The eight-step accounting cycle is important to know for all types of bookkeepers. It breaks down the entire process of a bookkeeper’s responsibilities into eight basic steps. Many of these steps are often automated through accounting software and technology programs. However, knowing and using the steps manually can be essential for small business accountants working on the books with minimal technical support.
KEY TAKEAWAYS
- The accounting cycle is a process designed to make the financial accounting of business activities easier for business owners.
- There are usually eight steps to follow in an accounting cycle.
- The closing of the accounting cycle provides business owners with comprehensive financial performance reporting that is used to analyze the business.
- The eight steps of the accounting cycle are as follows: identifying transactions, recording transactions in a journal, posting, the unadjusted trial balance, the worksheet, adjusting journal entries, financial statements, and closing the books.
This repo is made for the project of my Financial Accouting course.
Its developed using:
- Bootstrap (Admin LTE)
- ExpressJs
- MySQL Server
The project is not completed (all 8 steps are not implemented) but main implementation of accounts creation, t accounts (ledger summary), general journal and trial balance has been implemented and a database is also there which you import on your server and run the server.js file (app will start running on localhost) ...
Soon this project will be completed and will be published with login and other important software needs so a business can use for their accouting needs...