an order. Some companies provide a special form of order where the withdrawal is for the full amount of the account. It is often required that such orders be witnessed. The rules of many companies provide that withdrawals from savingsaccounts may not be made except after written notice, which must be given a certain time in advance. This time varies from ten to ninety days and frequently varies with the amount to be drawn. The notices are filed according to their maturities, and the withdrawal must be made within a certain period (usually ten days or thirty days) after such maturity, or a new notice is required. Figures 240 and 241 show forms used in this connection. Notice left on book number 1648 for $30-022 at THE BLANK SAVINGS AND TRUST COMPANY. This notice is not negotiable, and must be presented by depositor when withdrawal is made. Date of notice Sept. 5 1906 Payable Oct. 190 le Or within ten days thereafter. FIG. 241.-ACKNOWLEDGMENT OF NOTICE OF WITHDRAWAL. SAVINGS JOUrnal. Record of the day's business in savings deposits and withdrawals may be kept by the bookkeeper on journals or scratchers similar to those used for commercial accounts; as for example that shown in Figure 131. It is more common, however, for the tellers to keep journals. of savings deposits and savings withdrawals, entering a memorandum of each transaction as it occurs. Figure 242 shows a form of this. record for withdrawals. As will be seen, each entry covers the number of the account, the name of the depositor, amount of the withdrawal (or deposit) and the pass-book balance after the entry of the item, together with any memoranda the teller may wish to make. The addition of the pass-book balance is a valuable feature, making it possible to verify the pass-book balance with that of the ledger without taking the time to consult the ledger for each item at the time of the transaction. The same result may be accomplished, but not so well, by entering the pass-book balance on the deposit slip or the withdrawal slip. In case the business is small, only one deposit sheet and one withdrawal sheet are used for each day's business, or for several days' business, until the sheet is full. In large companies, however, it is customary to use one sheet for the accounts in each of the several ledgers, or each division of the cards, if card ledgers are used. This is partly for convenience in posting, and partly in order to keep the total deposits and withdrawals for the day in each ledger separate, so that trial balances of each ledger may be kept. Figure 243 shows another style of savings journal, in which a separate column is provided for entry of the items in each ledger or each subdivision of the cards. The footings of the several columns show the total deposits (or withdrawals, as the case may be) for the day for the different ledgers or card subdivisions. Figure 244 shows a record of deposits similar to the form shown in Figure 242, but with the addition of columns for proof of postings. The teller, at the time of the transaction, fills out all the columns to "PassBook Balance" inclusive. The bookkeeper posts to the ledgers from this sheet; and, after making the posting, enters, in the columns shown, the old and new balances of each account. In doing this, he notes any case in which the new balance shown by the ledger differs from the passbook balance as entered by the teller. In this way differences between the two books are immediately detected, and the pass-books are called in for rectification. When the posting is completed, the footing of the column showing the amounts of deposits is entered in the "Old Balance" column, and if the postings and extensions are correct, the "Old Balance" and "New Balance" columns should agree in footings. With the withdrawal sheet the process is the same, except that the footing of the amount column is added to the "New Balance" column. In the systems illustrated in figures 242, 243 and 244, the sheets for deposits and with FIG. 244. SAVINGS JOURNAL, WITH PROOF OF POSTING. drawals are the same in each set, except for the headings "Savings Deposits" and "Savings Withdrawals" respectively. At the close of each year or each half-year, the sheets should be bound in permanent shape, and filed in the vault. SAVINGS LEdgers. The use of bound books for savings ledgers is fast giving way to the use of either loose-leaf ledgers or cards. The disadvantages of bound books for this purpose are many. They soon come to contain many closed accounts. The space assigned for a given account is apt to become filled, so that it is necessary to "carry forward" the account to a new page, or else to close the account and open a new one with a new number--a troublesome process both for the company and for the de positor. Where bound books are used, provision is usually made on each page for more than one account, the number varying from two to eight. The ruling does not differ materially from that used in the loose-leaf and card ledgers here shown. Figure 245 shows the form of loose-leaf savings ledger that is most commonly used. Its size, including binding space, is 121x914 inches. 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 In account with Sheet Fo. THE BLANK SAVINGS AND TRUST COMPANY James J. Smith Book Ho. 0.£769 I hereby agree to the Bylaws, Rules and Regulations of this bank James J. Smith Birthplace. Mother's maiden name, 25 Sarah Brown Balance Date Withdrawn Deposited Balance 36984 36984 25 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 24471 18 July 1st '06 htere Sept. 1 Nor 16 37639 Jan. 1st '07 Interest 622 38261 Feb 7440 45701 FIG. 248. SAVINGS LEDGER IN CARD FORM. |