The Nine Steps of the Accounting Cycle

The Nine Steps of the Accounting Cycle - will simplify the...

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Step one is the normal step to anything that requires entering data. To analyze the data to any account, you must review their transactions to know where to enter the data. After analyzing the data, the accounts must be journalizing to have a general outlook for the transactions that have taken place. The next step would be to post the accounts which have all the transactions into the general ledger. Afterwards the accounts that are posted in the general ledger
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Unformatted text preview: will simplify the journal so the next step is to create a post trial balance. After entering the accounts into the trial balance, the next step would be to prepare for an adjusted trial balance. This is for payments that occur after the ended period. After analyzing the statements, the accounts must be reversed to become closed which is the next step. Then a final trial balance would conclude the nine steps....
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