TaxBandits Knowledge Base

What is a prior year-to-date (YTD)?

Year-to-date (YTD) refers to the total amount that the business has spent from the beginning of the year(Fiscal year) to the current period. It can be determined from July 31 of the current year to June 30 of the next year. 

For example, consider that your business's fiscal year begins on July 31 of the current year. A year-to-date (YTD) payroll would involve all the gross pay reports for 12 months(i.e., July 31 - June 30). Use the previous year's YTD records with the current year's records to determine the business's upward and downward trends.