We will learn to make a Free Google Sheets Ledger Template using the instructions in this guide. One kind of document that maintains track of entries with comprehensive details about an account’s transaction is a ledger. Everyone we see in the corporate world needs to keep their financial documents organized, regardless of their occupation. All you need a ledger for is to record all of your transactions and keep an eye on your assets, balance, and spending. Previously, the ledger was manually entered into registers and books as part of the traditional system. However, with the advent of sophisticated software, we can now construct our own ledger templates and keep records on our devices.
Similar to this, because of its automated features, Google Sheets is likewise the best option for creating an advanced ledger template. Here is a comprehensive instruction on creating a free Google Sheets ledger template, which will teach you how to make a ledger template in Google Sheets from scratch, if you would like to create one for yourself. So, without any more delay, let’s get started.
Why do we need to use a Ledger in Google Sheets?
Everyone needs to organize and maintain financial records, as I’ve already covered. Even small business owners need to create a ledger for themselves in order to keep track of their finances. Making a ledger template in Google Sheets is not only safe but also cost-free because, prior to the invention of computers, this process was done manually on registers and books, where there was a significant risk of data loss. Why don’t we become familiar with the Free Google Sheets ledger template?
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How to make a ledger template in Google Sheets – Step-by-Step Procedure
The process of creating a ledger template in Google Sheets varies depending on the components you choose to include. In this lesson, we’ll cover all the essential components of our ledger template and discover how to automate it with a few simple formulas. Without spending any more time, let’s get started.
Step 1>
I’m going to create the Ledger title before creating a Ledger in Google Sheets. The Drawing tool in Google Sheets can be accessed through the Insert tab located on the menu bar.
Step 2>
When you click on the “Drawing” option, a little new window will open in front of you where you can do your drawing. Here we will click on the “Action” button where we will discover “Word art” in Google Sheets.
Step 3>
We will construct a title for our ledger template using this “Word art” option, as seen in the below image. Additionally, you can format your word art in Google Sheets to suit your preferences.
Step 4>
I will make a section for personal information on the left side of the sheet after titling the ledger template. Here, I will insert the headings listed below.
Step 5>
I’m going to format our cells in this way using the ability to merge cell and cell boundaries so that I can write your personal information in them.
Step 6>
We will add a small column for “Account type” and “Starting balance” to our ledger template after creating a section for personal information, as seen in the bel;ow image.
Step 7>
In order to include more information in our ledger template, I have included a blue cell border to the remaining cells in this phase, as shown in the photo below.
Step 8>
As shown in the below image, I will enter the following headers for a general ledger template in these cells: Date, Reference code, Description, Credit Amount, Debit Amount, and Total Balance.
Step 9>
To highlight the text that will be entered into the ledger, I have filled up the cells with a light color in this stage. This is a voluntary step that you can skip if you’d prefer not to.
Now that the ledger’s structure is complete, let’s begin entering data and applying formulas.
Step 10>
You can provide the following information in the personal information section, as indicated in the figure below.
Step 11>
Here, I’ll use a drop-listed menu to indicate the account type. To access it, select the “Insert” tab from the menu bar. From there, select the “Dropdown” option.
Step 12>
I’m going to add two separate criteria—”Credit Account” and “Debit Account“—to this drop-down box, as seen below. Additional fields can be added as needed.
Step 13>
A drop-down menu has been created, as you can see in the GIF below, from which you can select the type of account. In the GIF below, I have chosen “Debit Account.”
Step 14>
As we have added 50,000 in the following example, we will write the initial amount that will be credited to the account for the first time in the second cell.
Step 15>
The cell’s content uses a straightforward format for numbers. You can go to the “Format” tab, click on “Number,” and then choose “Currency rounded” from the drop-down box to convert the format to currency.
Step 16>
First, let’s fill the table with the following data. The date, which will be written in plain text in this first column, will change with each transaction.
Step 17>
The transaction’s reference code and the explanation of the transaction’s purpose and source will be listed in the second column, respectively.
Step 18>
As can be seen below, I have entered $20,000 in the credit column since in this phase I will be crediting that amount to the starting bank balance of $20,000.
Step 19>
As you can see in the following image, we will use the formula (starting amount + credit amount – debit amount) to determine the total balance.
Step 20>
As you can see in the following image, we were able to obtain our entire balance following the crediting of the money. We can find the remaining transaction calculation in the same way.
Step 21>
I’m going to add another transaction, which is shown in the picture that’s attached, to our ledger now.
Step 22>
Since expenses indicate that money has been spent, we will enter this amount in the debit amount column, as shown in the screenshot below.
Step 23>
I’ll add the highlighted formula below to this total balance cell to automate our ledger template, which will be used across the column. This conditional formula will allow us to use the IF and AND functions to perform computations automatically.
FORMULA: =IF(AND(D11=” “,E11=” “),” “,F10+D11-E11)
Step 24>
This is the result; as you can see below, after a $12,000 deduction, the remaining balance is now $58,000 instead of $70,000.
Step 25>
After using the formula, you can automatically create our ledger template by dragging it across the full column by simply moving the mouse over the cells.
Step 26>
Allow me to show an automated ledger template for you using animation. As you can see in the animation below, calculations are done automatically when we debit or credit an amount.
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Do you want to have this Template?
Click this to get a Free “View only” Template. Navigate to File > Make a Copy and use it for your requirements.
Free Google Sheets Ledger Template – Office Chaser
Conclusion
You can now create a ledger for your own company and manage financial records by following the steps I’ve outlined in this guide on how to make a ledger template in Google Sheets from scratch.