32 



To RE-OPEN A Set of Books. 



Keturn balances of cash, bank, file, and profit and loss to their 

 proi^er columns in the journal. 



Reverse the bills payable and inventory (taken at the close of the 

 period) entries. 



These reverse entries are necessary in order to keep payments of 

 this period's cash for department bills owed last month from affect- 

 ing last or next period's showing. 



They enable you to show exact business and profits without re- 

 gard to whether you owe or are owed more or less than at the 

 start. 



Note that inventory column leaves your department columns show- 

 ing only receipts and expenditures, or, practically, your profits or 

 losses at any stage of the period without necessitating balancing 

 your books except for verification. 



Entry columns are pro\'ided that you may watch more closely 

 the amount owed you by all customers (by the file columns) than 

 if department entries were made through these columns. 



Profit and loss columns are provided that you may not have to 

 open accounts for each department. 



Resource and liabilities card takes place of cards for all. 



The principles being explained the application rests with you 

 according to your requirements. 



Summing up the principles you will jDrobably note that many 

 things enter into the cost of production that you may not have 

 considered before. Does your selling price allow margin enough 

 to cover them? 



Price is easily obtained. It's quality that is hard to get. 



Watch your quality and demand the price.. The higher the quality 

 the more trouble you will have in keeping up with your orders. 



Time spent on accounts will pay you more money than any 

 department of your farm. Only a few minutes a day are necessary. 

 Let them go and you have to wait for your memory. A memory 

 that you think is infallible may cause you most loss, both in money 

 and trade. 



A customer lost isn't replaced by a new one gained. The lost one 

 has reasons which do not make good advertising copy. 



You may keep accounts on the bai-n door and be successful, but 

 keep them you must or your stable may eat up the profit made by 

 the mueh-despised hens. 



