As the first step in the accounting cycle, we will help you gather your business records for the current accounting period. These records include receipts, invoices, and bank statements.
We will use the general ledger to record all of the financial information gathered in step one. The general ledger is like the master key of your bookkeeping setup. The general ledger is composed of journal entries, which list all of your business's financial activity in chronological order.
At the end of the accounting period, we will prepare an adjusted trial balance, and one of its purposes is to prove that all of your ledger's credits and debits balance after all adjustments are carried out. Once we have adjusted the trial balance, we will proceed with the preparation of your company's financial statements.
At the last step of our accounting work, we will provide you with a copy of the financial statements that we have prepared. These statements will provide you with a comprehensive overview of your financial position, and they will be an invaluable tool for you as you make critical business decisions.
