts in January.
• To change the start month, select a different month from the Fiscal Year Begins In
• If the start month is not January, choose how the fiscal year should be displayed:
  • Starting Year (e.g. FY 2024 for a year starting April 2024)
  • Ending Year (e.g. FY 2025 for a year ending March 2025)

Custom Fiscal Year

This option uses a 52-week (364-day) structure, where quarters end consistently on the same day of the week (e.g. Sunday or Thursday), allowing for simplified weekly tracking.

To configure:

• Format: Choose either:
  • Quarter Based (structure defined as P1-P2-P3 for each quarter, where P1–P3 are the number of weeks in each period), or
  • Year Based (defined as Q1-Q2-Q3-Q4, where each represents the number of periods in a quarter)
• Start Date: Select the specific date the fiscal year should begin.
• Display Fiscal Year Based On:
  • Starting Year or
  • Ending Year
• Period Display: Choose how periods are labelled:
  • Number by Year (P1, P2, …, Pn for the entire year)
  • Number by Quarter (P1, P2, …, for each quarter separately)

Surplus Week Add-On

Since 52 weeks account for 364 days, a day is left uncounted each year. Over six years, this adds up to a full week. You can add this surplus week to a chosen period using the Add Surplus Week option.

Use Preview in Calendar to view how the fiscal year is structured before saving your configuration.

Viewing Previous Configurations

Changes made to the fiscal year are recorded. You can review the history of earlier fiscal years under the Earlier Years section on the Fiscal Year page.

Where is the Fiscal Year Used?

Your fiscal year settings are applied in reporting features, particularly in the Date & Time filter of Reports, where you can filter by Fiscal Year and Quarter.