diff --git a/erpnext/accounts/report/balance_sheet/balance_sheet.py b/erpnext/accounts/report/balance_sheet/balance_sheet.py
index cb1fdc1..a858c19 100644
--- a/erpnext/accounts/report/balance_sheet/balance_sheet.py
+++ b/erpnext/accounts/report/balance_sheet/balance_sheet.py
@@ -9,6 +9,7 @@
 
 def execute(filters=None):
 	period_list = get_period_list(filters.from_fiscal_year, filters.to_fiscal_year,
+		filters.period_start_date, filters.period_end_date, filters.filter_based_on,
 		filters.periodicity, company=filters.company)
 
 	currency = filters.presentation_currency or frappe.get_cached_value('Company',  filters.company,  "default_currency")
diff --git a/erpnext/accounts/report/cash_flow/cash_flow.js b/erpnext/accounts/report/cash_flow/cash_flow.js
index 904874f..e5d0c89 100644
--- a/erpnext/accounts/report/cash_flow/cash_flow.js
+++ b/erpnext/accounts/report/cash_flow/cash_flow.js
@@ -9,7 +9,7 @@
 	// filter. It won't be used in cash flow for now so we pop it. Please take
 	// of this if you are working here.
 
-	frappe.query_reports["Cash Flow"]["filters"].splice(5, 1);
+	frappe.query_reports["Cash Flow"]["filters"].splice(8, 1);
 
 	frappe.query_reports["Cash Flow"]["filters"].push(
 		{
diff --git a/erpnext/accounts/report/cash_flow/cash_flow.py b/erpnext/accounts/report/cash_flow/cash_flow.py
index be6e93c..cf0946b 100644
--- a/erpnext/accounts/report/cash_flow/cash_flow.py
+++ b/erpnext/accounts/report/cash_flow/cash_flow.py
@@ -17,7 +17,8 @@
 		return execute_custom(filters=filters)
 
 	period_list = get_period_list(filters.from_fiscal_year, filters.to_fiscal_year,
-		filters.periodicity, filters.accumulated_values, filters.company)
+		filters.period_start_date, filters.period_end_date, filters.filter_based_on,
+		filters.periodicity, company=filters.company)
 
 	cash_flow_accounts = get_cash_flow_accounts()
 
diff --git a/erpnext/accounts/report/consolidated_financial_statement/consolidated_financial_statement.js b/erpnext/accounts/report/consolidated_financial_statement/consolidated_financial_statement.js
index 92c5ee9..38fd5fa 100644
--- a/erpnext/accounts/report/consolidated_financial_statement/consolidated_financial_statement.js
+++ b/erpnext/accounts/report/consolidated_financial_statement/consolidated_financial_statement.js
@@ -13,6 +13,39 @@
 			"reqd": 1
 		},
 		{
+			"fieldname":"filter_based_on",
+			"label": __("Filter Based On"),
+			"fieldtype": "Select",
+			"options": ["Fiscal Year", "Date Range"],
+			"default": ["Fiscal Year"],
+			"reqd": 1,
+			on_change: function() {
+				let filter_based_on = frappe.query_report.get_filter_value('filter_based_on');
+				frappe.query_report.toggle_filter_display('from_fiscal_year', filter_based_on === 'Date Range');
+				frappe.query_report.toggle_filter_display('to_fiscal_year', filter_based_on === 'Date Range');
+				frappe.query_report.toggle_filter_display('period_start_date', filter_based_on === 'Fiscal Year');
+				frappe.query_report.toggle_filter_display('period_end_date', filter_based_on === 'Fiscal Year');
+
+				frappe.query_report.refresh();
+			}
+		},
+		{
+			"fieldname":"period_start_date",
+			"label": __("Start Date"),
+			"fieldtype": "Date",
+			"default": frappe.datetime.nowdate(),
+			"hidden": 1,
+			"reqd": 1
+		},
+		{
+			"fieldname":"period_end_date",
+			"label": __("End Date"),
+			"fieldtype": "Date",
+			"default": frappe.datetime.add_months(frappe.datetime.nowdate(), 12),
+			"hidden": 1,
+			"reqd": 1
+		},
+		{
 			"fieldname":"from_fiscal_year",
 			"label": __("Start Year"),
 			"fieldtype": "Link",
diff --git a/erpnext/accounts/report/consolidated_financial_statement/consolidated_financial_statement.py b/erpnext/accounts/report/consolidated_financial_statement/consolidated_financial_statement.py
index 461291b..b62238b 100644
--- a/erpnext/accounts/report/consolidated_financial_statement/consolidated_financial_statement.py
+++ b/erpnext/accounts/report/consolidated_financial_statement/consolidated_financial_statement.py
@@ -4,7 +4,7 @@
 from __future__ import unicode_literals
 import frappe, erpnext
 from frappe import _
-from frappe.utils import flt, cint
+from frappe.utils import flt, cint, getdate
 from erpnext.accounts.report.utils import get_currency, convert_to_presentation_currency
 from erpnext.accounts.report.financial_statements import get_fiscal_year_data, sort_accounts
 from erpnext.accounts.report.balance_sheet.balance_sheet import (get_provisional_profit_loss,
@@ -208,17 +208,24 @@
 
 	company_currency = get_company_currency(filters)
 
+	if filters.filter_based_on == 'Fiscal Year':
+		start_date = fiscal_year.year_start_date
+		end_date = fiscal_year.year_end_date
+	else:
+		start_date = filters.period_start_date
+		end_date = filters.period_end_date
+
 	gl_entries_by_account = {}
 	for root in frappe.db.sql("""select lft, rgt from tabAccount
 			where root_type=%s and ifnull(parent_account, '') = ''""", root_type, as_dict=1):
 
-		set_gl_entries_by_account(fiscal_year.year_start_date,
-			fiscal_year.year_end_date, root.lft, root.rgt, filters,
+		set_gl_entries_by_account(start_date,
+			end_date, root.lft, root.rgt, filters,
 			gl_entries_by_account, accounts_by_name, ignore_closing_entries=False)
 
-	calculate_values(accounts_by_name, gl_entries_by_account, companies, fiscal_year, filters)
+	calculate_values(accounts_by_name, gl_entries_by_account, companies, start_date, filters)
 	accumulate_values_into_parents(accounts, accounts_by_name, companies)
-	out = prepare_data(accounts, fiscal_year, balance_must_be, companies, company_currency)
+	out = prepare_data(accounts, start_date, end_date, balance_must_be, companies, company_currency)
 
 	if out:
 		add_total_row(out, root_type, balance_must_be, companies, company_currency)
@@ -229,7 +236,7 @@
 	return (filters.get('presentation_currency')
 		or frappe.get_cached_value('Company',  filters.company,  "default_currency"))
 
-def calculate_values(accounts_by_name, gl_entries_by_account, companies, fiscal_year, filters):
+def calculate_values(accounts_by_name, gl_entries_by_account, companies, start_date, filters):
 	for entries in gl_entries_by_account.values():
 		for entry in entries:
 			key = entry.account_number or entry.account_name
@@ -241,7 +248,7 @@
 						and entry.company in companies.get(company)):
 						d[company] = d.get(company, 0.0) + flt(entry.debit) - flt(entry.credit)
 
-				if entry.posting_date < fiscal_year.year_start_date:
+				if entry.posting_date < getdate(start_date):
 					d["opening_balance"] = d.get("opening_balance", 0.0) + flt(entry.debit) - flt(entry.credit)
 
 def accumulate_values_into_parents(accounts, accounts_by_name, companies):
@@ -295,10 +302,8 @@
 			`tabAccount` where company = %s and root_type = %s
 		""" , (filters.get('company'), root_type), as_dict=1)
 
-def prepare_data(accounts, fiscal_year, balance_must_be, companies, company_currency):
+def prepare_data(accounts, start_date, end_date, balance_must_be, companies, company_currency):
 	data = []
-	year_start_date = fiscal_year.year_start_date
-	year_end_date = fiscal_year.year_end_date
 
 	for d in accounts:
 		# add to output
@@ -309,8 +314,8 @@
 			"account": _(d.account_name),
 			"parent_account": _(d.parent_account),
 			"indent": flt(d.indent),
-			"year_start_date": year_start_date,
-			"year_end_date": year_end_date,
+			"year_start_date": start_date,
+			"year_end_date": end_date,
 			"currency": company_currency,
 			"opening_balance": d.get("opening_balance", 0.0) * (1 if balance_must_be == "Debit" else -1)
 		})
diff --git a/erpnext/accounts/report/financial_statements.py b/erpnext/accounts/report/financial_statements.py
index e760b79..81effd0 100644
--- a/erpnext/accounts/report/financial_statements.py
+++ b/erpnext/accounts/report/financial_statements.py
@@ -18,17 +18,20 @@
 from six import itervalues
 from erpnext.accounts.doctype.accounting_dimension.accounting_dimension import get_accounting_dimensions, get_dimension_with_children
 
-def get_period_list(from_fiscal_year, to_fiscal_year, periodicity, accumulated_values=False,
+def get_period_list(from_fiscal_year, to_fiscal_year, period_start_date, period_end_date, filter_based_on, periodicity, accumulated_values=False,
 	company=None, reset_period_on_fy_change=True):
 	"""Get a list of dict {"from_date": from_date, "to_date": to_date, "key": key, "label": label}
 		Periodicity can be (Yearly, Quarterly, Monthly)"""
 
-	fiscal_year = get_fiscal_year_data(from_fiscal_year, to_fiscal_year)
-	validate_fiscal_year(fiscal_year, from_fiscal_year, to_fiscal_year)
-
-	# start with first day, so as to avoid year to_dates like 2-April if ever they occur]
-	year_start_date = getdate(fiscal_year.year_start_date)
-	year_end_date = getdate(fiscal_year.year_end_date)
+	if filter_based_on == 'Fiscal Year':
+		fiscal_year = get_fiscal_year_data(from_fiscal_year, to_fiscal_year)
+		validate_fiscal_year(fiscal_year, from_fiscal_year, to_fiscal_year)
+		year_start_date = getdate(fiscal_year.year_start_date)
+		year_end_date = getdate(fiscal_year.year_end_date)
+	else:
+		validate_dates(period_start_date, period_end_date)
+		year_start_date = getdate(period_start_date)
+		year_end_date = getdate(period_end_date)
 
 	months_to_add = {
 		"Yearly": 12,
@@ -42,6 +45,9 @@
 	start_date = year_start_date
 	months = get_months(year_start_date, year_end_date)
 
+	if (months // months_to_add) != (months / months_to_add):
+		months += months_to_add
+
 	for i in range(months // months_to_add):
 		period = frappe._dict({
 			"from_date": start_date
@@ -103,9 +109,18 @@
 
 
 def validate_fiscal_year(fiscal_year, from_fiscal_year, to_fiscal_year):
-	if not fiscal_year.get('year_start_date') and not fiscal_year.get('year_end_date'):
+	if not fiscal_year.get('year_start_date') or not fiscal_year.get('year_end_date'):
+		frappe.throw(_("Start Year and End Year are mandatory"))
+
+	if getdate(fiscal_year.get('year_end_date')) < getdate(fiscal_year.get('year_start_date')):
 		frappe.throw(_("End Year cannot be before Start Year"))
 
+def validate_dates(from_date, to_date):
+	if not from_date or not to_date:
+		frappe.throw("From Date and To Date are mandatory")
+
+	if to_date < from_date:
+		frappe.throw("To Date cannot be less than From Date")
 
 def get_months(start_date, end_date):
 	diff = (12 * end_date.year + end_date.month) - (12 * start_date.year + start_date.month)
diff --git a/erpnext/accounts/report/profit_and_loss_statement/profit_and_loss_statement.py b/erpnext/accounts/report/profit_and_loss_statement/profit_and_loss_statement.py
index 81fb1e0..7caa764 100644
--- a/erpnext/accounts/report/profit_and_loss_statement/profit_and_loss_statement.py
+++ b/erpnext/accounts/report/profit_and_loss_statement/profit_and_loss_statement.py
@@ -9,7 +9,8 @@
 
 def execute(filters=None):
 	period_list = get_period_list(filters.from_fiscal_year, filters.to_fiscal_year,
-		filters.periodicity, filters.accumulated_values, filters.company)
+		filters.period_start_date, filters.period_end_date, filters.filter_based_on, filters.periodicity,
+		company=filters.company)
 
 	income = get_data(filters.company, "Income", "Credit", period_list, filters = filters,
 		accumulated_values=filters.accumulated_values,
diff --git a/erpnext/public/js/financial_statements.js b/erpnext/public/js/financial_statements.js
index dead309..296c628 100644
--- a/erpnext/public/js/financial_statements.js
+++ b/erpnext/public/js/financial_statements.js
@@ -79,6 +79,39 @@
 			"options": "Finance Book"
 		},
 		{
+			"fieldname":"filter_based_on",
+			"label": __("Filter Based On"),
+			"fieldtype": "Select",
+			"options": ["Fiscal Year", "Date Range"],
+			"default": ["Fiscal Year"],
+			"reqd": 1,
+			on_change: function() {
+				let filter_based_on = frappe.query_report.get_filter_value('filter_based_on');
+				frappe.query_report.toggle_filter_display('from_fiscal_year', filter_based_on === 'Date Range');
+				frappe.query_report.toggle_filter_display('to_fiscal_year', filter_based_on === 'Date Range');
+				frappe.query_report.toggle_filter_display('period_start_date', filter_based_on === 'Fiscal Year');
+				frappe.query_report.toggle_filter_display('period_end_date', filter_based_on === 'Fiscal Year');
+
+				frappe.query_report.refresh();
+			}
+		},
+		{
+			"fieldname":"period_start_date",
+			"label": __("Start Date"),
+			"fieldtype": "Date",
+			"default": frappe.datetime.nowdate(),
+			"hidden": 1,
+			"reqd": 1
+		},
+		{
+			"fieldname":"period_end_date",
+			"label": __("End Date"),
+			"fieldtype": "Date",
+			"default": frappe.datetime.add_months(frappe.datetime.nowdate(), 12),
+			"hidden": 1,
+			"reqd": 1
+		},
+		{
 			"fieldname":"from_fiscal_year",
 			"label": __("Start Year"),
 			"fieldtype": "Link",