24 



BULLETIN OF 



Massachusetts Board of Ageiculture. 



DIVERSIFIED FARM ACCOUNTING. 



Br L. A. Sloman of Amesbuey, Mass. 



Preface, 



It isn't knowledge we lack, it is application. 



Keei^ing accounts doesn't take time, it saves time, which is 

 money. But keeping accounts without jDroper system means more 

 books, more writing and unnecessary figures, and yet doesn't give 

 clearly the showing made by each department. 



It takes but a few seconds to make an entry now; disputes can't 

 arise if it is done. It is a matter of habit only, soon becomes 

 automatic, and keeps customers satisfied, which is the cheapest 

 advertising. 



Knowledge of losses avails you nothing without prompt applica- 

 tion of the remedies. To judge the efficiency of the remedy you 

 must have figures to show the results in different methods of 

 handling each department. 



Neatly printed billheads and letterheads, on good quality paper, 

 are an incentive to make out bills and correspond. Your person- 

 ality is conveyed by the quality of your stationery and neatness of 

 the heading. 



If you can't answer inquiries the day received, acknowledge them, 

 staling when you will give the desired information. 



Bills and statements should be sent out regularly, whether due 

 or not. 



Working capital means money on hand and in the bank. Confine 

 your business to the working capital at your disposal. 



Fix a credit limit at below one-half your working capital and 

 keep the total owed you by all customers within that amount. So 

 sure as you trust out an amount in excess of your ready money, 



