Comparison Of The Steps Of An Accounting Cycle Under The Manual System and Under The Computerized System
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|
Steps In Accounting Cycle |
Manual System |
Computerized System |
|
1 |
Analyze source documents |
Manual |
Manual |
|
2 |
Record transactions in journal |
Manual |
Manual data entry includes manual electronic coding |
|
3 |
Post to Ledger accounts |
Manual |
Automatic |
|
4 |
Prepare Unadjusted Trial Balance |
Manual |
Automatic |
|
5 |
Journalize adjusting entries |
Manual |
Manual |
|
6 |
Post adjusting entries |
Manual |
Automatic |
|
7 |
Prepare adjusted Trial Balance |
Manual |
Automatic |
|
8 |
Journalize closing entries |
Manual |
Automatic |
|
9 |
Post closing entries |
Manual |
Automatic |
|
10 |
Prepare post-closing Trial Balance |
Manual |
Automatic |
|
11 |
Prepare financial statements |
Manual |
Automatic |
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