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Week 6 Day 4 Checkpoint - However there are additional...

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In the beginning, the very first step that any accounting person must do is to analyze the transactions. By analyzing each transaction, you then know where to journalize each transaction, and which account needs to be posted to in the ledger. These actions are then repeated throughout the entire month, capturing each and every transaction that effects the business. At the end of the month, a trial balance is ran to get an idea of where the business is financially.
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Unformatted text preview: However, there are additional transactions that need to be journalized and adjusted. There are transactions such as Salary and Supply expenses that are too difficult to figure against sales that accounts find it more prudent to factor these expenses at the end of the month. Once all the adjustments have been journalized, balanced, and printed, the financial statements can be prepared and the final numbers can be posted....
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