T-Account Template

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T-Account Template

This t-account template helps you organize and balance the debits and credits for your transactions and journal entries. Use this template to visualize the accounting perspective of how transactions affect a business’ different accounts.

Here is a preview of what the t-account template looks like:

 

T-Account Template Screenshot

 

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Visualizing Transactions

T-Accounts are a graphical representation of individual accounts on a company’s ledger. They are shaped like a ‘T’ to help visualize how transactions, debits, and credits affect a company’s accounts. By graphically showing the debits and credits, t-accounts help determine what type of account each individual item is and how a transaction changes its balance.

For example, by looking at the t-account template preview above, you can see an asset account and a liability account. You will notice that asset accounts primarily hold a balance on the left of the t-account. Conversely, liability accounts hold a balance on the right. This is because asset accounts hold a debit balance while liability accounts maintain a credit balance. Building on this example, we can look at how a transaction would affect an asset account and liability account. Consider a transaction where the company purchases $1,000 of equipment on credit. This would affect the above t-accounts like so:

 

T-Account Example

 

As you can see, the equipment account is an asset account so the balance is depicted on the left as a debit balance. Conversely, the accounts payable account is a liability account so the balance is shown on the right. Using t-accounts is a great way to understand and keep track of journal entries! Use CFI’s t-account template to make this even easier!

 

More Free Templates

Thank you for reading CFI’s guide to T-Account Template. For more resources, check out our business templates library to download numerous free Excel modeling, PowerPoint presentations, and Word document templates.

Analyst Certification FMVA® Program

Below is a break down of subject weightings in the FMVA® financial analyst program. As you can see there is a heavy focus on financial modeling, finance, Excel, business valuation, budgeting/forecasting, PowerPoint presentations, accounting and business strategy.

 

Financial Analyst certification curriculum

 

A well rounded financial analyst possesses all of the above skills!

 

Additional Questions & Answers

CFI is the global institution behind the financial modeling and valuation analyst FMVA® Designation. CFI is on a mission to enable anyone to be a great financial analyst and have a great career path. In order to help you advance your career, CFI has compiled many resources to assist you along the path.

In order to become a great financial analyst, here are some more questions and answers for you to discover:

 

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