In some offices where many buildings are cared for, the amount of repair and building work demands a constant force of workmen, usually under a foreman. This frequently renders advisable the purchase of building materials in quantity, which are stored in a yard. Under these conditions, the rent ledger should contain a Yard account, to which is charged all materials not bought for any particular building. Each week the foreman should render a statement of all supplies issued from the yard - and this is credited through a journal entry to Yard account and debited to the buildings concerned at cost price, including hauling, in a manner similar to that used in connection with any properly conducted storeroom.
At the end of each fiscal period, an accurate inventory should be taken of all material in the yard, and if this does not agree with the balance in the Yard account, the difference is credited or debited to Rent account, and the Yard account for the new year is opened for the amount of the actual inventory. The rent ledger must also include a General Office account, which is charged with all moneys transferred from the Rent account.
Where it is the custom to have repairs made by outside firms of plumbers, builders, etc., all orders for such work should be given on printed forms, a carbon copy of each being retained in the office. These should be numbered consecutively, and bound in the same manner as the receipt books. A separate order should usually be made for repairs on each house, and the contractor should be instructed to render a bill in duplicate for work done on each house, especially where rents are collected for other owners, so that such bill may be attached to the monthly statement of rents collected.