Set up the accounting as of the first day of the 2025 fiscal year

Your accounting must be perfectly configured before recording any entries. To achieve this, follow the steps below.

You must have previously imported the new 2025 chart of accounts into your accounting system.

Linking New Accounts

If you previously used the 400 and 410 account roots for supplier and customer accounts, update the default linked accounts for third parties. To do this, replace the default third-party accounts for customers and suppliers:

For New Third Parties Added in 2025

Update the accounting configuration:

• For customer accounts, select a default account with the root 411.
• For supplier accounts, select a default account with the root 401.

This will automatically apply to any new third parties added.

For Existing Third Parties

Update the Identification section of each third-party record:

• In a customer record, select a default account with the root 411.
• In a supplier record, select a default account with the root 401.

Modifying the Postal Check Account

Follow these steps to configure the new postal account:

Creating a Postal Check Account with Root 512

If you were using an account with root 514 linked to your postal check account, create a new replacement bank account with root 512. Assign this new account to your postal check account.

Balance Transfer

Transfer the balance from the postal check account with root 514 to the new account with root 512 to preserve the balance.
To complete the transfer, record an entry and then reverse the balance from the 514 account to the 512 account.

Account Linking

Update the bank account linkage to point to the new account with root 512.

For uncleared entries from the previous year (2024) on account 514: When these transactions appear on your bank statement, change the account linked to the bank to display these entries. Perform the matching. Once the reconciliation is complete, switch the account back to 512 to reflect entries for the new fiscal year.

From this point forward, you can record new banking transactions in this new account.

Generating the Balance Sheet and Income Statement

This step will help you understand how to generate the Balance Sheet and Income Statement reports with the new layout.