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Day Book

ledgers, current and balance

DAY BOOK. It is called in some banks the cash book, or state book. At a small branch one book suffices, and it contains a record of all the day's transactions. The entries on the received side, plus the balance brought forward from yesterday, balance with the entries on the paid side and the balance of cash on hand at the close of to-day.

In a large branch there may be subsidiary day hooks for current accounts, as may be found necessary, for transfer items, etc., and the totals of these books are brought into a daily summary book.

Where the number of current accounts is large, it is found very convenient to balance each current account ledger by itself (see BALANCE BOOK), and it is in the day book that all the current account items are separated to the ledgers where they belong, thus there may he a column for ledger A to C, another for ledger D to G, and so on.

The day book is an important book and requires to be carefully kept, and, as with other bank books, no erasures are permitted to take place. Any alteration is effected by

ruling out the wrong figures and inserting the correct ones.

The entries in the day hook are called over daily with the current account, and other ledgers, and this is done, in most banks, by clerks other than those N% ho write up the day books or post the ledgers. Some banks, in addition to calling over the day books, find it a useful plan also to check the actual vouchers with the current account ledgers. In a small branch the calling over may easily be done by the manager himself, who thereby gains information which he might not other wise obtain. In a large branch a manager might with advantage occasionally call over one of the ledgers himself.

Check ledgers which are in use in some banks are practically of the same nature as day books in other banks. (See CHECK LEDGER.)