What Is Accounting Cycle?

The accounting documents should be filled up after the occurrence of the economic business, and the accounting process should be worked out at the end of the accounting period.

(1) filling in original vouchers and recording economic activities;

(2) register economic pactions in various journals in accordance with original vouchers, or prepare account vouchers based on original vouchers.

(3) register all kinds of subsidiary ledger according to original vouchers, accounting vouchers or journal entries.

(4) enter or enter the general ledger according to the journal or bookkeeping voucher, the summary voucher and the summary list of subjects.

(5) compiling the amount and balance sheet before the adjustment, or the trial balance, calculates the sum of the sum of the debits and the sum of the credits and the sum of the debit balance and the credit balance.

(6) record the entry adjustment entries in the journal, or prepare account vouchers, and then enter or enter the general ledger and the subsidiary ledger.

(7) record the final account entry into the journal, or prepare the account voucher, and then enter or record the general ledger and the subsidiary ledger.

(8) the entries that determine the profits of the current period are recorded in the journal, or the accounting vouchers are prepared, which are pferred to the general ledger and the relevant subdivision accounts, and are pferred to various income and cost and expense accounts. Then, the profit allocation entry is recorded in the journal, or the account receipts are compiled, and the entries are entered or credited to the general ledger and the subsidiary ledger.

(9) prepare the balance and balance sheet for the current period and the relevant breakdown.

(10) the reports provided by the general ledger and the subsidiary ledger account generally reflect the business results of the enterprise.