Fiscal year

Meaning

A fiscal year is a 12-month period that makes up the financial year of a business. It can also be called a tax year or financial year.

Key points

• Fiscal year appears frequently in invoicing, payment handling, and bookkeeping workflows.
• The term improves clarity between clients, suppliers, and accounting teams.
• Consistent use supports cleaner documentation and better reporting quality.

Practical use

In Nexbal workflows, fiscal year is used to keep invoice and payment operations structured and auditable.