What brought it to my attention is when we do inquiries in the ledger. The periods in the "old" year (july 07-june 08) are accessed as 2008; the periods in our current fiscal year (july 08-june 09) are accessed as 2009. The IRS designates them as 2007 and 2008 respectively.

I think it is a setting(s) in the Fiscal Calendar that determines this and don't think it would pose a problem to change it, but I have learned that it pays to ask! It is not crucial but would be more clear to follow the IRS protocol.

Jody