diff --git a/erpnext/accounts/utils.py b/erpnext/accounts/utils.py
index ef9a8f36f2..7c28d831ae 100644
--- a/erpnext/accounts/utils.py
+++ b/erpnext/accounts/utils.py
@@ -183,6 +183,7 @@ def get_balance_on(
 	cost_center=None,
 	ignore_account_permission=False,
 	account_type=None,
+	start_date=None,
 ):
 	if not account and frappe.form_dict.get("account"):
 		account = frappe.form_dict.get("account")
@@ -196,6 +197,8 @@ def get_balance_on(
 		cost_center = frappe.form_dict.get("cost_center")
 
 	cond = ["is_cancelled=0"]
+	if start_date:
+		cond.append("posting_date >= %s" % frappe.db.escape(cstr(start_date)))
 	if date:
 		cond.append("posting_date <= %s" % frappe.db.escape(cstr(date)))
 	else:
diff --git a/erpnext/setup/doctype/email_digest/email_digest.py b/erpnext/setup/doctype/email_digest/email_digest.py
index 4fc20e6103..b9e225728e 100644
--- a/erpnext/setup/doctype/email_digest/email_digest.py
+++ b/erpnext/setup/doctype/email_digest/email_digest.py
@@ -382,9 +382,10 @@ class EmailDigest(Document):
 		"""Get income to date"""
 		balance = 0.0
 		count = 0
+		fy_start_date = get_fiscal_year().get("year_start_date")
 
 		for account in self.get_root_type_accounts(root_type):
-			balance += get_balance_on(account, date=self.future_to_date)
+			balance += get_balance_on(account, date=self.future_to_date, start_date=fy_start_date)
 			count += get_count_on(account, fieldname, date=self.future_to_date)
 
 		if fieldname == "income":