An accounts receivable ledger, also called the AR subsidiary ledger, records every invoice and payment for each customer and keeps a running balance of what they owe. The total of all customer balances should equal the accounts receivable control account in your general ledger.
This free template records each transaction in date order, with invoices as a debit and payments as a credit, and calculates the running balance automatically. A summary section totals each customer's balance with SUMIF. It works in Excel or Google Sheets and reconciles neatly against your general ledger.
A clean subsidiary ledger is the backbone of accurate receivables: it shows exactly what each customer owes and underpins your aging and reconciliation.
How the ledger works
Each row is one transaction. Invoices go in the Debit column (they increase what the customer owes); payments and credit notes go in the Credit column (they reduce it). The running balance is the previous balance plus debits minus credits.
This balance = previous balance + debit (invoice) − credit (payment)
The customer balance summary uses SUMIF to total invoices minus payments per customer, so you always know each customer's outstanding balance.
What is an accounts receivable ledger?
It is the detailed record of every invoice and payment for each customer, with a running balance of what they owe. Also called the AR subsidiary ledger, it sits behind the single accounts receivable figure in your general ledger.What is a subsidiary ledger versus the control account?
The subsidiary ledger holds the detail (every customer and transaction); the general ledger control account holds the single total. The sum of the subsidiary ledger balances should always equal the control account, which is what you confirm during reconciliation.How do I maintain an AR ledger?
Record each invoice as a debit and each payment or credit note as a credit, in date order, and let the running balance update. Review per-customer balances regularly and reconcile the total to your general ledger each month.Is the AR ledger the same as an aging report?
No. The ledger is the full transaction history and running balance per customer; the aging report groups the resulting outstanding balances by how overdue they are. Use the ledger for detail and the aging report for prioritising collections.Does it work in Google Sheets?
Yes. Open the Excel file in Google Sheets or use the CSV; the running-balance and SUMIF formulas work the same.Last updated June 9, 2026. This guide is general information, not accounting, tax, or financial advice.