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Year End Posting. 13th Month Financial.

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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.

    1. To make prior year adjustments, navigate to Accounting > General Ledger > Manual GL Posting.

    2. Select Journal 99.

    3. Define Transaction Date

    4. Define Reference

    5. Enter adjusting entries

    6. Post

  3. Run the December financial statement. The resulting statement will be the 13th-month financial statement.

  4. Move P/L to Retained Earnings which will close the year.

    1. To close the year - follow steps 2a the 2f.

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

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