A New and Improved Universal System of Book-Keeping (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1869 Excerpt: ...Cash Account, the Discount will require to be carried to an account of its own, in order to maintain the constant equality of the Drs. and Crs. This is readily done, by adding up the allowance column of the Cash Book at the end of each week, and carrying the totals into the Ledger, in one sum. Note.--The Discounts on the Dr. side of the Cash Book, are to be posted to the Debit of the "Discounts Account" in the Ledger, the same amounts having already been posted to the Credit of the persons; and, vice versa, the Discounts on the Cr. side of the Cash Book, to the Credit of the "Discounts Account" in the Ledger. The Cashier, if a salaried servant, will find it absolutely necessary, and if a principal, highly desirable, to balance the Cash Book every day, and ascertain that the balance he has in his hands, is equal to the balance of the book; that is, to the difference between the two sides of the book. With a Cash Book kept in the present form, this may most conveniently be done, by leaving two or three blank lines between the entries of each day, on which the totals of both sides, and balance remaining when the payments are deducted from the receipts, may be written down, short of the money columns, as a Memorandum. The Cash Book should always be balanced, ruled off, and the balance entered and carried forward, at short and regular intervals. Once a week, as in the present Set, is most usually convenient, but in small concerns, where the entries are few, or few in addition to the Cash Sales, once a month will suffice. 6. LEDGER, page 94. 1. As to Accounts With Debtors, constituting Part I. of the Ledger. Write the name of the Person, in round text, at the head of each account; add his address, and a memorandum of any particulars requiring ...