Cyclopedia of Commerce, Accountancy, Business Administration, v. 05 (of 10)

by American School of Correspondence

EXACT BOOKKEEPING NECESSARY

5. It will be seen from the nature of the business that the bookkeeping department must be very exact, careful in its dealings, and as prompt as a bank in its action. Every precaution must be taken to safeguard the broker and protect the customer. The accounts must show, with each transaction, the brokerage or commission charges and, as in active times the transactions are very numerous, they must be quickly and accurately recorded in the books of the company.