What is Fiscal year in Salesforce?

Hi Laveena

– Used for an organization's financial planning
– Usually a year in length
– Impacts forecasts, quotas, and reports

Salesforce allows two types:

– Standard Fiscal Years are periods that follow the Gregorian calendar but can start on the first day of any
the month of the year. (A Gregorian Year is a calendar based on a 12 Month Structure and is used throughout
much of the world.)

– Custom Fiscal Years are for companies that break down their fiscal years, quarters and weeks into custom fiscal periods based on their financial planning requirements.
Forecasting can NOT be used with Custom Fiscal Years
Customizable Forecasting must be enabled for use with Custom Fiscal Years

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