make report financial in the correct order or flow, you only need to journalize transactions, post them to the general ledger, create a trial balance, and compile other financial reports.
Very easy right? Yes, for those of you who understand accounting, it will certainly be easy. However, if you still don’t know accounting, maybe this will be a difficulty.
The following is a sequence or flow in how to prepare financial reports:
1. Make a report by collecting and recording financial transactions in a journal
The first step in making a summary of financial statements is to record the transactions made by the company in the current year in the journal. Transactions are common activities that are often carried out by companies, whether buying, selling, exchanging goods, renting or other transactions.
2. Make and post journals to ledgers to make report
After making a journal, the second step is … Read more