Bookkeeping

The Accounting Cycle

Accounting Cycle
Accounting Processes

Journal Entries

Journal Entries

T-Ledgers

Ledgers

Trial Balance

Trial Balance

Closing Entries

Closing Entries

Bank Reconciliation

Comparison on balance in bank statement with cash ledger account. 

Adjust bank statement balance for deposits in transit, outstanding cheques and bank errors.
Adjust cash account for bank fees and charges and interest. 

Month end processes

  1. Correction of errors – in ledger and journal entries
  2. Adjustments – e.g. prepayments, accruals, depreciation
  3. Reconciliation – of balance sheet accounts to bank
  4. Close accounts – through trial balance
  5. Reporting to management
Bank Reconciliation

Accounting Software

Accounts Receivable and Accounts Payable

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