Excerpt from Systematizing the Oil Business

Certificate books can be made up by your printer, and in this way you will be able to select a design suit able for your business.

The next book on your program will be your Stock holders' Ledger. This book will be used to keep the names of your stockholders, the number of shares they own and the price they paid for same, as shown by the stub in your stock certificate book. This Ledger should be kept as any other ledger. Credit the shareholder with each certificate purchased by him, or her, and debit them with any transfer of stock which they should make, thereby keeping a complete record of your issued stock at all times. Besides showing the names of stock, or shareholders, you should have a complete record of their addresses, showing street numbers, or postoffice box numbers when possible. Always be sure to note any change of' address, and change these on your records at the time you receive this information. By following this rule you will likely save yourself a lot of grief. A good ledger for this purpose is put out by the Dorsey Com pany, 1000 Commerce Street, Dallas, Texas, and if same cannot be purchased from your local stationery supply house, you may order it direct from the com pany in Dallas. When ordering call for Stock Certifi cate Ledger No. 3462, which may be had in 200, 400 or 600 pages.

The next thing 'on your program is your regular set of books. As I said before, I will not attempt to outline a set of books to cover your business, as I am not familiar with it. Some accountants prefer a three-book system, consisting of a two column journal, a cash book and a ledger. Others prefer a col umnar journal with enough columns to cover their segregated expense accounts, adding these columns at the end of each month and carrying these totals to their-respective accounts in the ledger. When one person has a lot of work to handle there is no doubt but that person can handle more business in less time with a columnar journal, covering the different expense ao counts with one posting of each to the ledger, than could be handled by the individual posting of each sepa, rate item to the ledger With a, set of books of this kind made for your individual business needs you would certainly have. An ideal bookkeeping system.

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