The Accounting Cycle Made Simple with Sai CPA Services
Understanding the accounting cycle is key to managing your business finances effectively. At Sai CPA Services , we help simplify this process so you can focus on what you do best growing your business. 1. Identifying Transactions The cycle begins by identifying all financial activities, such as sales, purchases, and expenses. Sai CPA ensures nothing is missed. 2. Recording in the Journal Each transaction is recorded using accurate double-entry bookkeeping. Our team handles this with precision to maintain balance in your books. 3. Posting to the Ledger Journal entries are transferred to the general ledger, organizing your financial data into specific accounts like income, expenses, and assets. 4. Preparing a Trial Balance We then prepare a trial balance to ensure all debits equal credits, highlighting any discrepancies before moving forward. 5. Adjusting Entries Sai CPA professionals review and adjust ...