If your source system does not contain a Date entity or dimension, a better way is to create a such an entity with Power Query (aka “M”). By creating your own, you can add more attributes than just year, quarter and month…and optimize the size and performance of your model at the same time.
Not a Power Query expert? You don’t have to be. Others in the community have already shared their versions, and I will share my own modified version that you can copy and use for yourself. I’ve used the examples of Matt Masson and Chris Webb as the basis of my own Date entity. You can find their versions here and here.
Read on for Martin’s version.