Generate a Balance Sheet report for a subsidiary with a different fiscal year.

Notes:  This is applicable when the parent company operates on a fiscal year, for example, that ends in June 2011 while one subsidiary reports on a calendar year basis.

Running the Balance Sheet for the subsidiary as of December 2011 will show Net Income only from July 2011 to December 2011. 

Starting in version 2012.2, the ability to set different fiscal calendars for specific subsidiaries is now possible when the new Multiple Calendar feature is enabled.

If this feature is not enabled, users can still run a Balance Sheet with a different fiscal year by following the steps on this article.  

Solution/Workaround:

Customize the Balance Sheet Detail report to show income from the beginning of the subsidiary's fiscal year:

1. Navigate to Reports > Financial > Balance Sheet > Detail.

2. On the Subsidiary Context footer, select the appropriate subsidiary.

3. On the From field, select the start period of the fiscal year of the subsidiary (January 2011).

4. On the To field, select the end period of the subsidiary fiscal year (December 2011).

5. Click Refresh. Notice that the Net Income section only shows Net Income starting from the end of the parent company's fiscal year (June 2011).

6. Click Customize.

7. On the Edit Layout page, expand the Retained Earnings section. 

8. Click on the Net Income (Balance Forward to Beginning of Year) section.

9. On the Relative Range fields, set it to Balance Forward to Start Date.

10. Click on the Net Income section from the Layout pane. 

11. On the Relative Range fields, select Start Date to End Date.

12. Save the report.