Some companies prefer to have the balance column placed between the debit and credit columns. Whichever plan is adopted, there is a distinct advantage in having the rulings of the pass-books and of the ledgers exactly the same. It is sometimes considered a convenience to provide a separate column for interest entries, as in the form shown in Figure 246. A few companies figure interest on each transaction rather than on the balances, crediting interest to the end of the interest period for each deposit, and charging interest similarly for each withdrawal. In such cases the ledgers are ruled to provide for these interest computa tions, the headings of the columns being Date, Interest Balance, Interest Dr., Withdrawals, Interest Cr., Deposits, Balance. The interest balance is kept separate until the end of the period, when it is added to the balance of the account. Some companies have adopted the practice of taking the depositor's signature on the ledger leaf, which also contains other descriptive matter usually found on the signature card. Figure 247 shows a ledger leaf prepared for this purpose. Card ledgers for savings accounts are extensively used, especially among the larger companies, the form of the card ruling having the same variety as in the case of loose-leaf ledgers. The most common form is shown in Figure 248. The tab at the top of the card shows the last figure of the account number, the position of the tab varying with the figure, that for 1 being at the extreme left, as shown in the figure, and I hereby agree to the Bylaws, Rules and Regulations of this bank James J. Smith Birthplace Tray NY 180 25. Mother's maiden name. Sarah Brown Balance Date Withdrawn Deposited Balance Date 36984 36984 2S 49 148 14 FIG. 247. SAVINGS LEDGER, WITH DEPOSITOR'S SIGNATURE. those for 2, 3, etc., being at measured distances to the right. These tabs are for convenience in picking out the card wanted. The cards are arranged in numerical order, with large index cards for each even hun -James J. Smith DATE Jany 24471 3 06 June 12 1350 18 1125 225 dred numbers, and smaller index cards for each even ten numbers. For example, the card shown in the figure would follow the index card marked 70, which would appear in its proper order between the large index cards 24,400 and 24,500. The cards are kept sometimes in the drawers of a cabinet, and sometimes in the drawers of a specially-prepared table whose top is made in movable sections, enabling the bookkeeper to place a section just at the side of the card-drawer on which he wishes to work. During the process of posting each card as wanted is removed from the file, the entries and extension are made, and the card is then returned to its place. A proof of posting may be taken in the same manner as that described in connection with Figure 244. A method used for proving the postings on the adding machine is as follows. Using the journal as a guide, the cards of the accounts active for the day are removed from the files, temporary cards (of different colors for accounts having credits and accounts having debits) being put in their places. After all the cards are removed the balances shown on them are listed on the adding machine. The postings are then made, and a new adding-machine list of balances is taken. To the latter list is added the total of the withdrawals for the day, and to the former list the total of the deposits; whereupon the totals will agree if the work has been done correctly. All of the accounts active for the day may be included in one such proof, or a separate proof may be taken for, say, each five thousand accounts. This will be determined by the method used in the monthly trial balances, which are often taken for each five or ten thousand accounts separately. The object in so doing is to lessen the ground that must be covered in searching for an error, search being necessary only for that group of cards which does not balance. For similar reasons, as already noted, companies which have a number of loose-leaf ledgers keep record of the balance of each ledger separately. This may be done by running in the general ledger a separate account for each of the savings ledgers. A better plan, however, is to keep a daily trial balance of who being Arst duly sworn says that....is the owner of a certain savings account with The Cleveland Trust Company, of Cleveland, Ohio, evidenced by PASS BOOK No. 73. company, and is the person named in said pass boɔk; that there is now due the sum of One hundred and ten and - issued by the said inson said pass book DOLLARS that the said pass book has been lest, mislaid, stolen or destroyed; and that the said account has not been sold, assigned or pledged to any person whatsoever. John John Smith tenth RJ Moon R.J. day Notary Public RECEIVED OF Cbe Cleveland Trust Company, this tenth day of January DOLLARS ($110 100.7 Being the balance due, with interest in full, on the above named savings account, in consideration whereof I hereby agree to fully indemnify the said Trust Company against any loss growing out of or in any way arising from the payment to me of the above sum without presentation of the pass book evidencing said account or by reason of any transfer or assignment of the said account or any interest therein. John Smith FIG. 251.-FORM USED WHEN PASS BOOK IS LOST. the savings ledgers in some such form as that shown in Figure 249. Each day the total debits and the total credits for each ledger, as shown by the savings journals, are entered in the columns shown, and the balance for each ledger is extended. The total of the balances for the several ledgers should equal the total savings deposits, as shown by the general ledger. This form may easily be arranged on the plan of the Boston ledger if desired. At interest-paying periods, pass-books are brought in for the entry of interest. Occasionally the interest is entered while the depositor waits, but it is more common to retain the pass-book for five or ten days, giving the owner a card receipt, such as is shown in Figure 250. It is not an unusual thing for a depositor to lose his pass-book, and demand payment of the account without presentation of the pass-book. In such cases it is wise to insist upon a thorough search for the book, as it very often happens that it has simply been mislaid, and the depositor finds it when he is made to understand the importance of doing so. If the book cannot be found, the depositor is required to sign an afhdavit and receipt, such as that shown in Figure 251, and the account is closed. |