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Analyze all transactions from the previous year
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Record all transactions or transfers of assets
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Post journal entries to the ledger
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Make adjustments as needed to accounts
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With adjusted accounts, "re-do" the trial balace
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Close all non-permantent accounts so they reset to zero for the upcoming year
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With temporary accounts now closed, prepare new trial balance
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A list shows items. A timeline shows sequence.
Use Timetoast to make dates, milestones, and turning points easier to understand in a clear visual format. Timetoast is a timeline maker for work, school, research, and stories.