how do i change my income tax year to 1st April to 31st March?

Hi Rosalyn,

When you change your income tax year in QuickBooks Online, reports, such as Profit and Loss statement, will automatically update to reflect the new fiscal year. Before making this change, I recommend consulting with your accountant or bookkeeper to ensure the update aligns with your tax-filing requirements.

Once you're ready, you can follow these steps to update the Account and settings to match your preferred income tax year.:

1. From your Home (Dashboard) page, click Settings (gear icon) in the upper-right corner.
2. Select Account and settings and go to the Advanced tab.
3. Scroll down to Accounting section and click Edit.
4. Make the following changes:
   • First month of financial year: April
   • First month of tax year: Same as financial year
5. Click Save, then hit Done.
   

Your fiscal year will now start on April 1st and end on March 31st in QuickBooks Online.

Let us know if you have any further questions or need additional assistance.