The Best Free General Ledger Template
FreshBooks has created a general ledger template to guide you in creating the perfect statement. With this customizable template, the bigger picture is within reach.
Download your free account ledger template to create your own master sheet in no time.
Get Your Free General Ledger Template
Not sure how to create a general ledger? Simple. Get started by downloading the free general ledger template from FreshBooks as your guide.
This customizable template shows you exactly what you need to include on your ledger sheet. Available for download in Google Docs, Google Sheets, .XLS, .DOC and PDF, it makes it easy for you to tweak according to your needs.
If you prefer to work on paper, you’re in luck. FreshBooks has a printable accounting ledger for people who still like to do their accounting the old-fashioned way.
How Are Ledgers Used In Accounting?
Bookkeeping ledgers are compilations of financial accounts for a business. They are a crucial component of any healthy business, as they assist in keeping a company running smoothly and making sure that all of the financial accounting details are correct.
There are several types of ledger book formats, with the main bookkeeping ledger being a general ledger (also referred to as a master sheet). This is used to generate financial statements for a business, such as a balance sheet or an income statement.
What is an Asset Ledger?
Asset ledgers are detailed sections regarding the company’s financial records specifically relating to the asset portion of the balance sheet, without tracking any of the expenses. This can save time when creating a general ledger, as all of the assets have already been accounted for.
Finding The Right Bookkeeping Ledgers Format For Your Business
Figuring out the right bookkeeping ledgers format can be tricky, but it doesn’t have to be.
FreshBooks provides several types of template ledger book formats that can streamline your accounting for you and guide you through the process.
Our well designed ledger account sheets are clearly organized, allowing you to fill in your required financial details easily and accurately.
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Free General Ledger Template
What is a General Ledger?
A general ledger is the master sheet of all of your business accounting. It shows all of the transactions that have been made in your business’s account since the moment it began.
These transactions are organized to help you understand the total of the money you’ve earned and the expenses you’ve paid.
The balance of a general ledger reflects the difference of credits from debits. You subtract the total number of debits from the total number of credits to get this figure. Having this information helps you make more informed business decisions.
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Why Do I Need a General Ledger Template?
A general ledger is an important document in your business files. It records and organizes all payment activity between your business accounts. You need a general ledger to show you the big picture of your business’s finances and growth.
General ledgers are used to help business owners decide which moves to make next in their businesses. When you know how much you’ve made, what your expenses are and how much profit you’ve made, you’re in a better position to invest back into your business.
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How to Fill Out a General Ledger Template
Create your general ledger sheet in seconds with the downloadable template from FreshBooks.
Download your free general ledger template from FreshBooks.
Pull all business records that contain the information you need to create your general ledger.
Organize the data that you need to log in your general ledger sheet.
Log all of your data in the appropriate fields listed on your general ledger template.
Review for Errors
Make sure you haven’t made any typos or calculation errors. This could throw off your report.
Analyze Your Findings
Use your findings on your general ledger to help you make better business decisions.
More Free Accounting Resources
General ledgers may be the master of all accounting reports, but there are several reports that will help you generate your general ledger.
FreshBooks has created a collection of free accounting report templates to help you take control of your accounting.
Frequently Asked Questions
What information is included on a general ledger?
A general ledger is basically your accounting master sheet, so it includes everything about your business finances. The business ledger template from FreshBooks includes all of the necessary sections to help you avoid confusion when you create your ledger sheet.
What is the value of a general ledger?
The general ledger is packed with just about every piece of information you need to get a general overview of your business’s finances. It points you in the right direction when it comes to analyzing growth and making decisions for the future of your business.
How do I balance my general ledger?
To balance your general ledger, you subtract debits from credits. You can do this on your own, with the help of an accountant or by opting for FreshBooks accounting software.
Is there a way to automatically generate a general ledger?
Yes. FreshBooks cloud accounting services automatically generate general ledgers and other accounting reports. Plus, you’ll have access to a range of accounting factors, such as online invoicing and the mobile app.
How much of an investment are the accounting resources from FreshBooks?
The basic accounting templates from FreshBooks are free to download, but the paid accounting service is still quite affordable. There are plans for every budget, starting as low as $15 a month.
For these affordable prices, you get unlimited access to formatted balance sheet ledgers, which help streamline the process for your bookkeeping entries.
FreshBooks can guide you through your accounting, saving you time and stress.
What Is A Cash Account?
If you’re unsure what kind of accounts are used in bookkeeping, we’re here to help. There are specific monetary requirements that define certain kinds of accounts, such as margin or cash accounts.
A cash account is when business transactions have operated on an immediate basis of payment. This means that the cash flow for these transactions must be available, and that future credit has not been offered.
What Is A Double-Entry Accounting System?
In accounting, double-entry bookkeeping refers to a system of accounting where every transaction requires a corresponding entry. These are put in their respective columns for positive and negative transactions, known as debits and credits.
Recording accounting transactions in separate columns in this format shows the overall financial balance of the company, giving business owners a grasp on their project management needs.
What Is A Single-Entry Accounting System?
If you’d prefer, you can use a single-entry bookkeeping system. This requires business transactions to be recorded in just one column, whether they are positive or negative entries.
This transaction information can be tricked in a table or by using specialty accounting document software.
Why Create General Ledgers with FreshBooks?
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