Bookkeeping and accounting practise; by Hoover Simon Robert 1867-

Author:Hoover, Simon Robert, 1867- [from old catalog]
Language: eng
Format: epub
Tags: Bookkeeping, Accounting
Publisher: Chicago, New York [etc.] A. W. Shaw company
Published: 1920-03-25T05:00:00+00:00

Handling incoming goods. Incoming goods are listed on an invoice register which contains columns for date received, name, invoice niunber, date paid, amount, and department for which purchased. Upon anival of the goods in the receiving department, they are checked with the invoice by checkers, managers of departments, or buyers. The price tags are placed on the articles by this department also, after which they are released for distribution to the departments or to the stock room from which the departments are supplied.

Incoming goods are debited to the department and credited to the proper account in the purchase ledger, while returned pur-

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DEPARTMENT STORE ACCOUNTS

161

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Mvchase ledger >oth sides of Dunts which

ping work of 3QLon practice will be kept, from whom be filed in a ;hin the time

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I and usually

a bills faUing

alphabetical

the file clerk

following day's record.

tccumulation sold for any

selling price ,t is therefore

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hat an entire er of depart-D include all naining in a ;ht Forward. 0 the depart-5. From the duding goods . From this , and to the of goods by urse, at cost t the close of warded to thQ

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sold. To it 18 c>— insurance^ deZiV^ tiang, rent, and in all departj operators, and

How the 1: unit, all the cL^ management, some organizat>^ In some the 1=: determines th^ added to the buying is alrcB-^ department b^i

In certain; is usually left day, seciuing : the manager »t reported to tlu^

Some stor^ The original fi purchase is ttl.^ buyer, and tl^^ ment. The ] on the goods order nimiber or barrels coi

Handling ^ an invoice r^^SS name, invoice which purchm-^^ department, t>^^ agers of depa*::*^ the articles bjp^" for distributicr:^^

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chases are debited to the proper account in the purchase ledger and credited to the department returning them, both sides of these entries being sunmiarized in controlling accoimts which appear in the general ledger.

Handling incoming invoices. In the bookkeeping work of the People's Department Store, however, the common practice of many stores will be observed: no purchase ledger will be kept, because there will be no account kept with those from whom goods are purchased. All incoming invoices will be filed in a tickler file like that shown on page 163 and paid within the time allowed for discount.

A tickler file has 31 folders for the current month and usually 11 others for the remaining months of the year. All bills falling due on any day of the current month are found in alphabetical order in the folder of that day. Each morning the file clerk removes them from the folder.

The stock and invoice analysis sheet. The accumulation of goods that are out of date or that cannot be sold for any reason, or that must be marked far below the usual selling price in order to push them out, may mean serious loss. It is therefore necessary to keep close watch of the stock in each department. This can be done by means of a stock and invoice analysis sheet such as shown in Form 92.

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