Filtering Data By Custom Fiscal Years And Quarters Using Calculated Columns In Power BI

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There can be times when your date tables won’t have the custom fiscal years and quarters that you require as filters for your analysis. In this tutorial, we are going to discuss how you can filter your data by financial or fiscal years and quarters using calculated columns in Power BI.

I’ve already seen inquiries regarding this topic a couple of times in the Enterprise DNA Forum.

Fiscal Year In Power BI

A fiscal year, also known as a financial year is a one-year period chosen by a company to report its financial information or finances. These finances can be referred to as the past year’s revenue, costs, and even profit margin.

When the period of a year starts on January 1 and ends on December 31, the company uses the calendar year as its fiscal year. Any other start date besides January 1 indicates a fiscal year that is not a calendar year.

Filtering your data by fiscal years makes it easier to see how your business has done for the whole year. There are few ways to do the filtering. However, in this tutorial, we’ll focus on the simplest way that you can quickly implement this in your date tables whenever you require it.

All we have to do is to use a current date table that we may already have inside our model.

Sample date table in a data model

If you want to learn how to create a date table then check out the link below.

Create A Detailed Date Table Fast

Discussing The Main Problem

Initially, the MonthName column is arranged based on the calendar year.

MonthName column that is sorted based on the calendar year in Power BI

Now, I’d like to sort this by a custom fiscal year then make July the first month and June the last month of the financial/fiscal year.

In this instance, what we primarily need to do is to create a new calculated column that will serve as our month sorting column.

Creating Calculated Columns In Power BI

A calculated column is an extension of a table using a DAX formula that is evaluated for each row. These calculated columns are computed based on data that has already been loaded into your data model.

When you write a calculated column formula, it is automatically applied to the whole table and individually evaluates each row.

In this current issue that we need to address, there’s no need for us to create a new date table because we can simply use the current one. One example of a calculated column that we have created in our current date table is the YearWeekSort column.

YearWeekSort column in the sample date table within a data model in Power BI

To create a calculated column, just click the New Column option under the Modeling Tab.

New Column option within Modeling tab in Power BI

Alternatively, you can right-click on the table and select New column.

Alternative way of creating new column in Power BI

After clicking the New Column option, the new calculated column will appear.

The newly-added column in a date table which will be used for sorting months

Creating The Fiscal Month Number Measure

Subsequently, we can create the measure for that newly-added column. Just click the column and the formula bar will appear.

Formula bar for the calculated column that was created within the date table in Power BI

This is where we will specify the formula/measure for the calculated column that we have just created. We will refer to this measure as the Fiscal month number.

Fiscal Month Number measure for the newly-added calculated column in Power BI

Now, we’ll do a simple IF logic for the Fiscal month number. The primary field that we need to consider for the IF logic is the Dates[MonthOfYear].

Integrating MonthOfYear column within the IF logic for filtering data by financial or fiscal years using calculated columns in Power BI.

Then, we need to evaluate if the value of the MonthOfYear column is greater than six.

Evaluating the MonthOfYear column within the IF logic for filtering data by financial or fiscal years using calculated columns in Power BI.

If the condition is true, we’ll subtract 6 from the value of the MonthOfYear column.

Subtracting 6 to the value of the MonthOfYear column within the IF logic for filtering data by financial or fiscal years using calculated columns in Power BI.

If not, we will add 6 to the value of the MonthOfYear column instead.

Adding 6 to the value of the MonthOfYear column within the IF logic for filtering data by financial or fiscal years using calculated columns in Power BI.

To further analyze the data, think of January as the initial value of MonthOfYear which is numerically equal to 1. And 1 is definitely not greater than 6. In that case, we will add 6 to the value of MonthOfYear which will equal 7. And that would make January as the seventh month and July as the first month.

After setting the formula, you can go to the Data view and check the highlighted column. As you can see, we now have a month number that we can use to sort the months.

The newly-added Fiscal Month Number column  for filtering data by financial or fiscal years using calculated columns in Power BI.

You can also see the new column in the Fields list.

Fiscal Month Number column  in the Fields list.

Sorting The MonthName Column By Fiscal Month Number

To verify if our formula is correct, select the MonthName column in our date table.

Selecting the MonthName column from the date table in Power BI

We will then sort this column by Fiscal Month Number. To do this, just select the Sort By Column option from the Modeling Tab then choose Fiscal Month Number.

Sorting the MonthName column by Fiscal Month Number

After that, go to the Report View and you will see that our months are now from July to June. This validates that our Fiscal Month Number measure is working accurately.

Sorted MonthName column in Report View

Creating The Fiscal Quarter Number Measure

Now that we have learned how to filter data by a fiscal year using calculated columns in Power BI the next thing that we need to learn is how to identify the fiscal year quarters, so we need to implement another sorting formula.

Let’s create a new calculated column where we can implement the measure for fiscal or financial quarter. We will refer to this as the Fiscal Quarter Number.

Fiscal Quarter Number measure for the fiscal quarter sorting in Power BI

The first thing we need to do is to type an opening and closing parenthesis. Inside the parenthesis we need to get the sum of 2 and the value of the Fiscal Month Number.

Getting the sum of 2 and the value of the Fiscal Month Number.

Then divide the result by 3.

Diving the sum of 2 and the value of the Fiscal Month Number by 3

Now, if you check the date table, you’ll see that it has produced decimal points in the Fiscal Month Number column.

Looking further into details, 1 is the initial value of the Fiscal Month Number. If we add 2 to 1, the sum will be 3. Then, the sum will be divided by 3, which will produce 1 as the quotient.

As a result, 1 will be the equivalent Fiscal Quarter value of the first fiscal month number, 1.33 for the second, and 1.66 for the third month.

Result of the Fiscal Quarter Number measure that was made using a calculated column in Power BI

To round the value down to the nearest integer, we need to include INT, which represents integer, in our formula. Then, enclose the logic inside a parenthesis.

Including INT in the formula for the Fiscal Quarter Number measure

Let’s now check out the result of our new measure. As you can see, the corresponding value of the first to third month in the Fiscal Quarter Number column is 1. Then the fourth to sixth month’s Fiscal Quarter Number value is 2 and so on.

Result of the Fiscal Quarter Number measure

This validates the accuracy of our Fiscal Quarter Number measure by setting 3 months for each quarter.

Creating The Fiscal Quarter Column

Now, let’s add one more column that we will refer to as the Fiscal Quarter.

Creating a Fiscal Quarter column in Power BI

What we’re going to do here is to concatenate the letter “Q” to every value of the Fiscal Quarter Number.

Concatenating the letter “Q” to every value of the Fiscal Quarter Number

As a result, we should have this new column for the Fiscal Quarter.

new column for the Fiscal Quarter

This can also be used as a customized graphic filter, also known as a slicer for our visualizations in the Report View.

Fiscal Quarter column as a customized graphic filter or slicer for visualizations in the Report View

Conclusion

If your report is in anything but a calendar year, implementing this type of logic inside your date table is going to be absolutely essential to get the correct numbers and figures showcased in your visualizations.

Making sure that you can dynamically filter by financial years is very important when analyzing any type of financial results within organizations.

The key point here is to make sure that the previously discussed logic or formula is integrated into the date table in your data model.

By using calculated columns in Power BI, you can integrate your own calculations inside your date table, and the filtering becomes dynamically seamless. Furthermore, enriching your data model with your own calculations will make your reports infinitely more powerful.

Good luck with reviewing this technique.

Sam

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***** Related Links*****
Sorting Dates By Financial Year In Power BI
Calculate Financial Year To Date (FYTD) Sales In Power BI Using DAX
How To Create Custom Financial Year Quarters – Power BI

***** Related Course Modules*****
 Filtering By Fiscal Or Financial Year Months & Quarters In Power BI
 Measures vs Calculated Columns
How To Create Custom Financial Year Quarters – Power BI

***** Related Support Forum Posts*****
Fiscal Year -> Calendar Year
Current Financial Year
How to calculate Current Fiscal Year Value

For more fiscal year queries to review see here…..

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