110. Discount Posting Media

There are various methods of posting the results of the discount desk to the individual and general ledgers. The discount register is an excellent book of original entry and by allowing a separate column for each of the ledgers, may be used as a posting medium with distinct advantage. However, there is an objection in allowing too many clerks to know the details of the loans. The discount register showing the names of the borrowers and their endorsers and guarantors, contains a mass of information that may be of value to an unscrupulous person. It is information that the borrower would not like to have generally known. Therefore the bank should be very careful not to leave the discount register around for general inspection. In most cases it would be much better to make out a special ticket crediting the borrower. A very simple credit ticket is shown in Figure 79 on page 164. The charge to discounts may be made on a similar ticket as shown in Figure 80 on page 165.

Lincoln Trust CO.

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Figure 79. Credit Ticket.

Lincoln Trust CO.

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Figure 80. Charge Ticket.

Dr.

July 13th, 1909

Cr.

Figure 81. Charge And Credit Ticket.

The work of preparing the credits to the individual accounts may be simplified very much by using the system of tickets as shown in Figures 12 and 13 on pages 45 and 46. The detail of the day's entry in the discount department would appear on this kind of ticket as in Figure 81 on page 166.

It may be used to furnish the detail for the individual ledger, the total of charge to discounts for the general ledger and the total of the credit to the controlling account of each of the individual ledgers on the general ledger.