SYSTEM OF ACCOUNTS FOE FABMEBS COOPEEATIVE ELEVATOBS. 7 



(Form No. 9; see p. 24) has been provided. Upon this report the 

 manager records all the transactions in receipts and purchases of 

 grain and incloses duplicates of sales tickets covering sales of mer- 

 chandise and of receipts for cash. From this form the bookkeeper, 

 although not employed in the elevator, is able to keep the system 

 of records in a satisfactory manner. The records of disbursements 

 covering incidental items in most cases are controlled by the secre- 

 tary or treasurer, and the bookkeeper should ook to him for records 

 of this type. 



PATRONAGE LEDGER. 



In a few States cooperative laws have been enacted enabling coop- 

 erative organizations to distribute dividends upon a patronage basis, 

 and for elevators operating under this law a patronage ledger has 

 been devised (Form No. 7; see p. 22), upon which are recorded the 

 individual purchases and sales of merchandise under the name of each 

 customer. 



GRAIN AND MERCHANDISE REPORT. 



At the end of the year, just before balancing the books, an inven- 

 tory of all merchandise on hand should be taken. Form No. 8, grain 

 and merchandise report (see p. 23), has been provided with suitable 

 headings so that the amounts of grain and merchandise on hand can 

 be recorded. This form serves a valuable purpose in giving the value 

 of net and stored grain on hand at date, from which comparisons can 

 be made showing the amount of stored grain sold. 



CASH, JOURNAL, PURCHASE, AND SALES RECORD. 



Previously it has been usual to provide a cashbook, journal, and 

 daybook under separate forms in elevator systems. In the system 

 herein described these books, together with a record of purchases, 

 have been incorporated into one form (Form No. 1, facing p. 20), called 

 the cash, journal, purchase, and sales record. As all the forms com- 

 prising this system, with the exception of reports and the patronage 

 ledger, are in loose-leaf form, they may be contained in one binder 

 (and the consolidation of four books under one form is a further con- 

 densation of the work). In the cash, journal, purchase, and sales 

 record are recorded all regular cashbook entries, such as receipts of 

 money and disbursements through checks, together with all journal 

 entries and records of local sales of merchandise. Purchases of ma- 

 terial such as flour, coal, etc;, are recorded under "Purchases," giving 

 pounds and amount. 



SALES TICKET. 



All the local sales of merchandise are originally entered upon the 

 sales ticket (Form No. 13; see p. 28), and these sales tickets are made 

 up in pads of 50 originals and duplicates, numbered consecutively. 



