[D8835ACN], Letter from Samuel Insull to Alfred Ord Tate, May 1st, 1888
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Title
[D8835ACN], Letter from Samuel Insull to Alfred Ord Tate, May 1st, 1888
Editor's Notes
"You will remember my speaking to you when I was recently at the Laboratory, with relation to the matter of entering up your vouchers from day to day; in fact of closing up the whole of the days transactions, so far as your books are concerned. ### This month we have billed upwards of Five hundred items to our customers, and have credited the people we purchase goods from with upwards of Three hundred and fifty vouchers. Everything is entered in the Abstract of Sales and Abstract of Purchases; the entries to the customers ledger and the voucher ledger have also been made; our Cash book has all been posted, and our bookkeepers are now engaged on making up a final condensation of the abstract of purchase and abstract of sales, in order to amek the journal entries for the General Ledger. In addition to this they have to supply me with a most elaborate analysis of the bills we owe and the bills that are owing to us. All this is done by one bookkeeper and assistant. The pay-roll for April has been all distributed (this you know is kept on the same system as the abstract of purchases) and all we have yet to receive to close up our books, is a report of the material used during the month. This is an absolute proof of what I told you the other day, namely, that the great advantage of the Voucher System is that the transactions of the previous day can be entered up each day, and that at any period of the month an absolute balance of my books can be made out at a few hours notice. Last month was a very heavy month for us; in fact that the heavies since last Fall, and yet you see my books will be closed up within twenty-four or thirty-six hours of the close of the month." Yours very truly, Saml Insull [Marginalia: "File"]
Author
Recipient
Date
1888-05-01
Type
Folder/Volume ID
D8835-F
Microfilm ID
123:519
Document ID
D8835ACN
Publisher
Thomas A. Edison Papers, School of Arts and Sciences, Rutgers University