Login to your new FMVA dashboard today.

T-Account Template

Download our free t-account template

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 Preview

 

Download the Free Template

Enter your name and email in the form below and download the free template now!

T-Account Template

Download the free Excel template now to advance your finance knowledge!

 

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

For more resources, check out our business templates library to download numerous free Excel modeling, PowerPoint presentation and Word document templates.

  • Excel Modeling Templates
  • PowerPoint Presentation Templates
  • Transaction Document Templates
  • CFI Templates Marketplace

Financial Analyst Certification

Become a certified Financial Modeling and Valuation Analyst (FMVA)® by completing CFI’s online financial modeling classes and training program!