If a fiscal year begins 4/1/06, is it considered FY06 or FY07?

Answer 1

FY2006. Prior to that it was still FY2005. I used to do AP for a company that did that. They had their files that way, too. It was very confusing.

Answer 2

Where I work, July 1st begins a new fiscal year. So, on July 1st 2006 it's FY07.
Our new pay schedule became effective in 6/18/06 and received the COL increase on our paychecks, the first payday of July. The pay schedule is now adjusted for Fiscal Year 07.

Answer 3

FY 07

Answer 4

FY07