In kinds of business and projects which are short run planned or for longer, accounts handling is one of the major task. General ledger is most acquainted and generalized form of all the accounts associated to various project segments. Excel ledger templates are therefore designed and created to shorten this extensive accounts management by simple and automated formation of accounts.
General Ledger Templates for Microsoft Excel:
Excel general ledger is based on simple Excel spreadsheet with indicated measures of transactions for each specified purpose of business. From the transactions related to vendors, purchasers and sellers to the accounts of salaries and all over heads are included in this ledger with intact record of total investment and cash flows.
This simple one note document helps accountants and accounts manager to summarize their work by keeping all the extended work in simple compressed form and you don’t need to rover around for any particular entry in case you have any concerns regarding it.
Format of General Ledger
Usually there are not much complications involved in the format of general ledger, it consists of simple two columns with actual entry natures as title i.e Debit side and Credit side. Before all these transactions are plotted, on left most side is calculated domain of entries which are the account titles. So this major ledger sums up all the individual t-accounts of business book keeping and records the total position of investments and financial assets of company. Below here are some of the highlight constituents of this ledger;
- Draw a column with account titles as entries
- Draw a column of reference as per requirement which refers to the end of transaction and method of transactions such as cash, invoice or cheque
- Draw a column with title as Debit and one with Credit
- Enter all the account titles in the first column and relevant entries in their corresponding ranges
- Apply the sum function to both debit and credit sides
- Upon the summation of entries, it will give you the total of debit amount and credit amount, summarizing the accounts payable and receivables
This less complicated form helps you to quickly figure out the outstanding dues which have to be received and which have to be paid. Using this data, an easy structure of total financial assets can be draw for further financial planning.
Excel Ledger Templates
For easy understanding and idea to create your own personalized ledger on excel, there are many multiple free and open source excel general ledger samples available out there which you can download and consult to construct one of your own requirements.