What is full cycle bookkeeping?

The 9 Steps of the Accounting Cycle are:

1. Collect and analyze data from documents, transactions and events.

2. Journalize transactions.

3. Post to general ledger.

4. Prepare an unadjusted trial balance.

5. Prepare adjustments.

6. Prepare an adjusted trial balance.

7. Prepare financial statements.

8. Close the accounts.

9. Prepare a post-closing trial balance.