Accounting ledger template

Accounting ledger:

A ledger is a book in which a company or organization writes down the amounts of money it spends and receives. Ledger document is also known as principle or chief book of accounts.  Accounting ledger is document that contains financial information of organization. Daily activities of business called transactions which should be recorded. For recording the transactions two steps are taken:

1.       In first step recording a transactions to journalize
2.       Second step is to post transaction detail in ledger.

Preparation of accounting ledger:

When you are going to make accounting ledger then you should aware of some terms that are used in accounting ledger.

Account: A statement which is created to keep record of transaction is referred as account.

Posting: Writing procedure of a ledger is known as posting. Ledger has journals and sub divided journals.

Journal:  There are three types of accounts that make a journal:

·         Personal account

·         Real account

·         Nominal account

Ledger writing:

Accounts of a business are maintained by ledger. According to the requirement pages are arranged before ledger writing. Ledger is ruled where there is a need of determine the balance after transaction mostly in banks. It is also written in the conditions when balance has to be determined periodically. T-shape accounts are used for the book keeping. It is written in this way:

• ·         On the left hand side record relevant amount of account according to journal is debited
• ·         On the write hand side record amount of account is credited.
• ·         On debit side (left hand) start with word “To” while writing each entry.
• ·         On credit side (write hand) start with “By”.
• ·         Particular columns are used to provide cross reference
• ·         Folio column in ledger writing is used to entered page number of journals.

General Ledger template:

Writing a ledger for accounts is very difficult. For making accounting ledger, ledger template is best suitable choice. Without using ledger template is creating a mistake free ledger is almost impossible. Financial statement should be created by using ledger template. Ledger templates are available on internet. Select one and download it. You can make financial statements, general ledgers and supporting journals by using ledger template. Use ledger template according to your requirement.