A general ledger template is an account or record used to sort and store balance sheet and income statement transactions. Generally, it is the main accounting record of a company or organization. Moreover, this ledger includes information about different financial terms, like current assets, fixed assets, liabilities, revenues, expenses, profits as well as losses. A general ledger is prepared in the proper format that should have a business name stated on the top side of this ledger. Moreover, it should also include the period for which this ledger is prepared underneath business name. Every payment or receipt will be first entered in the general ledger, then used to make other financial statements. In terms of business, a general ledger may be defined as a collection of all the financial accounts of a company which are special in type and effective for the accounting procedures of an entity. Importance of General Ledger: A general ledger template is basically, a financial report that is generated by the company to provide in-depth details about the values of different accounts with the description of whole transactions. However, this report will be used to make up the balance sheet of particular accounts. The general ledger