Chart of accounts and general ledger (up to 3,000 journal lines)

What the chart of accounts and general ledger (up to 3,000 journal lines) does

The standard ledger workbook holds 500 journal lines, which suits a small business for a year. This larger version has room for 300 accounts and 3,000 journal lines, so a busier business, a branch or a whole year of a growing company can stay in one file. Every line is posted to its account and the balances and the chart by account type update by themselves.

Who it is for

Accountants and finance managers of businesses with hundreds of transactions a month, and bookkeepers who keep several clients' ledgers in one workbook each.

How to use the workbook

1. Edit the Accounts sheet: give each account a code, a name and a type.
2. On the Journal sheet, post each transaction as at least two lines with the account code.
3. Check the Journal shows Balanced.
4. Read each account's balance on the Accounts sheet and use it for your trial balance.
5. Save a copy under a new name for each month or year, so earlier records stay as they were.

What is inside

• Chart of accounts with codes and types
• Journal with debit and credit lines
• Totals and net balance of every account
• A balanced or out-of-balance check
• Summary of balances by account type

The workbook has these sheets: Instructions, Accounts, Journal, Summary. The main table has the columns Code; Account name; Type; Total debits; Total credits; Balance (debit less credit). Yellow cells are for you to fill in and grey cells calculate by themselves, so leave the grey cells alone. The example rows show how it works; type over them with your own entries.

Tips for getting it right

• Keep account codes consistent and never reuse a code for another purpose.
• Post a journal for every transaction, with a clear description.
• Review the out-of-balance message after each entry.
• Close each period by saving a dated copy.

Why keep this record

Accounting records let you answer three questions at any time: what came in, what went out and who owes whom. Kept consistently they also make tax returns, loan applications and the sale of a business much easier, because the evidence is already organised. Entering transactions the day they happen is far cheaper than reconstructing them at year end.

Questions people ask

Do I need to know Excel formulas? No. Type into the yellow cells and the rest is worked out for you. The formulas are visible if you want to see how a figure is reached.

Can I add rows or change the layout? You can add your own columns to the right and your own notes. If you insert rows inside a table, copy the grey formula cells down so the new rows calculate too.

Will it work on my phone or in Google Sheets? Yes for viewing and typing, but dropdown lists and the charts look best in desktop Excel or LibreOffice.

Keeping it safe and up to date

Good accounting records are a legal duty as well as a management tool: keep the supporting receipts and invoices with the workbook, and keep each year's copy for at least five years. Work on a copy, never on your only file, and back it up.

Read how to keep business records for KRA for the wider picture. See more accounting templates or ask us for a custom one.

The workbook works in Microsoft Excel, LibreOffice and Google Sheets. It is a tool to help you work out and record figures, not tax, legal or accounting advice, and it is not affiliated with the Kenya Revenue Authority. If something does not work as described, contact us and we will put it right.

Related guides, calculators and templates

• Guide: How to keep business records for KRA: what to save and for how long
• Guide: Bank reconciliation step by step: match your books to your bank
• Guide: Fixed assets and capital allowances explained for small businesses
• Another template: Accounts payable ageing schedule
• Another template: Accounts receivable ledger (up to 1,000 invoices)
• Another template: Balance sheet template

Need something different? Request a custom template, browse all guides or see every Excel template.