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General ledger template
Download general ledger template for free
A general ledger template makes it easy to record all your company’s financial transactions. Download a free general ledger template from FreshBooks to get started tracking your business finances, revenue, and spending today, or try FreshBooks for free for comprehensive accounting services.
What is a general ledger?
A general ledger is a company’s main accounting record and is used to keep track of all your business accounts together. It typically includes 4 main categories: assets, liabilities, revenues, and expenses.
Your general ledger provides an overview of your company’s financial situation. In addition to details on all incoming and outgoing business transactions, the general ledger includes dates and categories for each transaction to help you generate accurate financial reports and records.
General ledgers are structured based on the double-entry accounting method, where each transaction has a journal entry on the debit and credit sides. This helps your accountant balance the books and provides a clear system for preparing your financial statements.
How do I create a general ledger?
A general ledger template makes it easy to automate your general ledger process. FreshBooks templates also let you customize your general ledger templates so you can include the categories that best fit your small business.
Choose a format
First, choose the P&L statement format that is most useful for you and your business’s needs.
Download the template
Next, download your free profit and loss statement template of choice in seconds from the FreshBooks website.
Enter revenue
You’ll be prompted to enter revenue information in the relevant field—keep your financial records on hand for this part.
Enter expenses
After entering revenue, you’ll input all relevant business operating expenses into the P&L report template.
Calculate net income
Simply subtract your business expenses from your business revenue to calculate your total net income.
Download general ledger template
No more spending hours creating accounting spreadsheets—a customizable general ledger template from FreshBooks makes it easy to create and use your own general ledger. Download the template for free as a spreadsheet or PDF, add relevant details, and fill in all your transactions for an effortless workflow.
General ledger format
A general ledger is crucial for understanding your business's financial health, providing a systematic record of every transaction organized into distinct accounts. Download FreshBooks' free general ledger template to help you effortlessly manage your financial records. Below are the four main sections of this template, along with four simple steps to accurately fill it out and gain valuable insights into your business's financial performance.
Revenue
Revenue (also called sales or income) refers to the money your business receives in exchange for goods or services you provide during a given time period.
Cost of goods sold
This section details your cost of goods sold, also called COGS. It includes expenses incurred for materials, labor, and overhead which directly contribute to the production of the goods your company sells.
Operating expenses
In this field, you enter any costs associated with running your business, such as cost of goods sold (COGS), property rental expenses, and other operating expenses.
Operating profit (loss)
Your profit/loss is your revenues minus your expenses. It will either be a positive number (indicating profitability for that period) or a negative number (indicating non-profitability).
Additional accounting templates
Business owners depend on the outstanding templates from FreshBooks because they’re easy to use and simple to customize to their needs. Download the P&L report template in seconds, free of charge, in either spreadsheet or PDF format, and start using it to grow your business right away.
Expense report template
This is a report containing categorized information on expenses incurred by the business, plus amounts, descriptions, and reimbursement details.
General ledger template vs. FreshBooks accounting software
FreshBooks accounting software offers a wide array of features, including customizable invoicing, online payments, tax calculations, and more. In addition to creating a general ledger, FreshBooks accounting software makes it easy to automatically record and track payments and import them into your ledger to save you time and money.
While a general ledger template is great for starting out, FreshBooks’ full-service accounting software offers everything you need for comprehensive invoicing, generating financial statements, and calculating taxes.
| Features | General ledger template | FreshBooks accounting software |
|---|---|---|
Mobile access |  | |
Pre-designed templates | | |
Downloadable templates | | |
Automated data entry |  Manual Entry | |
Automated calculations | Manual formula creation | |
Reduced error risk | | |
Cloud data storage | Limited | |
Automatic report generation | | |
Scalability | Difficult | |
Automatic recurring reports | | |
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Try It FreeHelpful resources for your business
Ready to take your business to the next level? A quality profit and loss statement template is a great place to start. But there FreshBooks offers a wide array of articles to help you grow your business. Browse our small business resource hub to discover articles on reports, invoicing, and other essential financial statements here. You can also explore general accounting articles to learn more about how FreshBooks accounting software can support your small business.
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Frequently Asked Questions
