111. Tickler

The tickler is a very important book. It is essential to have a note presented on the day it is due. If it is not done, the endorsers are released from their liability as endorsers. A very high grade of efficiency is expected by the general public from banks, and there must be no slip in the presenting of notes due at a future date. In the first place, the notes must be "timed." "Timing a note" means to figure out when it will be due under the terms of the note and noting it on its face. If notes are drawn so many days after date, a maturity calendar will be found very useful. This calendar shows the month in order on one page. In addition to the days of the month, the days of the year are also indicated. Thus the first of February will also be known as the thirty-second day of the year, the twenty-eighth as the fifty-ninth day; the first of March, as the sixtieth day of the year, and so on. Suppose a note is dated January 19 and is drawn at forty days sight. January 19 is also the nineteenth day of the year; adding forty days to have fifty-nine, which is found on referring to the calendar to fall on February 28.

Date,................................................................................................................

Figure 82. Tickler.

Date,................................................................................................................

Figure 83. Tickler.

Figure 84. Tickler.

Figure 85. Tickler (Reverse Side).

The simplest form of tickler is an ordinary diary in which a memorandum may be entered of the number of the note due on that day, the amount, where payable and such other data as may be found convenient. An improvement on this form would be made by having a book made up as per Figure 82 on page 168. A still better form is shown in Figure 83 on page 168.

A very convenient loose-leaf tickler is manufactured and sold by the Rand Co. of North Tonawanda, New York, ruled as per Figures 84 and 85 on pages 169 and 170, which represent both sides of the same sheet. They are twelve inches wide and nine and one-half inches long. The binder has twelve heavy divisions for the months with strong tabs. A sheet is inserted between the monthly boards for each day of the month. Each day's sheet also has a projecting tab so that with two moves of the hand the tickler can be opened to any day in the year. Figure 86 on page 172 shows a slightly modified form of this tickler. The distinguishing feature is the separating of the foreign and home notes.

If it is possible to have all notes paid at maturity, or if the bank is willing to adopt some other method of crediting discounts with the notes at maturity, and then making some disposition of unpaid items such as charging them to the customer and then crediting him on the same day with a renewal, or charging them to suspense to be later disposed of, a combination of tickler and journal may be made, which will save a great deal of labor. The tickler is a book of tickets ruled like Figure 87 on page 173, perforated so that the ticket may be removed from the book and handed to the bookkeepers at the close of the day.

Kanawaha Banking & Trust Co., Charleston, W. VA., Tickler ........................................

Figure 86. Tickler.

Figure 87. Combined Tickler And Journal.

This book should be dated with a band dater some weeks ahead. The name of the borrower, the number of the note and the amount shown on the credit side of the ticket is to be filled in at the time the loan is made. From time to time other notes will be added. Some discretion will need to be used in apportioning the number of pages needed for a day's discounts if they ever exceed one page. This difficulty may be overcome by using a loose-leaf scheme with binder; then when a page is filled up for a certain day, a new leaf may be inserted. A complete discount register should be kept if this system is used, because the names of other people than the borrower, whether he be maker or endorser, would be superfluous on this ticket. If such information be desired when consulting the tickler, the register may be quickly referred to from the number of the note appearing in the tickler.

When the day - July 13, 1909 - arrives, the tickler will be kept on the desk of the discount clerk. Mr. John Maloney has previously written a letter to the bank instructing them to charge his account, which is in funds, with the amount of the note maturing on July 13. The discount clerk simply enters the amount on the debit side of the sheet in the L-Z column on the line with John Maloney's name, stamps the note paid, pins it to Mr. Maloney's letter and throws it in his mail basket for advice with others when convenient.

Henry Brown brings in a certified check on the First National Bank. The discount clerk stamps his note paid and gives it to Mr. Brown. He then enters $700 in the cash column, making a memorandum in the remarks column to indicate of what the cash consisted.

Mr. Haviland calls and renews his loan for $1,000, instructing to charge his account with the difference, $500. He is informed that the bank will charge his account with the full amount of the old loan and give him a new loan of $1,000. The old note should be stamped paid and handed to him and the new note regarded as a new loan. Some banks refuse to surrender the old note until the loan is fully paid, no matter how many times it is renewed. There is no special advantage in having one's files filled with a lot of old notes, past due, which may be of immense advantage to an unscrupulous clerk who wishes to cover up a defalcation. Old notes should never be kept in the files when a new note has superseded them.

The messenger who was sent out by the discount clerk to see why Mr. Myer did not pay his note learned that he had been compelled to leave town a few days on a pressing business trip, and in the excitement of departure had forgotten to make provision for the payment of his note. His account is not good for the amount, so it cannot be charged. In any case it would be better to have instructions before charging. Mr. Myer is highly regarded by the bank, so the clerk simply charges it to suspense. The note is endorsed by several parties and it is therefore protested as a matter of precaution, and a special charge ticket made up for the fees. Similarly, each note should be disposed of at the proper time.

After all the notes have been recorded on the debit side in one way or another, the ticket is footed up, proved, torn out of the book along the perforated line and handed to the individual bookkeeper for posting. After he has made his entries, the general bookkeeper takes the ticket and debits A-K ledger, $1,500, L-Z, $500; suspense account, $300; cash, $700, and credits discounts, $3,000.

The current day's work is always before the discount clerk in his tickler.

A proof of discounts should be made from the tickler about once a month. The credit columns should be footed and a summary made of the totals, which should agree with the amount shown on the general ledger. If desired, the pencil footings may be made in the remarks column, where they will in no way conflict with other figures on the ticket.