Each Form 26 refers solely to one month’s transactions, there are no “brought forward” items. At the end of the month or whenever the books are closed, all of the columns on this form are footed up and the totals checked across. The total of column A should agree with the strip record which the coupon clerk has been keeping as previously described. The detailed process of checking this account will be described later, but it is evident that if the Steward has made out his daily reports (Form 4) correctly, and correctly copied the coupon records to Form 26, there can be no error in the latter statement. After successfully withstanding the checking process, the total of column A is posted as a lump sum to the debit side of “Bills Receivable, Credit Accounts” in the Ledger, writing the entry thus:—“Aug. 31 Credit Coupons $54.00”. It will be remembered that we must also credit this amount to the Outstanding Coupon account. We now transfer the total of the Store column to the Store Account in our Ledger, entering on the right hand or credit side, “Aug. 31 Coupon sales $8.15”. We proceed in like manner with our other departments. The total of column B must, of course, be charged (debited) against the Outstanding Coupon account in the Ledger.
A summary of all these operations is shown graphically in Fig. 18. The solid lines show how a record is carried through the books until it arrives at the Ledger. The dotted lines show the various checking operations that are possible. Attention is especially invited to checking Forms 25 and 26 against each other.
Figure 18.
In leaving the subject, it is deemed proper to state that the Exchange Officer should keep a single entry record of all unused coupons on hand. When they are first received from the printer, he should carefully check them in person and see that they are safely stored. His record of them should show the numbers and colors of the coupons and exactly how many of the various colors he has on hand at any time.
Coupons should be issued at a fixed time daily, and the Exchange Officer should see to it that the men are never disappointed, but are always able to secure their coupons at the specified time.