Double-entry accounting and steps for accounting

Steps for accounting

1. Journal entries – record every transactions
2. General ledger – sort the journal entries by account
3. Initial trial balance – show the balances in each account at the end of each accounting period. For adjusting entries, record and reflected in adjusted trial balance
4. Present the balance accounts from adjusted trial balance to financial statements
   

Double-entry accounting
Double-entry accounting is required to keep the equations balance