Accounting Ledger Template

Daily activities of business are called transactions and these transactions need proper recording. The first step of recording transactions is to journalize and second step is to post transactions in ledger. Ledger document is also known as ‘principle or chief book of accounts’. In accounting ledger financial information is classified through its nature and relevance. Here we will discuss accounting ledger and its preparation. The statement which records transactions at one place relating to particular subject is known as account. The book which encloses all accounts is known as ledger and its writing procedure is known as posting. The ledger is most important book of account and is destination of all entries made in a journal or sub divided journals. Journal is the collection of three types of accounts like:

  • Personal Account
  • Real Account
  • Nominal Account

Free Accounting Ledger Template

We have found a free Accounting Ledger Template created using Microsoft Excel specially for you. Check it out below,

Accounting Ledger Template

{Please find download link at the bottom}

Ledger Writing

Business can maintain its accounts in ledger. Each account is prearranged one or more pages according to requirements. Ledger is typically ruled in anyone of following two alternatives. First alternative is followed in those circumstances where balance is required to be determined after every transaction like banks. Second alternative is followed in those circumstances where balance is required to be determined periodically like after a month or quarterly. For book keeping T-shape accounts will be used. Record relevant amount on left hand side of account according to journal is to be debited and record amount on right hand side of account as per journal is to be credited.

In Ledger account each entry on debit side (left hand) starts with word “To” and one credit side (right hand) with word “By”. Particular column is used to provide cross reference while in folio column page number of journal would be entered. This procedure of recording entries in ledger is beneficial for recording amounts of benefits in shape of cash or goods. Business will also record giving away benefits in ledger as credits. The general ledger is a permanent summary of all supporting journals like sales and cash receipt journal, cash disbursement journal. Financial statements are also built from general ledger templates.

Click here to download above mentioned Accounting Ledger Template

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