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Boise Idaho Business Guide: Calendar vs. Fiscal

The other choice you to make when deciding how to keep your books is the accounting period you intend to use.

Calendar Year

The calendar year end December 31. This is the period with which your probably most familiar with and the one most Idaho business with choose because it’s the easiest to work with.

Fiscal Year

In this case, the business picks a date other than December 31 to function as the end of the fiscal year. Many large organizations pick a date that coincides with the end of their business cycle. Th fiscal year is only used when it truly makes sense and is commonly used in your particular industry.

 

 

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