అకౌంటెంట్

Identify and Analyze Transactions:

Determine which business activities are financial (e.g., sales, purchases, expenses) and gather source documents like invoices or receipts.

Journalize Transactions:

Record these transactions chronologically in the general journal, noting debits and credits for each entry.

Post to the General Ledger:

Transfer (post) the journal entries to individual ledger accounts (like Cash, Accounts Payable) to summarize activity for each account.

Prepare an Unadjusted Trial Balance:

List all ledger account balances to check if total debits equal total credits before adjustments.

Make Adjusting Entries:

Record necessary end-of-period adjustments for accruals, deferrals, and depreciation that weren't in the initial entries.

Prepare Financial Statements:

Use the adjusted figures to create key reports: Income Statement, Balance Sheet, and Statement of Cash Flows.

Close the Books:

Zero out temporary accounts (revenues, expenses, dividends) by transferring their balances to Retained Earnings to start the next period fresh.