Finance / Free editable template

Accounting cycle diagram template

The accounting cycle is the sequence of steps that turns everyday transactions into financial statements, then resets for the next period. This diagram puts the nine steps in a loop around one accounting period, from identifying transactions and journal entries to adjustments, statements and closing entries, with a table of what each key step produces.

This is a planning example, not financial, accounting, tax or legal advice. Check your own policies, auditors and local rules.

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Accounting cycle diagram example showing nine steps in a loop, output of the key steps, where software does the work
Everything in this example is editable. Replace the labels, move the shapes and adapt the layout to your work.

How to use this template

  1. Follow one transaction

    Pick a sale or a bill and trace it through each step, from the journal entry to the financial statements. It makes the cycle concrete.

  2. Mark what your system does

    Most accounting software posts to the ledger and produces trial balances automatically. Highlight the steps where people still make decisions.

  3. Use it to teach

    Use the board to onboard new team members or students, then link each step to the procedure your team follows.

Questions about this template

Why are some steps marked as done by software?

Those are steps most accounting software completes for you, such as posting to the ledger. Change the marks to reflect what your own system does.

Do I need an account to use it?

No. Open the template and edit it in your browser. Your work saves on this device. An account is optional if you want to sync your workspace.

Can I export the finished diagram?

Yes. Use Export in the editor to save a PNG, SVG or PDF, or download an editable .epicdraw backup.

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