Don't Forget! - Your 2025 Payroll must be archived prior to running your first 2026 payroll.
| Payroll |
| ✅Payroll End Of Year Reports. |
| ✅Closing the Year for Payroll. |
| ✅Create W-2s. |
| ✅ACA Forms and Submission. |
| ✅Update FUTA & SUI. |
| ✅Add new Accounts to the Daily Report. |
Preparation of 13th Month Financial Statements
- Ensure the December financial statement is submitted and accepted before proceeding.
- Close the month of December as a normal month.
It's advisable to print or download a copy of your December financial statement before you run the 13th month.
Note: Once you generate the 13th month, you will no longer be able to regenerate the December 12th month again.
Year-End Adjusting Entries and 13th-Month Financial Statements
Navigate to: Accounting > General Ledger > Manual GL Posting.
- Select Journal 99
- Input the Transaction Date (example: closing 2025 - input 12/31/2025)
- Input Reference (example: YEAREND2025)
- Enter your adjusting entries and Post.
Closing Entries for the Current Accounting Year
Navigate to: Accounting > General Ledger > Manual GL Posting
- Create a posting moving Profit & Loss to Retained Earnings.
No other postings will be allowed after this. - Select Journal 99
- Input the Transaction Date
- Input Reference
- Enter your adjusting entries and Post.
Calculating 13th-Month Financial Statement
Navigate to: Accounting > Monthly > Financial Statement
- Recalculate the December financial statement of the previous year.
- This statement will be your 13th-month financial statement.
Click here to watch the VUE training course on End Of Year Accounting.
Click here to watch the VUE training course on End Of Year Payroll tasks
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