Follow these steps to set up a general ledger accounting system in Excel. A small business can use Excel as a substitute for expensive accounting software.

Fortunately, you can convert Excel files to plain text files, which can then be imported into almost any spreadsheet program, such as Intuit's QuickBooks accounting software.

Excel has all of the tools needed to create and maintain a general ledger, but it requires a solid understanding of basic accounting and attention to detail.For business owners who do not have the ...