It’s a useful accounting template called general ledger available in Microsoft excel or word both. Accountant keeps this statement in a safe place for further processing. Above the temporal processes of the business or any revenue generating activity that involves the flow of cash across the parties for the deals, there are certain steps always taken to assure the possession of cash and items on both ends.
This thing significantly arises the importance of telling issues with the maintenance of accounts at both end as any time, there can be so many troubles regarding the mismatched figures which may create confusions in the accounts of parties and cash flow. Therefore all the business activities which involve the cash transaction especially sales in the business are recorded on a general ledger which holds the total cash to be received and total cash to be paid. Its used in keep record any rent receipt like property, household etc.
General Ledger Template in Excel
What there is more special about the general ledger apart from its safe cash handling, is the categorical description of the accounts with detailed account presentation and account tag on the above notes, taking a look at which tells the whole story about the cash transactions with any specific party.
Advantages of General Ledger Template
Some business prefer cash transactions through online or computer based ledger systems which refers the cash flows in the virtual memory and they hold a permanent format for the similar transactions therefore stating the cash deals in the categories assigned side by. Even if followed through the computer based systems, cash transactions are usually recorded in the general cash books which tell the details about disintegrated cash amounts pledged by the business in the name of investments, capital and liabilities.
Track Record and Business Transaction
On the other hand, banks also maintain a complete track record of the transactions made through checks and pay orders but they are the only transactions which occur through banking system and they carry no other transactions of the business. Reducing this lag point, majority of business prefer creating a specific design of cash book and name it as a general ledger which highlights the mainstream figures to be deal and keeps the concern with the party names and relevant cash amount with its consent.
Using this requirement criteria, there are hundreds of different formats available for ledger templates which holds the proper ability of categorical adjustments of transactions in the business and eventually procures the whole detailed and elaborated history of the cash transactions between different stake holders in the business.
Inventory or stock take is also an issue for managers, although inventory spreadsheet template been used for this purpose but you can also help with this.
Cash Flow Accounting Management
These Tool are customized and alterable in any form required and users especially accountants can use these templates for the digital record keeping by naming the sub-ledgers with the desired party or account holder’s name and mentions the nature of transactions whether to be credited or debited. Detailing more, it mentions the date of concerned commitments and the currency type as well. Using simple accounting formulas, the sum of accounts can be concluded and deductions about cash flows can be made, deploying further features.
These templates of Excel are easily available and anyone can download them and bring in the usage circle with continently made changes. ProjectmanagementInn is the best source of getting tool of project management just like General Ledger Template in Excel.