From my experience, when the dates are changed manually so that one can run a report that corresponds with the desired "fiscal year" dates--the totals are fine, but if you need to "drill down" on a specific account to view specific expenses--the report will list itemized expenses for the portion of the current calendar year--but expenses prior to Dec 31 of the most previous fiscal year will show up as a total number labelled "retained earnings." QB defines calendar year and fiscal year as the same. Called customer support about this and was told that here was no way to adjust the fiscal year to be different than calendar year. Does not make sense to me.

Dennis Chicago