Determine the fiscal year for a date and how far through it the date falls.
Whether the date falls before or after the fiscal start month determines which fiscal year it belongs to. Progress through the year is what budget pacing compares spend against. Comparing spend to budget without accounting for fiscal year progress is how departments discover in month eleven that they have overspent.
Fiscal Year
The fiscal year runs from the start month to the day before the same month next year
The fiscal year runs from the start month to the day before the same month next year Whether the date falls before or after the fiscal start month determines which fiscal year it belongs to. Progress through the year is what budget pacing compares spend against.
Comparing spend to budget without accounting for fiscal year progress is how departments discover in month eleven that they have overspent.
This calculator takes 4 inputs: Date year, Date month, Date day, Fiscal year start month. The pre-filled defaults are a realistic starting point — replace them with figures from your own environment for a result you can act on.