diff --git a/app/Http/Controllers/AccountController.php b/app/Http/Controllers/AccountController.php
index eaa3de6529..dc08c1af9d 100644
--- a/app/Http/Controllers/AccountController.php
+++ b/app/Http/Controllers/AccountController.php
@@ -429,6 +429,7 @@ class AccountController extends BaseController
             'currencies' => Cache::get('currencies'),
             'title' => trans('texts.localization'),
             'weekdays' => Utils::getTranslatedWeekdayNames(),
+            'months' => Utils::getMonthOptions(),
         ];
 
         return View::make('accounts.localization', $data);
@@ -674,11 +675,9 @@ class AccountController extends BaseController
      * @param $section
      * @return \Illuminate\Http\RedirectResponse
      */
-    public function doSection($section = ACCOUNT_COMPANY_DETAILS)
+    public function doSection($section)
     {
-        if ($section === ACCOUNT_COMPANY_DETAILS) {
-            return AccountController::saveDetails();
-        } elseif ($section === ACCOUNT_LOCALIZATION) {
+        if ($section === ACCOUNT_LOCALIZATION) {
             return AccountController::saveLocalization();
         } elseif ($section == ACCOUNT_PAYMENTS) {
             return self::saveOnlinePayments();
@@ -1225,6 +1224,7 @@ class AccountController extends BaseController
         $account->military_time = Input::get('military_time') ? true : false;
         $account->show_currency_code = Input::get('show_currency_code') ? true : false;
         $account->start_of_week = Input::get('start_of_week') ? Input::get('start_of_week') : 0;
+        $account->financial_year_start = Input::get('financial_year_start') ? Input::get('financial_year_start') : null;
         $account->save();
 
         event(new UserSettingsChanged());
diff --git a/app/Http/Controllers/DashboardApiController.php b/app/Http/Controllers/DashboardApiController.php
index d5ff416e7e..c6cf454666 100644
--- a/app/Http/Controllers/DashboardApiController.php
+++ b/app/Http/Controllers/DashboardApiController.php
@@ -23,8 +23,8 @@ class DashboardApiController extends BaseAPIController
 
         $dashboardRepo = $this->dashboardRepo;
         $metrics = $dashboardRepo->totals($accountId, $userId, $viewAll);
-        $paidToDate = $dashboardRepo->paidToDate($accountId, $userId, $viewAll);
-        $averageInvoice = $dashboardRepo->averages($accountId, $userId, $viewAll);
+        $paidToDate = $dashboardRepo->paidToDate($account, $userId, $viewAll);
+        $averageInvoice = $dashboardRepo->averages($account, $userId, $viewAll);
         $balances = $dashboardRepo->balances($accountId, $userId, $viewAll);
         $activities = $dashboardRepo->activities($accountId, $userId, $viewAll);
         $pastDue = $dashboardRepo->pastDue($accountId, $userId, $viewAll);
diff --git a/app/Http/Controllers/DashboardController.php b/app/Http/Controllers/DashboardController.php
index 50c5d3d394..14cb4c638b 100644
--- a/app/Http/Controllers/DashboardController.php
+++ b/app/Http/Controllers/DashboardController.php
@@ -33,9 +33,9 @@ class DashboardController extends BaseController
 
         $dashboardRepo = $this->dashboardRepo;
         $metrics = $dashboardRepo->totals($accountId, $userId, $viewAll);
-        $paidToDate = $dashboardRepo->paidToDate($accountId, $userId, $viewAll);
-        $averageInvoice = $dashboardRepo->averages($accountId, $userId, $viewAll);
-        $balances = $dashboardRepo->balances($accountId, $userId, $viewAll);
+        $paidToDate = $dashboardRepo->paidToDate($account, $userId, $viewAll);
+        $averageInvoice = $dashboardRepo->averages($account, $userId, $viewAll);
+        $balances = $dashboardRepo->balances($accountId, $userId, $viewAll);        
         $activities = $dashboardRepo->activities($accountId, $userId, $viewAll);
         $pastDue = $dashboardRepo->pastDue($accountId, $userId, $viewAll);
         $upcoming = $dashboardRepo->upcoming($accountId, $userId, $viewAll);
diff --git a/app/Http/Controllers/OnlinePaymentController.php b/app/Http/Controllers/OnlinePaymentController.php
index c49a4d6669..e7d709096e 100644
--- a/app/Http/Controllers/OnlinePaymentController.php
+++ b/app/Http/Controllers/OnlinePaymentController.php
@@ -75,6 +75,8 @@ class OnlinePaymentController extends BaseController
         }
 
         $invitation = $invitation->load('invoice.client.account.account_gateways.gateway');
+        $account = $invitation->account;
+        $account->loadLocalizationSettings($invitation->invoice->client);
 
         if ( ! $gatewayTypeAlias) {
             $gatewayTypeId = Session::get($invitation->id . 'gateway_type');
@@ -84,7 +86,7 @@ class OnlinePaymentController extends BaseController
             $gatewayTypeId = $gatewayTypeAlias;
         }
 
-        $paymentDriver = $invitation->account->paymentDriver($invitation, $gatewayTypeId);
+        $paymentDriver = $account->paymentDriver($invitation, $gatewayTypeId);
 
         try {
             return $paymentDriver->startPurchase(Input::all(), $sourceId);
diff --git a/app/Libraries/Utils.php b/app/Libraries/Utils.php
index 0b3984acc2..0d001697d6 100644
--- a/app/Libraries/Utils.php
+++ b/app/Libraries/Utils.php
@@ -22,6 +22,9 @@ class Utils
         "Sunday", "Monday", "Tuesday", "Wednesday", "Thursday", "Friday", "Saturday",
     ];
 
+    public static $months = [
+        'january', 'february', 'march', 'april', 'may', 'june', 'july', 'august', 'september', 'october', 'november', 'december',
+    ];
 
     public static function isRegistered()
     {
@@ -97,7 +100,7 @@ class Utils
         if (Utils::isNinjaProd()) {
             return false;
         }
-        
+
         return \App\Models\Account::first()->hasFeature(FEATURE_WHITE_LABEL);
     }
 
@@ -649,12 +652,23 @@ class Utils
             return Utils::getYear($offset);
         }
     }
+    
+    public static function getMonthOptions()
+    {
+        $months = [];
+
+        for ($i=1; $i<=count(static::$months); $i++) {
+            $month = static::$months[$i-1];
+            $number = $i < 10 ? '0' . $i : $i;
+            $months["2000-{$number}-01"] = trans("texts.{$month}");
+        }
+
+        return $months;
+    }
 
     private static function getMonth($offset)
     {
-        $months = ['january', 'february', 'march', 'april', 'may', 'june',
-            'july', 'august', 'september', 'october', 'november', 'december', ];
-
+        $months = static::$months;
         $month = intval(date('n')) - 1;
 
         $month += $offset;
diff --git a/app/Models/Account.php b/app/Models/Account.php
index 4db6511136..b1b9a1ad74 100644
--- a/app/Models/Account.php
+++ b/app/Models/Account.php
@@ -69,6 +69,7 @@ class Account extends Eloquent
         'enable_second_tax_rate',
         'include_item_taxes_inline',
         'start_of_week',
+        'financial_year_start',
     ];
 
     /**
diff --git a/app/Ninja/Repositories/DashboardRepository.php b/app/Ninja/Repositories/DashboardRepository.php
index 455497d130..f7cc88b6ca 100644
--- a/app/Ninja/Repositories/DashboardRepository.php
+++ b/app/Ninja/Repositories/DashboardRepository.php
@@ -175,29 +175,39 @@ class DashboardRepository
         return $metrics->groupBy('accounts.id')->first();
     }
 
-    public function paidToDate($accountId, $userId, $viewAll)
+    public function paidToDate($account, $userId, $viewAll)
     {
+        $accountId = $account->id;
         $select = DB::raw(
-            'SUM('.DB::getQueryGrammar()->wrap('clients.paid_to_date', true).') as value,'
+            'SUM('.DB::getQueryGrammar()->wrap('payments.amount', true).' - '.DB::getQueryGrammar()->wrap('payments.refunded', true).') as value,'
                   .DB::getQueryGrammar()->wrap('clients.currency_id', true).' as currency_id'
         );
-        $paidToDate = DB::table('accounts')
+        $paidToDate = DB::table('payments')
             ->select($select)
-            ->leftJoin('clients', 'accounts.id', '=', 'clients.account_id')
-            ->where('accounts.id', '=', $accountId)
-            ->where('clients.is_deleted', '=', false);
+            ->leftJoin('invoices', 'invoices.id', '=', 'payments.invoice_id')
+            ->leftJoin('clients', 'clients.id', '=', 'invoices.client_id')
+            ->where('payments.account_id', '=', $accountId)
+            ->where('clients.is_deleted', '=', false)
+            ->where('invoices.is_deleted', '=', false)
+            ->whereNotIn('payments.payment_status_id', [PAYMENT_STATUS_VOIDED, PAYMENT_STATUS_FAILED]);
 
         if (!$viewAll){
-            $paidToDate = $paidToDate->where('clients.user_id', '=', $userId);
+            $paidToDate->where('invoices.user_id', '=', $userId);
         }
 
-        return $paidToDate->groupBy('accounts.id')
-            ->groupBy(DB::raw('CASE WHEN '.DB::getQueryGrammar()->wrap('clients.currency_id', true).' IS NULL THEN CASE WHEN '.DB::getQueryGrammar()->wrap('accounts.currency_id', true).' IS NULL THEN 1 ELSE '.DB::getQueryGrammar()->wrap('accounts.currency_id', true).' END ELSE '.DB::getQueryGrammar()->wrap('clients.currency_id', true).' END'))
+        if ($account->financial_year_start) {
+            $yearStart = str_replace('2000', date('Y'), $account->financial_year_start);
+            $paidToDate->where('payments.payment_date', '>=', $yearStart);
+        }
+
+        return $paidToDate->groupBy('payments.account_id')
+            ->groupBy(DB::raw('CASE WHEN '.DB::getQueryGrammar()->wrap('clients.currency_id', true).' IS NULL THEN '.($account->currency_id ?: DEFAULT_CURRENCY).' ELSE '.DB::getQueryGrammar()->wrap('clients.currency_id', true).' END'))
             ->get();
     }
 
-    public function averages($accountId, $userId, $viewAll)
+    public function averages($account, $userId, $viewAll)
     {
+        $accountId = $account->id;
         $select = DB::raw(
             'AVG('.DB::getQueryGrammar()->wrap('invoices.amount', true).') as invoice_avg, '
                   .DB::getQueryGrammar()->wrap('clients.currency_id', true).' as currency_id'
@@ -213,7 +223,12 @@ class DashboardRepository
             ->where('invoices.is_recurring', '=', false);
 
         if (!$viewAll){
-            $averageInvoice = $averageInvoice->where('invoices.user_id', '=', $userId);
+            $averageInvoice->where('invoices.user_id', '=', $userId);
+        }
+
+        if ($account->financial_year_start) {
+            $yearStart = str_replace('2000', date('Y'), $account->financial_year_start);
+            $averageInvoice->where('invoices.invoice_date', '>=', $yearStart);
         }
 
         return $averageInvoice->groupBy('accounts.id')
diff --git a/resources/lang/en/texts.php b/resources/lang/en/texts.php
index 8e80b75c12..587733f4b9 100644
--- a/resources/lang/en/texts.php
+++ b/resources/lang/en/texts.php
@@ -1369,7 +1369,7 @@ $LANG = array(
     'failed_remove_payment_method' => 'Failed to remove the payment method',
     'gateway_exists' => 'This gateway already exists',
     'manual_entry' => 'Manual entry',
-    'start_of_week' => 'First day of the week',
+    'start_of_week' => 'First Day of the Week',
 
     // Frequencies
     'freq_weekly' => 'Weekly',
@@ -2174,6 +2174,7 @@ $LANG = array(
     'invalid_white_label_license' => 'The white label license is not valid',
     'created_by' => 'Created by :name',
     'modules' => 'Modules',
+    'financial_year_start' => 'First Month of the Year',
 
 );
 
diff --git a/resources/views/accounts/localization.blade.php b/resources/views/accounts/localization.blade.php
index f124410f0d..1d196bdec8 100644
--- a/resources/views/accounts/localization.blade.php
+++ b/resources/views/accounts/localization.blade.php
@@ -42,7 +42,7 @@
                 {!! Former::select('language_id')->addOption('','')
                     ->fromQuery($languages, 'name', 'id')
                     ->help(trans('texts.translate_app', ['link' => link_to(TRANSIFEX_URL, 'Transifex.com', ['target' => '_blank'])])) !!}
-                <br/>
+                <br/>&nbsp;<br/>
 
                 {!! Former::select('timezone_id')->addOption('','')
                     ->fromQuery($timezones, 'location', 'id') !!}
@@ -50,9 +50,16 @@
                     ->fromQuery($dateFormats) !!}
                 {!! Former::select('datetime_format_id')->addOption('','')
                     ->fromQuery($datetimeFormats) !!}
+                {!! Former::checkbox('military_time')->text(trans('texts.enable')) !!}
+
+                <br/>&nbsp;<br/>
+
                 {!! Former::select('start_of_week')->addOption('','')
                     ->fromQuery($weekdays) !!}
-                {!! Former::checkbox('military_time')->text(trans('texts.enable')) !!}
+                {!! Former::select('financial_year_start')
+                        ->addOption('','')
+                        ->options($months) !!}
+
 
                 </div>
             </div>