What time zone are reports based on?

Question

If I select a 'subjective' time range like "yesterday" or "previous month" in a report, will it use the time zone I chose in my company settings?

Answer

Reports are displaying data as of the current date and time in UTC, independently of the time zone you selected in your Company Details.
For example, if your Forecast instance is set up with Sidney time zone (UTC +11), when you pull up a report on the 1st day of the month at 9:00 am Sydney time (22:00 pm UTC) and select the "previous month" period, the report will pull up data from the month before the previous month, as it would still be the last day of the previous month in UTC.