Steps of Accounting Cycle


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The accounting cycle is a complex process that consists of a set of steps occurred in the accounting period. It is called a cycle because the accounting workflow is circular: after execution one accounting period consisting of a sequence of steps of accounting cycle, starts the next accounting period.

The steps of accounting cycle include the processes of identifying, collecting, analyzing documents, recording transactions, classifying, summarizing, posting, and preparing trial balance, making journal entries, closing the books and final reporting financial information of an organization.

Steps of Accounting Cycle

Sample 1. Steps of Accounting Cycle

The execution of the eight basic steps of accounting cycle leads to success work of your organization.

ConceptDraw PRO diagramming and vector drawing software extended with Accounting Flowcharts Solution provides the Accounting Flowcharts library with predesigned vector shapes, variety of templates and samples to help you easily show the steps of accounting cycle and quickly design the accounting flowcharts.

Sample 2. Accounting Flowcharts – Purchasing Flowchart

This sample was created in ConceptDraw PRO using the Accounting Flowcharts library from the Accounting Flowcharts Solution and shows the purchasing process flow. An experienced user spent 10 minutes creating this sample.

Use the ConceptDraw PRO with Accounting Flowcharts Solution to create your own professional Accounting Flowcharts of any complexity quick and easy.

The Accounting Flowcharts produced with ConceptDraw PRO are vector graphic documents and are available for reviewing, modifying, and converting to a variety of formats (image, HTML, PDF file, MS PowerPoint Presentation, Adobe Flash or MS Visio XML).












Use Product:

  • Accounting Flowchart Software
  • Flowchart Diagram Software
  • Process Diagram Software
  • Business Diagramming Tool
  • Professional Business Graphics Tool
  • Technical Diagramming Tool
  • For Mac® & Windows®
  • Power Point®
  • Vector Format
  • ConceptDraw PRO native Mac app
  • Easier to use than Microsoft Visio® and more powerful
  • With free support and thousands of templates

Use Solution:

  • Accounting flowcharts templates and examples
  • Vector graphics elements
  • Analyzing complex processes
  • Designing complex processes
  • Documenting complex processes
  • Managing complex processes
  • Representing process operations
  • Showing the steps
  • Export to graphics files and PDF
  • Export to PPT
  • Web documents
  • Make Presentation


See Also Samples:



See also:


TEN RELATED HOW TO's:


What is the Accounting Cycle?
What is the accounting cycle? The accounting cycle is a sequence of steps that occur in the accounting period and include the processes of identifying, collecting, analyzing documents, recording transactions, classifying, summarizing, and reporting financial information of an organization.  Read more... →
What is the Accounting Cycle
Picture: What is the Accounting Cycle?
Related Solution: Accounting Flowcharts

Purchase Process Flow Chart,Receiving Process Flow Chart,Accounting Flowchart Example.
The purchasing process follows very specific guidelines and includes a purchasing cycle flowchart and receiving process flow chart. Common key elements of purchasing process. It is important to know how purchasing processes work and how each operation is done.  Read more... →
Flowchart - purchasing process (receiving process flow chart)
Picture: Purchase Process Flow Chart,Receiving Process Flow Chart,Accounting Flowchart Example.
Related Solution: Accounting Flowcharts

Process Flowchart
ConceptDraw is Professional software for making process flow diagram, workflow diagram, general flowcharts and technical illustrations for business documents. ConceptDraw software includes rich examples, templates, process flowchart symbols. Flowchart Maker ConceptDraw PRO allows you to easier create a process flowchart. Use a variety of drawing tools, smart connectors, flowchart symbols and shape libraries to create flowcharts of complex processes, process flow diagrams, procedures and information exchange.  Read more... →
business process flowcharts, flowchart symbols, process flow diagram, workflow diagram, flowcvhart maker
Picture: Process Flowchart
Related Solution: Flowcharts

Workflow to Make a Purchase.Accounting Flowchart Example
Purchasing Workflow Chart as a methods for documenting accounting information systems. Symbols and Methods for designing Accounting System.  Read more... →
Flowchart - purchasing
Picture: Workflow to Make a Purchase.Accounting Flowchart Example
Related Solution: Accounting Flowcharts

Accounting Data Flow from the Accounting Flowcharts Solution
Accounting Data Flow from the Accounting Flowcharts Solution visually describes the financial accounting process, shows the accumulated information about transactions and events for creating the balance sheet and the final income statement. Accounting Flowcharts Solution contains also a wide variety of templates and samples that you can use as the base for your own Accounting Flowcharts of any complexity.  Read more... →
Accounting Data Flow
Picture: Accounting Data Flow from the Accounting Flowcharts Solution
Related Solution: Accounting Flowcharts

Accounting Flowchart Purchasing Receiving Payable and Payment
Accounting flowchart is a pictorial way to represent the flow of data in an organization and the flow of transactions process in a specific area of its accounting or financial department. Accounting Flowcharts solution contains the full set of standardized accounting flowchart symbols which will help you design in minutes various types of Accounting Flowcharts including such popular diagrams which represent the whole accounting process: Purchasing Flowchart, Receiving Flowchart, Voucher Payable Flowchart, Treasurer Flowchart, Payment Flowchart.  Read more... →
Standardized Accounting Flowchart Symbols
Picture: Accounting Flowchart Purchasing Receiving Payable and Payment
Related Solution: Accounting Flowcharts

Example Process Flow
A flowchart is a picture of the separate steps of a process in sequential order. ConceptDraw PRO is a Process Flowcharts software. This software includes basic package of process flow examples. The software contains object libraries with vector stencils that allows you use RapidDraw technology. By clicking on direction arrows you can add a new object to the flowchart.  Read more... →
Flowchart - Website launch
Picture: Example Process Flow
Related Solution: Flowcharts

How to Create Flowcharts for an Accounting Information System
Accounting information is a system of processes to represent financial and accounting data that is used by decision makers. To represent accounting processes there are special symbols which are used to create accounting flowcharts. Flowcharts help users of Accounting Information System to understand the step sequences of accounting processes. Use ConceptDraw PRO with Accounting Flowcharts solution to document and communicate visually how accounting processes work, and how each operation is done.  Read more... →
Accounting Information System, this is flowchart maker
Picture: How to Create Flowcharts for an Accounting Information System
Related Solution: Accounting Flowcharts

Cross-Functional Flowchart
Cross-Functional Flowchart - to draw cross functional process maps is by starting with a cross-functional flowchart samples and templates. Easy to draw sample cross functional Process Flow Diagrams. Using a Cross-Functional flowchart is a clear way of showing each team member’s responsibilities and how processes get shared or transferred between different teams and departments. Use cross-functional flowcharts to show the relationship between a business process and the functional units (such as departments) responsible for that process. To create it use the best flowchart maker of ConceptDraw PRO.  Read more... →
Cross-Functional Flowchart. flowchart maker
Picture: Cross-Functional Flowchart
Related Solution: Cross-Functional Flowcharts

What can go wrong if the purchasing process is not followed?
Make sure that your purchasing process complies with the standards and regulations. Common key elements of purchasing process.  Read more... →
Purchasing process flow chart
Picture: What can go wrong if the purchasing process is not followed?
Related Solution: Accounting Flowcharts

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Microsoft® Windows® 7/8.1/10

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