Skip to content
  • There are no suggestions because the search field is empty.

Year End Posting - 13th Month Financial

Year End Posting How to Run a 13th Month Financial VUE Training

Before preparing a “13th month” financial statement, run the December financial statement and submit it. If you wish to retain a copy, save a copy of the file.

  1. Close the month of December as a normal month close.
  2. Post adjusting entries from your CPA.
  3. To make prior year adjustments, navigate to Accounting > General Ledger > Manual GL Posting.
    1. Select Journal 99.
    2. Define Transaction Date
    3. Define Reference
    4. Enter adjusting entries
    5. Post
    6. Move P/L to Retained Earnings, which will close the year.
  4. To close the year, follow steps 2a through 2f.
  5. Run the December financial statement. The resulting statement will be the 13th-month financial statement.

Note: Moving the balance from Profit & Loss to Retained Earnings officially closes the year and no other postings will be allowed.

Have a suggestion? Let's hear it.