First step in accounting is to

identify

Record transaction

Post in ledgers

All

The 8 Steps of the Accounting Cycle

Step 1: Identify Transactions. The first step in the accounting cycle is identifying transactions.

Step 2: Record Transactions in a Journal.

Step 3: Posting.

Step 5: Worksheet.

Step 6: Adjusting Journal Entries.

Step 7: Financial Statements.

Step 8: Closing the Books.