There are five steps in the accounting cycle, which when finished lead to the trial balance, adjusting entries, preparation of the financial reports and the closing entries. These steps are repeated during each accounting period, monthly, quarterly or yearly. I work for Fidelity Investments and the accounting cycle from start to finish is electronic. This helps the accountants, as they will always have a paper trail that is important, especially when it is time to …
showed first 75 words of 800 total

showed last 75 words of 800 total
…cost center is being billed, the management of the department will request an adjustment. The payment analysts will then do an adjustment of the invoice. Each month, the account and control reconciliation department reconcile the thousands of checks that the department processed during the month. This group is also in charge of clearing the check run each day. This process includes checking for duplicate payments and verifying any check to be cut that is over $100,000.