diff --git a/app/Traits/DateTime.php b/app/Traits/DateTime.php
index 5012ae4d9..abf0fc3fc 100644
--- a/app/Traits/DateTime.php
+++ b/app/Traits/DateTime.php
@@ -190,22 +190,14 @@ trait DateTime
 
     public function getMonthlyDateFormat($year = null)
     {
-        $format = 'M';
-
-        if ($this->getFinancialStart($year)->month != 1) {
-            $format = 'M Y';
-        }
+        $format = 'M Y';
 
         return $format;
     }
 
     public function getQuarterlyDateFormat($year = null)
     {
-        $format = 'M';
-
-        if ($this->getFinancialStart($year)->month != 1) {
-            $format = 'M Y';
-        }
+        $format = 'M Y';
 
         return $format;
     }
diff --git a/resources/lang/en-GB/general.php b/resources/lang/en-GB/general.php
index dd4dc25fe..b65eb7077 100644
--- a/resources/lang/en-GB/general.php
+++ b/resources/lang/en-GB/general.php
@@ -160,6 +160,7 @@ return [
     'recurring_and_more'    => 'Recurring and more..',
     'due_on'                => 'Due on',
     'amount_due'            => 'Amount due',
+    'financial_year'        => 'Financial Year',
 
     'card' => [
         'cards'                 => 'Card|Cards',
diff --git a/resources/views/partials/reports/filter.blade.php b/resources/views/partials/reports/filter.blade.php
index 2a4afc095..02c1ee41c 100644
--- a/resources/views/partials/reports/filter.blade.php
+++ b/resources/views/partials/reports/filter.blade.php
@@ -38,6 +38,10 @@
                     $value = (strpos(trans('general.' . $filter_name), '|') !== false) ? trans_choice('general.' . $filter_name, 1) : trans('general.' . $filter_name);
                 }
 
+                if ($key == 'year') {
+                    $value = trans('general.financial_year');
+                }
+
                 $type = 'select';
 
                 if (isset($class->filters['types']) && !empty($class->filters['types'][$filter_name])) {
@@ -60,10 +64,16 @@
                     'values' => $filter_values,
                 ];
             }
+
+            $filtered[] = [
+                'option' => 'year',
+                'operator' => '=',
+                'value' => \Date::now()->year,
+            ];
         @endphp
 
         <div class="align-items-center">
-            <x-search-string :filters="$filters" />
+            <x-search-string :filters="$filters" :filtered="$filtered" />
         </div>
     {!! Form::close() !!}
 </div>