Comparison Of The Steps Of An Accounting Cycle Under The Manual System and Under The Computerized System

November 18th, 2007 /

	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