tehingutsükkel

Tehingutsükkel, also known as transaction cycle, refers to the series of steps involved in processing a business transaction from its initiation to its completion. This concept is fundamental in accounting and information systems, ensuring that all financial activities are recorded accurately and systematically. The typical transaction cycle begins with the identification of a transaction, such as a sale or a purchase. This initial step often involves creating a source document like an invoice or a receipt.

Following the initiation, the transaction data is captured and entered into the accounting system. This data entry phase is crucial for organizing the information and preparing it for further processing. Once entered, transactions are classified and summarized. In accounting, this means assigning transactions to the correct accounts in the general ledger. This classification helps in understanding the financial impact of various activities.

The next stage involves posting the summarized transactions to the respective accounts. This process updates the balances of assets, liabilities, equity, revenues, and expenses. Auditing and verification are often integrated throughout the cycle to ensure accuracy and prevent errors or fraud. Finally, the transaction cycle culminates in the generation of financial reports, such as the income statement and balance sheet, which provide a comprehensive overview of the company's financial performance and position. Effective management of the transaction cycle is vital for reliable financial reporting and sound business decision-making.