Post Exchange Methods / A Manual for Exchange Stewards, Exchange Officers, Members of Exchange Councils, Commanding Officers, Being an Exposition of a Simple and Efficient System of Accounting Which Is Applicable to Large and to Small Exchanges Alike.

by Paul D. Bunker

PURCHASE RECORDS.

In most Exchanges, the custom obtains of keeping in the ledger a separate account for each creditor, i. e., each person or firm from whom goods are purchased. This entails an enormous amount of work, and as this work can be done by none but an efficient employee, it also entails a considerable unnecessary expense. In the system to be described, this work is reduced to a minimum, and while each of our creditors has his ledger account, this account is kept in such form as to require no duplication of our records, and, at the same time, to tell us at any time exactly how we stand with each of our creditors.