66. Boston Ledger - Three Column

There is necessarily a great deal of work connected with the individual ledger desk and as usual many labor-saving devices have been tried. Perhaps the most successful and widely adopted is the Boston ledger. The form generally used is shown in Figure 47 on page 96. The names of the depositors are sometimes printed down the left side of the left page and the right side of the right page, and sometimes down the middle of both pages. Many banks do not have the names printed, but have several short leaves cut between two long ones and use one writing of names on the margin of the long sheets. Other banks have the names of the depositors typewritten by a book-typewriter on these margins. The very active accounts may require two or more lines to give space enough to post all the debits.

The postings on this ledger are made directly from the checks and the deposit slips. The ledger is really a combination of ledger and journal. The summary of the footings of the credit columns equals the total deposits received, credits made for loans, discounts, etc. The summary of the debit columns equals the total amount of checks paid by the paying teller, loans charged by the loan clerk and other charges. The summary of the balances agrees with the balance due depositors, as shown by the general ledger.

Figure 48. Two-Column Boston Ledger.

Thus various classes of errors may be easily located. If the error is one made in striking the new balance, it may be narrowed down to a page of accounts, by taking the sum of the balances at the opening of the day, adding the sum of the credits made during the day and deducting the sum of the debits. The difference should equal the sum of the new balances. If the error is in the posting, it may be quickly determined whether it is in the debits or credits by comparing the total of the paying teller's debit book, loan clerk's charge tickets and other charges, with the sum of the debits made on the ledger. The posting of the credits may be tested in the same way by comparing the sum of the credits with the receiving teller's credit book, the loan clerk's tickets and other credits.

It is the usual custom to carry a week's work on the two pages shown when the book is opened. By inserting three short leaves, the names written on the long leaf will do for a month's work. If the accounts change very little, a few more short leaves may be inserted and the book used for a longer period.