Banking Principles And Practice volume 3

Cover Banking Principles And Practice volume 3
Banking Principles And Practice volume 3
Ray Bert Westerfield
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The combina- tions of typewriters and computation machines are indeed most 748 DOMESTIC BANKING— CASH AND DEPOSITS ingenious. The machine method of bookkeeping also promotes the use of the loose-leaf book.
To a considerable degree each bank has worked out a system of records adapted to its peculiar needs. The system is an his- torical growth; it has evolved by the process of trial and improve- ment. Sometimes an expert accountant is employed to overhaul completely the accounting system, but eve
...n his perfected scheme does not annihilate the individuality of the bank's system. A detailed description, therefore, of the bookkeeping system of any one bank is not of much help in understanding the system of any other bank; but it seems best to give somewhat roughly the scheme of a large metropolitan bank rather than of a small and possibly one-line bank. Given a general description of the more comprehensive system, adjustments and adaptations to simpler conditions can be readily made.
Classes of Records The books kept in any bank are of two general kinds: (i) the corporate records, and (2) the financial records.


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