BUSINESS PRACTICE AND ACCOUXTS FOE COOPERATIVE STORES. 49 
Account File System. 
Because of the extensive introduction of the duplicating and tripli- 
cating sales slips into the retail business, various account files have 
become very popular. They will be found entirely satisfactory only 
if used as a part of the system of general accounts, just outlined, and 
not as a substitute for it. 
Of course the account file is used for personal accounts only — for 
customers and, sometimes, creditors. The triplicating sales slip is 
recommended. One slip is given to the customer and two filed — one 
in the register, and the third in a special checking file, after having 
passed through the cash register. The essential difference between 
this system and the ledger system just described lies in the fact that 
the balance due is forwarded from slip to slip, the last one being 
exposed, showing the balance due. Also credits of whatever nature 
are entered on this same style of slip, deducted from the last balance, 
and the resulting net balance forwarded as before. (See Form 22.) 
In order to prove the accuracy of the register, the total of the last 
charge is listed from the triplicate (in the cash register) and a jour- 
nal entry made exactly as before (Form 19). Likewise, the pay- 
ments are listed and entered in the cash receipts, crediting the 
customers in the proper column (Form 14). Credits of produce are 
also listed on a register and journalized. The only difference lies in 
the fact that no posting to a customer's ledger is necessary, since 
the account file constitutes the customer's ledger. 
When the controlling entries are posted, the total of the balances 
in the register will equal the net balance of the Accounts Receivable 
in the General Ledger, if the work is correct. Care must be taken 
not to allow the daily checking to lapse, because an error dating 
back several days is extremely difficult to find. 
If the system is used also with the creditors' accounts, a special 
slip is used on which to forward the balances. A controlling account 
is kept in the General Ledger in the same manner as the customers' 
controlling account, and a journal entry is made of the total as 
often as desired. In this case, a special column would be neces- 
sary in the Cash Payments book with the heading "Accounts Pay- 
able," in which all payments to creditors would be entered. The 
individual items would be posted to the debit of the creditors' 
accounts, and the total posted to Accounts Payable at the end of 
the year in the same manner as the totals of the other columns. 
When this is done, the total balance in the register should equal the 
net balance in the controlling account. 
