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Understanding the difference between fiscal and calendar years is crucial for businesses, especially LLCs and S Corps. Fiscal year refers to a company's annual financial reporting period, which can differ from the calendar year. This article explains fiscal years in simple terms, highlights the difference between fiscal and calendar years, and provides tips on how to manage fiscal year dates in Power BI and Excel. Learn the basics and stay on top of your financial reporting with this straight-to-the-point guide.

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