PART V. SUMMARY OF GENERAL LEDGER

Create new sheet named “gls” contain summary of general ledger. This sheet is very important one in the sense that all transactions data entered in general journal are processed here before further used by other sheets. All financial statement sheets get processed data available here.

As the name suggests this sheet basicaly contain information about beginning balance, total debits, total credits and ending balance of each account for the period. The last two columns of the sheet are similar to those in trial balance.

As depicted in figure above sheet gls consist of nine columns as follows:

• Acc Nr, contain account number

• Account Title, contain account title

• NB, contain normal balance

• LBD, contain beginning balance for accounts that have debit normal balance.

• LBC, contain beginning balance for accounts that have credit normal balance.

• TRD, contain total amount debited for the period for each account.

• TRC, contain total amount credited for the period for each account.

• LED, contain ending balance for accounts that have debit normal balance.

• LEC, contain ending balance for accounts that have credit normal balance.

Only two columns, LBD and LBC, out from those nine columns that need to be filled out by typing the cell. The Acc Nr column filled by copying Acc Nr column on sheet ca. The seven other columns are filled with formulas. Remember that we just need to type the formula once on the first row for each column and copy the cell on the following rows.

The formula for the colums Acc Title is:

=vlookup(A6;rca;2;false)

The formula for the colums NB is:

=vlookup(A6;rca;3;false)

The formula for the colums TRD is:

=sumif(gjn;A6;gjd)

The formula for the colums TRC is:

=sumif(gjn;A6;gjc)

The formula for the colums LED is:

=if(C6=”d”;D6+F6-G6;””)

The formula for the colums LED is:

=if(C6=”c”;E6+G6-F6;””)

Each column in this sheet is totaled using “sum” formula to enable us detect earlier and esier if something incorrect happens.