Ancient Double Entry Book Keeping

The Bahi Khata is a double-entry system of bookkeeping that existed in India since ancient times. The fact that its existence is prior to the Greek and Roman empires suggests that the system travelled with the Indian traders to Italy, and from there the double-entry system spread through Europe.

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6. Copyright1914
BytheAuthor

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8. TABLEOFCONTENTS
IntroduL'tion
Preface
PartialBibliography .
HistoricalReferences
Historical
DiscursioninTheory
.
LucasPacioli
Page
(ByPageLawrence,C.P.A.) 1
(BytheAuthor) 3
(BytheAuthor) 8
("" " ) 14
DomenicoManzoni
DonAngeloPietra
MatteoMainardi
a t(
(( <c
JanYmpynChristolfels
SimonStevin
RichardDafforne
Reproduced (Author'sexplanation) 17
TitlePage (photographicreproduction) 18
Whatwashisrealname 21
Abbreviationsused 24-25
Peculiarsayings 27
Comparativeindexoftheearliestwriters 29
EntireText (photographicreproduction) 32to80
Completetranslationofentiretext 33to81
Journal (photographicreproduction) 82
Author'snotesonreproduction 83
Abstractsfromtext 84
RulesforJournalizing 85
Indextooriginaltext 85
JournalandLedgerreproduced (NotesbyAuthor) 87
Indextooriginaltext 89
Extentoforiginaltext 91
photographicreproduction) 93
) 94
) 95to96
) 97to107
(NotesbyAuthor) 107
photographicreproduction) 108
) 109
) 110
) 112
Author'snotes 113
JournalandLedgerreproduced (NotesbyAuthor) 114-118
TitlePage
Chart
Journal
Ledger
Journalreproduced
TitlePage
Introduction toExecutor'sBooks
Journal
TitlePage
TitlePage
BalanceSheet
ProfitandLossAccount.
Journal
Ledger
ControllingAccount
photographicreproduction) 119
)
).
.120
.121
.122to127
.128to135
.136
Partiallyreproduced (NotesbyAuthor) 137
TitlePage
EpistleDedicatory
AntiquityofBookkeeping
.
Index
Text
Journal
Ledger
TrialBalance
photographicreproduction) 140
) 141
Afterword
.
.144
.145
.147to171
.172
.174to179
.180
.182

9. INTRODUCTION
ByPageLawrence,C.P.A.
Nearlyallhistorians,whentracingthegi'owthofanartorsciencefrommereempiricismtotheestab-
lishmentofrecognizedprinciples,areconfrontedwithanapparentinsurmountablegaporcompletesilence
duringtheperiodknowninhistoryastheDarkAges.
Archaeologicalandhistoricalresearcheshaveconvinced thiscivilization thatinAncientBabylon,
GreeceandRometherewasahighstateofcivilization—bothindustrialandsocial.
TodaywemaystudyAristotle'spoliticswithgreatprofitinourattemptstounderstandthepolitical
andeconomicconditionsconfronting thisgeneration.AnacquaintancewiththeGreekphilosophers ises-
sentialinundei'standingourpresentphilosophicalthought.
Itwouldseemthat,sincewefindsomuchhelpinconsultingtheseancientwritersinanattemptto
solvethepoliticalproblemsoftodaywhicharepresentedbythiscomplexcivilization, inalargemeasure
atleastourmentorsmusthavebeenconfrontedwiththesameeconomicandindustrialdifficultiesthatwe
areattemptingtosolvenowasaccountants.
Oneisconvincedthattheancientwritersonpoliticaleconomyandcommercewerecloselyalliedwith
thescribesoraccountantswhorecordedthebusinesstransactionsofthosedays.Thisallegianceseemsto
havebeenlostaftertheRomansupremacy(andtheconsequentgrowthandspreadofcommerce),andit
isonlywithinrecentyearsthatthemoderneconomistandaccountanthasacknowledged thatatruerun-
derstandingofmoderncommercecanbehadwithcooperationandthatthetwosciences(economicsand
accounting)arefindingsomuchincommonthateachisdependentupontheotherforafullunderstanding
ofmodernbusinessconditions.
Mr.JohnP.Young,EditoroftheSanFranciscoChronicle,ablypresentedaccounting inantiquity
beforetheconventionoftheAmericanAssociationofPublicAccountants atSanFrancisco(YearBook
1911,page153).HeshowedthatRomeinCicero'stimewasdependentupontheindependent verifica-
tionofaccountsandstatementsthereofbyoneskilledinaccountancy. Thefamiliaritywithwhichhe
mentionstheaccountantwouldseemtoindicatethathisplaceintheRomansocialorganizationwaswell
established.
However,aftertherecordedutterancesofCicerothehistorianfindsinthepagesofhistorynofurther
mentionofthoseindividualsacknowledged tobeskilledinaccounts,whichwearepleasedtocallaccount-
ants,untilthewritingsofPaeioliin1494andStevinin1604.
Itseemsespeciallyappropriatethatonesogreatlyinterestedastheauthorinthatworkdeartothe
heartsofallprogressiveaccountants,andwhohasdonesomuchtoplacetheeducationoftheaccountant
onequalfootingwiththatoflawormedicine,shouldbethefirstofmoderntimestotranslatethisfirstre-
cordedbookoftheprinciplesofdebitandcreditintotheEnglishlanguage.
ItisasignificantfactthattherulesandprincipleselucidatedbyPaeioliarecontainedinabookgiven
overtomathematics. Onecannothelpbutbelievethatthederivationofdouble-entrybookkeeping isan
explanationofthealgebraicequationusedwithsucliskillbytheancientGreekmathematicians, applied
practicallytothescientificrecordingofbusinesstransactions for,justasinalgebra,theequationonce
establishedcannotbechangedbutbytheadditionofpositiveornegativequantities.
Thisworkwillgiveanaddedassurancethattheapparentlyempiricalrulesofcommercearebased
uponanancientscientificandmathematicalfoundation, tothosewhohaveattempted toinstillintothe
commercialmindtheideathataccountancy isascience,theprimerequisiteofamasteryofwhichisathor-
ougheducationinthetheoryofeconomicsandalliedsciencessupplementedbypracticalexperimentation
intheapplicationofformulaetopracticalbiisinesssituations.
Theaccountanthastocorrectconstantly,oratleastmodify,theattitudeofthebusinessmantoward
matterswhicharehisdearestheirloomshandeddownfromthedaysoftheAncientGuildsystem, i.e.,
thattheonlywa.ytolearnhowtodobusiness istodoitalongtherule-of-thumbmethodcommunicated
fromfathertosonbywordofmouth.
Accountants,whorememberthedearthofaccountanc.y literatureinthiscountryuptoah\vshort
yearsago,aredumbfounded atthemassofaccountancy publicationswhichareconstantly floodingthe
marketatthistime.WhileIbelievethattheprofessionofaccountancy asawholerecognizestheines-
timablevalueofthesepublications,onecannothelpbutthinkinperusingtheirpagesthattheyarelargely
influenced b.ytheempiricalmethodsofgeneralbusiness,ratherthanbasedonscientificprinciples. In
otherwords,on"how"butnever"why."
Wearewonttolookinvainthroughmazesofdescriptions,formsandprecedenceofsomeparticular
businessenterpriseforaprincipleofaccountancywhichcanbeappliedtothespecificdifficultywehave
inhand. Itshouldbetheaimofsomeofthebrilliantmembersoftheprofessionofaccountancy totake
thegreatmassofhistoricalrecordswhichhavebeenpublishedinthelastfewyearsofhowthisorthat
businessshouldbekeptand,withtheaidofrecognizedauthoritiesoneconomics,codify,withquotationof
theirsource,thescatteredandilldefinedprinciplesofaccountancy forthebenefitofaccountancyeduca-
tion,andtothisendnobetterexamplesofaxiomaticprinciplescanbehadthaninthebooksofPaeioli,
PietraandStevin.

10. Theauthor,recoguiziugfromhisexperienceasaneducatorinaccountancy(comingashedidfrom
HollandsometwentyyearsagowithoutknowledgeofAmericancommercial practicesorlanguage) the
lackofclearlyexpressedprinciplesinaccountancy,commencedresearcheswhichhavefinallyculminated
inthispublishedtranslationinEnglishofthefirstknownwritingsonthesubjectofdoubleentrybook-
keeping.
Ateveryturn,inthepreachmentofthescientificprinciplesofhisprofessiontothecommercialmind,
inhissuccessfuleffortsforthepassageoftheCertifiedPublicAccountslawinColorado,theninhiswork
assecretaryofthefirstexaminingboardinthatstate,inhislaborsasDeanoftheSchoolofCommerce,
AccountsandFinanceofTheUniversityofDenver,andasaninstructoronpracticalandtheoreticalac-
countancysubjectsand,finallyasChairmanoftheEducationalCommitteeofTheAmericanAssociationof
PublicAccountants, theauthorhaseverbeenconfrontedwiththedearthofpracticalexemplification, his-
toricalorotherwise,ofthetruefoundationofwhatinmoderntimesmightbecalledtheArtofAccountancy.
Toweldtogetherintoawellbalancedwholethetwoplansofaccountancyeducation,asembracedin
thecurriculiofuniversitiesandcollegesofferingtrainingtotheembryoaccountant,haslongbeenthegoal
ofhiseducationalendeavors, i.e.,toleaventhepurelyacademictrainingbyinstructors orprofessors
whoseownknowledgeofaccountancy isinthemainpedagogical,withthepracticalknowledgeasimparted
bythepracticingaccountantandthebusinessman.(Theauthor,intheAmericanAssociation ofPublic
AccountantsYearBooksfor1911-12-13and14,hasgoneintothissubjectextensively,showingthateduca-
tionalinstitutionsofthecountryhavechoseneithertheoneortheotherofthetwomethodsofteaching
—
theacademictraininginpuretheory,treatedinmuchthesamemanneraseconomicsubjectsarepresented
andwithoutthesamedegreeofaccuracy,orthepracticallecturinguponaccountancysubjectsbypractic-
ingaccountantsandbusinessmen,supplementedbythebesttextbooksobtainable—andurgingthewhile
thenecessityforthedevelopmenttogetherofthetwoaccountancyeducationalplans,asisdoneinGreat
Britain.)
Whileitistruethattomenoflittleornopracticalexperienceinaccountancymustbegiventhecredit
forproducingsomeofthefinestexamplesofpurelytheoreticalaccountingwhichtheliteratureofaccoun-
tancyhastoday,thefirstmentionedcriticismthatthispedagogicalinstructiondoesnotteachtheactual
applicationofthetheorytomodernbusiness,againapplies.Ontheotherliand,withthepractical ac-
countantastheinstructororthewriteroftextbooks,toolittlecannotbesaidofthedifficultyhehasin
impartingtostudentsandlaymentheprincipleswhichseemexceedinglycleartohim.Anditwasthrough
thisresearch,thislabortocombineinaccountancyeducationtheorywithpracticeandpracticewiththeory,
thatthisbookwasborn. ItisapparentinreadingtheancientworksofPacioli,ofStevinandPietra,in
theirexhaustiveexplanationsandtheirlengthyandpreciseinstructionsthatintheirendeavorstosystem-
atizetherecordingofthetransactionsofcommerceoftheirtime,theyencounteredmanyofthesamesort
of,ifnottheidentical,problemswithwhichweareconfrontedtoday.Themoderntranslationsoftheir
works,withtheauthor'sownviewspresentedasnotes,itisbelievedwillshedsomelightintothedarkness
whichhassolongshroudedtheactualfoundationofthepracticeandthetheoryoftheprofessionofpub-
licaccountancy.
Denver,Colorado,August,1914.

11. PREFACE
Asnotechnicalbooksworthwhilecanbepreparedwithoutdiligentandpersistentresearch, itnatur-
allyfollowsthatnosuchworkscanbeproducedunlessthereismaterialfurnishedtobuildupon,andthe
cheapestandeasiestfoundation isusuallythewritingsofmenwhohaveexcelledinthesamelineofen-
deavor. Inotherwords,alibraryofbooksisabsolutelyessentialtotheadvancementofthoughtontech-
nicalandprofessional subjects.
WhilestudyingtoAmericanizemyknowledgeofaccountancytwentyyearsago,Icametothecon-
clusionthattherewerethenonthatsubjectfewmodernbooksandstillfewerancientones.Thisconvic-
tionwasconstantlystrengthenedbyconversationwithmyfellow-workers,anditremainedunchangedun-
tilafewyearsago.
Whenmydutiescametoincludetheteachingofaccountancyandthedirectionofthethoughtofmy
students,thechoiceofbooksfortheirreadingbecameaseriousproblem. Itwasthenmyprivilegetostart
thecollectionofaconsiderablelibraryofworksonaccountancyanditsalliedsubjects.
However,Icouldlearnofbutfewbooksofancientdate,andtheyweresoscarce,difiSculttoget,and
highpriced,thatmostofthemremainyettobeacquired.AmongthosewhichIdidgetisanoriginal
copyoftheoldestpublishedworkonbookkeeping. Thepriceforcopiesofthisbookrangesfrom$50to
$250,anditisthusnotwithinthemeansofordinarystudentsandisevenbeyondtheinclinationofac-
quisitionofmanyofthemostwealthylibraries. Itbecamemydesiretohaveitreproduced,togetherwitha
freetranslationofitsmostimportantparts.
Thisdesireincreasedwhenmyresearchshowedmethatthefirstmantofollowtheteachingsofthis
Italianbookandtotranslate itintoanotherlanguage,wasafellow-countryman ofmine,aHollander
namedJanYmpynChristoffels.Hetranslated itintotheHolland,French,andEnglishlanguages,and
tothisdaywefollowhislead,(asoutlinedinthetitleofhisbook),ofcallingdouble-entrybookkeeping
bytheuseofdaybook,journal,andledger,theItalianmethodofbookkeeping.
TheHollandersofancientNewAmsterdam(nowNewYork)havelefttheirunmistakableimprint
onourAmericanpoliticalandsociallife,bytheintroductionintothiscountryofmanythingswhichorig-
inatedintheirmother-coiuitryandwhichwereunknowneveninEnglandpriortotheiruseinAmerica.
TothisdaymanyofthesethingsremainunusedinEngland,whichisonereasonwhywearesodifferent
fromtheEnglish.Amongthesethingsmaybementioned
:*
Therecordingofdeedsandmortgagesinapublicoffice ;theequaldistributionofpropertyamongthe
childrenofapersondyingintestate
;theofficeofadistrictattorneyineachcomity ;thepracticeofgiving
aprisonerthefreeservicesofalawyerforhisdefense ;thetownshipsystem,bywhicheachtownhaslocal
self-government; thepracticeofmakingprisonerswork;theturningofprisonsintoworkhouses;the
systemofuniversityeducation ;freepublicschoolsystem ;thered,whiteandbluestripedflag ;theprin-
ciplescontainedinourDeclarationofIndependence ;thegrantingofreligiousfreedom ;thecultivationof
roses
;thepresentbankingsystem ;theuseofreadingandspellingbooksforchildren ;thetelescope ;the
microscope
;thethermometer
;thediscoveryofcapillarycirculation oftlieblood ;thependulum clock
;
measuringdegreesoflatitudeandlongitude ;thecompass ;thewind-millwithmovablecap ;theglasshot-
house
;theuseofunderclothing ;thebedstead ;thebrick ;thegameofgolf.
IthasseemedtomefittingthatanotherHollandershouldpresenttohisAmericanprofessionalbreth-
ren,andputwithinthereachofeverystudentofaccounting,forresearchandstudy,areproduction of
thatprizedItalianbook,which,asweshallsee,hasinfluencedustosuchanextentthattheprinciples it
enunciatesasofuseinitsday,remainthefoundationofourpresentmethodsofbookkeeping.
Itwasnotmyaimtogiveacompleteliteraltranslation,becausemuchofthetextisreiterationand
pertainstosubject-matterpurelylocalandnowentirelyobsolete,whichwouldnecessitatelengthyexpla-
nationsofancientmethodsofnopresentvalueoruse.Therefore,numerousforeigntermsandancient
nameshavebeenleftuntranslated. Furthermore, asthebookwaswrittenincontemporary Italian,or,in
otherwords,inthelocaldialectofVenice,whichisneitherItaliannorLatin,itisextremelydifficulttoget
localtalentsufficientlytrainedinthisworktotranslate itallliterally.
Theoldstyleofwritingisunattractiveandtiresometofollow.Whileitiscustomaryandproperin
translationstofollowtheoriginalstyleasmuchaspossible,andtocliangeitnomorethanisnecessaryto
makeitreadilyunderstoodandeasilyreadinmodernlanguage, itwasfoundextremelydifficulttodothat
inthisinstance,andfurthermore, itwouldhaveservednopracticalpurpose.Andthen,whoisthereat
thepresenttimebutascholarofsomeeminenceandalinguistofnomeanaccomplishment,whowillpre-
sumetosaywhatiscorrectandwhatisincorrect?Suchauthoritiesneveragreeamongthemselves,andit
wouldbeuselesstoattempttopleasethemall.Therefore,weareextendingthetranslations,notsomuch
foracademicpurposesasforthepracticaluseoflesspedanticpeople,uponthetheorythattheywhowish
toobtainknowledgeofanysciencemustfirstlearnitshistoryandthentraceitsgradualgrowth.There
ishardlyanotherscienceaboutwhichthereisasmuchdoubtanddarknessasbookkeeping,andthereforewe
merelypresentthistranslationasacontribution tothehistoryofbookkeeping.
WilliamElliottGrifflsin"TheLadies'HomeJournal."

12. Criticismhasbeeumadeofthetitleofthisbook,
'
'AucieutDouble-EntryBookkeeping,
'
'intheuseof
theword"Ancient"asappliedtotheyear1493A.D.Thelongobscurityofthe"DarkAges,"during
whichtherewasnolightwhateveruponthisimportantsubject,has,inourbelief,madethetreatiseof
Pacioliancient,and,furthertheabrupt"leapthroughthedark"fromthisancientworktotheworksof
moderntimes,webelievejustifiesthetitle.
ThereaderisfurtherreferredtotheGermantranslationofPacioli'sbookbyE.L.Jagerwhichap-
pearedin1876,andtheRussiantranslationbyE.G.WaldenbergwhichwasprintedinSt.Petersburgin
1893.
Pacioli'sbookwasfirstphotographedandplatesmadefromthesephotographs.Proofsheetsfromthese
plateswerethensenttoRome,Italy,andtheretranscribedonatypewriterinmodernletters,tofacilitate
translating. ThetypewrittentranscriptwasthentranslatedintoEngli.sh,whichwasthencomparedwith
anexistingGrermantranslationbyDr.Jager. Discrepancieswerecarefullynotedbyreferencetotheorig-
inalbook,andthebestpossiblecorrectionsmade.Thismethodbroughttothesurfaceobviousandglar-
ingshort-comings intheGermantranslation,anditalsodemonstratedourowninabilitytocomprehend
andproperlytranslatesomeoftheoldtermsandwords,whicheventheItalyoftodayhaslongforgotten.
Withitallthen,wearefreetoadmitthatinnumerousplacesourEnglishtranslation isdefective.How-
ever,wearenotimposingonthosewhoarebetterscholarsthanwe,becausewegivetheoriginalItalian
sidebysidewithourEnglishversion,andanyonesodisposedcaneasilycheckitandcorrectourcopyto
suithisfancy.
Theonlyobjectofourendeavors istogivesomethingwheretherewasnothingtothosewhohereto-
forecouldnotavaUthemselvesofthecontentsofthisoldandpioneerworkonasubjectnowuniversally
recognizedasbeingthefoundationofallourmodernindustrialandcommercialproblems.
Weaskyourindulgenceforerrorsandomissions,andforthepriceofthisbook,astheworkhadto
bedonehastilyandcheaply,forthefinancialsuccessofthisenterprise isexceedinglyproblematical,owing
totheexcessivecostofpreparationandreproduction,andtheverysmallpossiblecirculation. Thework
thereforeshouldbeviewedlargelyasalaboroflove,avoluntaryphilanthropic contribution tothepro-
fessionofaccountancy.
Acknowledgment isdueandmostgladlygivento:mywife,aCertifiedPublicAccountantoftheState
ofColorado,whoaidedwiththeGermantranslation ;toMr.RobertFerrari,LL.D.Roma,Italy,who
aidedwiththeItaliantranslation ;toMr.HenryRandHatfield,PH.D.,UniversityofCalifornia,whocrit-
icizedthework ;andtoMr.PageLawrence,C.P.A.,whowrotetheintroduction
:—trulyaveritablecom-
bination(trust)offormidablemindsinrestraintofduplication (competition) ofthiswork,acombina-
tionofloveandharmony,forwithoutfriendsandwithoutconsideration forourneighborthereisneither
peacenoraccomplishment.
Thebook,therefore, istheresultofafaithfulcompliancewiththemottooftheBoersofSouthAfrica
:
"Eendrachtmaaktmacht,"whichtranslateddoesnotmean,ascommonly stated,"Inunionthere is
strength,"butratherthat"United,harmonious,lovingcooperationtothesamelawfulendtendstoward
powerthatbringsjustresults.
'
'
J.B.GeijsbeekMolenaar.
Denver,August,1914.

13. PARTIALBIBLIOGRAPHY
1494to1636.
Sixteenofthemostinfluentialbooksoutofapassibletotalof50works.
I.ITALIAN.
SnmmadeArithmetica,Geometria,
Proportioni etProportionalita.
Part1,Section9,Treatise11,
ParticularisdeComputisetScripturis.
FraterLucasdeBurgoSanctiSepulchri,OrdinisMiuoruni
etsaeretheologiemagister,inartearithmeticeetgeometrie.
Geijsbeek-Lawrence Library,Denver.
HarvardUniversityLibrary,Cambridge,Mass.
LaSeuolaperfettadeimercanti.
Fra.PaciolodiBorgoSantoSepolcro.
SummadeArithmetica
Venice1494
Toscana1504
Venice1523
(seefulltitleabove,thisbeingpractically aduplicate edition of
1494,butcontainslesscontractionsandabbreviations.)
Edinburgh, CharteredAccountants'Library.
Library,UniversityofCalifornia.
Quadernodoppiocolsuogiornalesecoudo 11costumediVenetia.
DomenicoManzoni. Venice1534
Also1554-1564-1565-1573-1574
Edinburgh, CharteredAccountants'Library(1554edition).
Indrizzodeglieconomi.
DonAngeloPietradeGenoa.
Geijsbeek-Lawrence Library,Denver.
LaScritturaMercantilefattaeriordinata.
(Reprintedin1700underthetitleof"L'Economo overoLaScrit-
turatutelare,ScritturaMercantile.")
MatteoMainardi.
Geijsbeek-Lawrence Library,Denver.
II.GERMAN.
EiuTeutschvertendigBuchhalten fiirHerrenoderGesellsehafterinhalt
Wellischemprocess.
JohannGotlieb.
RoyalLibrary,Munich,Germany.
ZwifachBuchhalten.
WolffgangSchweicker.
KheilLibrary,Prag.
Edinburgh, CharteredAccountants'Library.
BuchhaltennacharthundweisederItalianer.
PasschierGoessensfromBrus.sels.
StateLibrary,Stuttgart,Germany.
5
Mantua1586
Bologna1632
Nuremberg1531
Nuremberg1549
Hamburg1594

14. III.DUTCH.
NieuvvelustructieEndeBewijsderLooffelijekerCoustendesReken-
boeckseendeRekeuinghe tehoudeuenaedieItaliaeuschemaniere.
JanYmpynChristoffels.
Antwerp(Dutch)1543
Antwerp(French)1543
Antwerp(English)1543
CityLibraryatAntwerp(Dutch).
LibraryoftheNieolaiGymnasium atReval,Rus-
sia(English).
Fideicommiss-Bibliothek atMaihingen-Wallerstein,
Germany (French)
.
VerrechningvanDomeine(includingchapterson)CoopmansBouck-
houdingopreItaliaeuschewyseandVorstelickeBouckhouding opde
Italiaeuschewyse.
SimonStevin.
Amsterdam1604
Geijsbeek-Lawrence Library,Denver.
HypomnemataMathematiea.
SimonStevin. Leijden1608
IV.ENGLISH.
Abriefeinstructionandmanertokeepebookesofaccomptsafterthe
orderofDebitorandCreditor,andaswellforproperaccomptsparti-
ble,etc.newelyaugmentedandsetforthbyJohnMellis,Scholemaister.
(purporting tobeareprintofabookbvHvighOldcastle,London,
1543.)
JohnMellis.
LibraryofInstituteofCharteredAccountants in
EnglandandWales(London).
London1588
TheMerchants'MirrourorDirectionsforthePerfectOrderingand
KeepingofhisAccounts.FramedbyWayofDebitorandCreditor
afterthe(so-termed) ItalianManner.
RichardDafforne. London1636
Also1651-1660-1684
Geijsbeek-Lawrence Library,Denver.
HarvardUniversityLibrary,Cambridge,Mass.
LibraryofCongress,Washington,D.C.

15. HISTORICALREFERENCES
Sehatzkammer ItalienischenBuchhaltens.
ChristophorusAchatiusHageru.
StateLibrary,Stuttgart,Germany.
Hamburg1654
BeitragezurGeschiehtederErfiudungen.
JohannBeckmann.
LibraryofCongress,Washington,D.0.
StateLibrary,Stuttgart,Germany.
Leipzig1786
OriginandProgressofBookkeeping.
B.F.Foster.
Library ofInstituteofCharteredAccountants
inEnglandandWales(Loudon).
London1852
DieBerechtigungdereinfachenBuchhaltunggegeniiberderdoppelten.
ErnstLudwigJager.
Library,UniversityofCalifornia.
Stuttgart1868
BeitragezurGeschiehtederDoppelbuchhaltuiig.
ErnstLudwigJiiger.
Library,Univei-sityofCliicago.
Library,UniversityofCaHforuia.
Stuttgart1874
LucasPaccioliundSimonStevin.
ErnstLudwigJager.
Library, Univei-sityofChicago.
Stuttgart1876
LucaPacciolo,consideratocomeragionere,lezionetenutoaliar.scuolodicommerzio.
GuidoBrandagliadeArezzo.
EleneoCronologicodellaoperadicomputisteria eragioneiravenutealiaeneeinItalia.
LibraryofCongress,Washington,D.C.
Venice1882
Kome1886
UebereinigeiiltereBearbeitugenderBuchhaltung—TractatesVonLucaPacioli.
CarlPeterKheil.
Geijsbeek-Lawrence Library,Denver.
Prag1896
TheHistoryofAccountingandAccountants.
RichardBrown,Editor.
Edinburgh1905

16. HISTORICAL
Printingfromblocksofwoodinwhichtheletterswerecarved,wasknownlongbeforetheChris-
tianera,butthiswascumbersomeandslowandhencebutfewbookswerepublishedinthatmanner.
Printingfromloosemetaltypewhichcouldbesetupinthewayknowntousto-daydidnotbeginto
beasuccessuntilafterA.D.1462,whentheGermancityofMaintzorMentz(wherethefirstwell-
knownprinter,Gutenberg,andhisstudentslived)wassackedbyAdolphofNassau,andthosewho
wereprinterswerescatteredfarandwidethroughothercities.
Evenduringthefirstpartofthesixteenthcentury,one-fourthofallthebooksprintedcamefrom
onecityonly, i.e.,VeniceinItaly.Thereforeabookproducedfromloosetypein1494inVenice,must
havebeenamongtheveryfirstprinted,anditssubjectmusthavebeenatthattimeofsuchprime
importanceastomakeitworthyofbeingamongthefirsttobepublished. Theoldesttreatisewhich
liascomedowTitouseitherprintedorwrittenonthesubjectofbookkeeping, isincludedasapartofa
ratherlargeprintedvolumeonarithmeticandgeometry. Thisvolumewaspublished inNovember,
1494,inVenice,Italy. Ithasbeenusedconsiderablybylaterwritersonthesubjectofarithmeticand
geometry,andismentionedinnumerousworksofbibliographers, botliancientandmodern.Thetitle
is:SummadeArithmeticaGeometriaProportioni eProportionalita."Bookkeeping istreatedinPart
One,Section 9,Treatise11,underthechaptertitleof"ParticularisComputis etScripturis,"which
translatedwouldmean:"Particulars ofReckoningsandTheirRecording."
Theexactnameoftheauthorcannotbeestablisheddefinitelyfromthiswork,ashisfullnamedoes
notappearonthetitlepagenoranywhere else.TheauthorcallshimselfinthisbookFraterLucas
deBurgoSanctiSepulehri,whichtranslatedintoEnglishmaybecalledBrotherLucasoftheCityof
theHolySepulchre. TheCityoftheHolySepulchre,orSanctiSepulehri, isacityinthenorthernpart
ofItalynearVenice.Onpage67-2,line5,ofFraterLucas'book"SummadeArithmetica,"hestates
thataboutA.D.1470hededicatedacertainbooktohisstudentsnamedBartolo,Francesco,andPaulo,
thethreesonsofaprominentmerchantofVenicenamed(Antoniode)Rompiasi.Fromotherwrit-
ingsandotherevidence,bibliographershavecometotheconclusionthroughtheirresearchesthatthe
realnameofthis"FraterLucas"wasLucasPacioli.
Thecopyrightofthebookpublishedin1494expiredin1504,andaboutthattimeareprintof
thechapteronbookkeepingappearedinToscana,underthetitleof"LaScuolaperfettadeiMercanti."
Acopyofthisreprintwasnotinthepossessionofthewriter,butitwouldappearthattherethename
oftheauthorwasgivenasFra.PaciolodiBorgoSantoSepolcro. Inotherwritingsheisknownas
Patiolus,whichissupposedtobetheLatinforPacioli.
In1509,shortlybeforehedied,hewroteabookcalled"DivinaProportione," inwhichhegivesa
forewordandreproducesseverallettershehaswritten. InthesehesignshimselfasLucasPatiolus.
ThisbookwaswritteninLatin.Onpage33-bofthisbook,insection6,treatiseNo.1,chapterNo.1.
theauthorreferstohisbookpublishedin1494inthefollowingwords:"inoperanostragrandedicta
summadearithmetica etc.impressainVenetianel1494etalMagnanimoDiicad'Urbi)wdicata."We
underscoredtheword"nostra,"whichmeans"our."
LucasPacioli,aswewillcallhimhereafter,believingthattobehispropername,wasbornabout
1445inthelittlecityofSanctiSepulehri,intheProvinceofArezzo,ofTuscany,westsouth-west of
theCityofUrbino.Hewasagreatlecturer,mathematician, writer,scholar,teacher,andtraveler,a
well-knownandfamousman,whowasthefirsttotranslateintoLatintheworksofEuclid. Succes-
sivelyhewasprofessorofmathematics atPerugia,Rome,Naples,PesaandVenice,andwaschosenfor
thefirstoccupantofaprofessor'schairfoundedbyLouisSforza.HewasinMilanwithLeonardoda
VinciattheCourtofLouistheMooruntiltheinvasionoftheFrench. Itisnotimprobablethat
LeonardodaVincihelpedPacioliinthewritingofthisworkasthereareindicationsoftwodistinct
stylesofwriting.HebelongedtotheOrderofFriarsMinorofSt.Francis. Itisapparentthathe
tooktheclothlateinlife,forprotectionandstandingneededinhismanytravelingtours,duringthe
unrestthenexistinginItaly.Hewrotehistreatiseonbookkeepingwhenhewasabout50yearsold,
anddiedneartheendoftheyear1509,attheageof65.
Itisbutnaturalthatbookkeepingshouldbealwaysinitsgreatestperfection inthosecountries
wherecommercehasreacheditshigheststage. Itiswellknownthatduringthetwelfth,thirteenth,
fourteenthandfifteenthcenturiesVenicewasapowerfulrepublic,fromwhichallEuropeancommerce
radiated,untilin1498theEastIndianoceanroutewasdiscovered,fromwhichtimeonthecommercial
powerofVenicewaned. Itissafetoassumethatthebookherereproducedfaithfullydepictsthecon-
ditionsexistingatthetimeofitswritingandtheprevailingsystemofrecordingthetransactions of
commerce. Alltheworld'scommerce,practicallyspeaking,wasconcentrated inthissmallterritory,
thereforeitssystemofbookkeepingmusthavebeenthemostperfectknownintheworldatthattime.
Theexistenceofawelladvancedsystemofbookkeepinginthecentersofcommercemusthavecaused
considerableconfusionandcorrespondence withtheplaceswheresuchasystemdidnotexist,inorder
toequalizeandsettleaccountsbetweenthemerchantsresidinginthesevariousplaces.
Itisthereforeprobablethatagreatneedexistedfortakingadvantageofthefacilitieswhichthe
newinventionsinprintingpermitted,topresenttothecommercialworldoutsideofthesecentersa
systematictreatiseofthemo.stimportantpartofcommerce,namely,therecordingofitstransactions
8

17. andresults. Paciolidoesnotclaimthatheinventeddouble-entrybookkeeping,butontheotlierhand
mentionsinhisbooktheexistenceofancientcustomsandnumerousmethodsnamedaftertheplaces
wheretheywereused.Thushecallsthemethodofbookkeepinghedescribes, tlu;metliodofVenice,
asdistinguishedfromthoseinuseinothercities,thenamesofwhichappearinthetranslationwe
havemadeofhisbook.
WhilePaeioligivesinhisbookonarithmeticandgeometrycopiousillustrations, aswillbeseen
fromthesamplepageofthatportionofthebookhereinreproduced,hedidnotgiveexamplesandillus-
trationsofthedaybook,thejournalandledger,whichhedescribes. Hisbookthereforehasnever
becomeaspopularasthoseoflaterwriterswhogivetheseexamples. Pacioli,however,wasverylengthy
andcarefulinhisminuteanddetaileddescriptionoftlievariousmethodsemployed. Thereadingof
hisbookwillbearevelationtothosewholiaveanideathatthepresenthighstateofdevelopmentof
Americancommerceshouldhaveproducedmethodsofbookkeepingunknownatsuchanearlyperiod
aswhenPacioliwrote.Theywillfindthattherethenexistedthelittlesafeguardswhicharenotde-
scribedorexplainedinpresentbooksofinstructiononbookkeeping, butwhichweaccountants are
alwayswonttopreachabouttothosebookkeeperswhocomeunderourobservation,andwhicliwedo
notpassbysimplyasmeresuggestionsbutuponwhichweinsistemphaticallywitha"Youmustdo
this." Pacioliespeciallydescribestheselittlethingswithgreatemphasis,andinastylecunninginthe
extreme,fullypunctuatedwithadagestobringthetruthhomesonoonecouldforgetit.He,however,
ontheotherhand,doesnotspendanytimeinexplainingthemodusoperandiofbookkeeping,whichwe
learnonlybypractice(asheputsit),ashedoubtlessappreciatedthathewasnotwritinghistreatise
toteachbookkeeping tothosewhodidnotknowanythingaboutit,butonlydescribingtheadvantage
oftheparticularmethodinuseinVeniceinordertoconvertmerchantstoachangefromtheirsystem
tothebestsystemthenknown.
WriterswhohavefollowedafterPaciolihavepractically allgivenfullillustrationsofthejournal
andledger,buthaveratherneglectedtoexplainthe"whys"and"wherefores" ofthelittleandvalu-
abledetailsuponwhichPaciolihaslaidsomuchstress,takingthemasmattersoffactratherthanas
fundamental principles.Asweallknow,itisthelittlethingswhichthrowthesafeguardsabouta
propersystemofbookkeeping.
Itisnotthewriter'saimtogointodetailastothehistoryofbookkeeping.Anyonedesiringto
studythissubjectinitsentirety, isreferredtothemostremarkablerecordsandresearchesofJiiger,
Kheil,andRowFogoaseditedbyBroASTi,thetitleofwhosebooksarefullydescribedinthebibliog-
raphyheretoappended.
JagerandKlieilwereprominentGrermanscholars,whomusthavedevotedanenormousamountof
timetotheirresearchesastotheoriginandgrowthofbookkeeping. Jagerwassomewhathastyand
inaccurate;Kheilissomewhatbrief,andtherefore difficulttounderstandbythosewhohavenotread
otherbooksonthesubject.BothofthesebooksarewritteninGerman.
HappilyweAmericanshavetheaidoftherecentbookwritteninScotlandbyBrownandhisasso-
ciates.Thetreatisetheypresentisexhaustive, brief,tothepoint,andexceedingly accurate, fully
illustrated,andisofimmensevaluetoeverystudentofthesubjectofaccountancy.
Thewriterdoesnotwishtoduplicatetheworkofanyofthesethree,butbythepresentvolumehe
desirestoemphasizethefactthatPacioli'sworkistherealfoundationofallbookspublishedinGer-
many,Holland,France,andEnglandwithinthefirsthundredyearsafteritwaswritten.Wewilldo
nothingmorethandescribetheeffectofPaeioli'sbookonManzoniandPietrawhichappearedin
Italian,Gotlieb,Schweieker,andGoes,sens,whichappearedinGerman,YmpynandStevininDutch,
YmpyninFrench,andYmpyn,Oldcastle,Mellis,andDafforneinEnglish,asthesebooksundoubtedly
havebeenthebasisforsubsequentworksinthesevariouslanguages,mostofwhichareatpresent
availableforcomparisonandstudy.Thetitlesofothercontemporarybookscanbefoundinthebibli-
ographyofMr.Brown'swork,forhegivesanexhaustive listofover150bookswrittenonthissubject
betweenPacioli'stimeandthebeginningofthenineteenthcentury.Ofthese,50werewrittenpriorto
thepublicationofDafforne's"TheMerchants'Mirrour" in1636,which isreallythefirstpopular
Englishwork.Mostofthese50werewintteninItalian,Dutch,orGerman,withthehonorsabout
evenlydivided.
Aswehavesaid,LucasPacioli'sbookappearedinVenicein1494,withaten-yearcopyright.At
theexpirationofthatperiod,orin1504,thesameprinterspublishedanexactduplicateofthisbook,
underadifferent title.Twenty-oneyearsafterthelastdate,orin1525,thereappearedinVeniceavery
luisatisfactoryandincompleteworkonbookkeepingbyGiovanniAntonioTagliente,ofwhichthehis-
toriansdonotsaymuch.
FortyyearsafterPacioli'sbookof1494,orintheyear1534,DomenicoManzonipublishedinVenice
hisbookonbookkeeping,whichprovedverypopular,asduringaperiodof40yearsitwentthrough
sixorseveneditions,whichmaybetermedatremendous success,consideringtheconditionsofthose
times.
ManzonidedicatedhisbooktoAlouisiusVallaressus,arichbrotherofafriendofhisnamedPetrus.
Itseemsapparentfromhisprefacethathecommencedthebookyearsbeforeitwaspublished,whenall
three(theauthor,hisfriend,andthelatter'srichbrother)weregoingtoschoolinVenice. Inthe
titlehementions"themethodofVenice,"buthedoesnottellanywherehoworwherehegainedhis
knowledgeanddoesnotgiveLucasPaciolianymentionorcredit.
Manzoniwroteindialect,orwhatiscalled"patois."Hesaysinhisprefacethatheisnota
scholarandcannotuseflowerylanguagebutonlythespeechofhisinother,whichhelearnedbyword

18. ofmouth.Hestatestoothatheisapoorman.Inthosedaysonlytheveryrichandtheclergycould
attendschools.Thepoorwereusuallyartisans,learningtheirtradefromtheirparents.
Manzoni'sbookmaybetermedarevisedreprintofPaeioli.Pageafterpageisidenticalandword
forword,andtheremainder ismerelyshornofthereligiousexpressions, adages,andpeculiarrepeti-
tionswhichPaeiolisofreelyindulgedin.MuchofvalueandmanyofthedetailsgiveninPaeioli'sbook
arehereomitted.
Thisbookisdividedintotwoparts,oneforthetextandtheotherforexamplesofjournaland
ledger.Whilethetextcoversbut12ofthe36chaptersofPaeioli,thetwopartscombinedmaybesaid
toreproduceabout18chaptersofPaeioli.Atthebeginningofthewriter'stranslation ofPaeioli's
l)ookherein,acomparativeindexisgiven,whichillustratesjusthowmuchofPaeioli'sbookManzoni
copiedandwhatheleftout.TheonlynewideainhisbookascomparedwiththatofPaeioli, isthe
consecutivenumberingofthejournalentries. Insomerespects,however,Manzoni isclearerthan
Paeioli,asforinstance,hegivesdefiniterulesforthemakingofjournalentries ;tabulatessixthingsor
mattersofinformationalwayscontainedineveryjournalentry;describestheformofjournalbetter
bymentioning five"standing"or"down"lines;explainstheuseofmorethanonedaybook ;andgives
achaptertotheapparenttranspositionoftheterms"A"(our"To")and"Per"(our"By")inthe
ledgerfromitscustomaryuseinthejournal.
jManzonigivesfullillustrationsofthejournalandledger,withitsentries,whichPaeioli,forrea-
sonsstated,didnotdeemnecessary. Theadditionoftheseillustrationsofcoursehasmadethebook
morepopular,andj\Ianzoni,whileaplagiaristinotherrespects,mustbegiventhecreditofhaving
reallybeenthefirsttodothis.ThewriterregretsthatManzoni'sbookisnotaccessibletohimforon
thataccountonlyonereproductioncanherebegiven,namely,thelastpageofthejournal,whichis
takenfromBrown'shistoryofaccounting.
In1586,nearly100yearsafterPaeioliwrote,wefindthatDonAngeloPietrapublishedaworkon
bookkeeping fullyillustratedwithnumerousexamples. ThebookwasprintedinMantuabyFranz
Osanna. Pietrawasamonk,borninGenoa,stationedattheMonasteryofMonteCassino,Neapel,
ProvinceofCaserta,nearSora.Hewastheauditor,storekeeper,andcellarerofthatmonastery.He
belongedtotheOrderofSt.Benedict,anddedicatedhisbooktoLastanciusFacius,theabbotofthe
BenedictinemonasteryatMantua. Pietra'sstyleisveryclearandconcise,andhisbookcontainssome
60shortbutpithychapters.Aswillbeseenfromthecomparative indexheretoforementioned,and
givenfartheroninthisbook,PietrahadforhisguidethebooksofbothPaeioliandManzoni,forhe
coveredmatterswhichPaeiolidid,andalsotheitemswhichwehavejustseenManzonimentionedin
hisbookbutwhichwedonotfindinPaeioli. Especially isthistrueintheenumeration oftheitems
whichalwaysmustappearinajournalentry.PietrausesManzoni'ssixitemsinthesameorder,but
addstheretotwoothers.Healsogivesthedefiniterulesformakingjournalentries,mentionsthetrans-
positionof"A"and"Per,"thefivestandinglinesinthejournal,andenumeratesseveraldaybooks.
Hegivesfurthersome30additionalitemswhichneitherManzoninorPaeiolimentions. Jagerdoesnot
speakveryhighlyofPietra,butitseemstothewriterthatPietrawasaningeniousman,fullyaswell
educatedasPaeioli,andagooddealmoreexperiencedinthenecessitiesrequiredofabookkeeper.He
recommendsseveralinnovations,prominentamongwhichisdoubleentrybookkeepingforthosewhoare
notinbusinessforprofitbutarecapitalistsorassociations notorganizedforthemakingofprofits,
whichwemightcalleleemosynary corporations. Forthispurposehedescribesthreedifferentledgers,
oneformerchants,oneforbankers,andoneforcapitalistsandthosesimilarlysituated.Hecallsthe
ledgerforthecapitalist"economicledger."
UnlikePaeioliandManzoni,Pietradoesnotbeginwithaninventory,butwithaproprietorship
account.Heisexceedinglycarefulinthetakingofhisinventory,andgivesinhisbookalargefolded
insertcontainingatabularinventory.Hegivesatabulationofentriesfortheledgerwhichdonot
havetogothroughthejournal(suchasclosingentries).Headvocatesthevouchering ofdisburse-
ments.Heminutelyexplainsthatexpenseaccountscanshowtwobalances,andthattheycanshowa
profitaswellasabalancetobecarriedforwardinthenatureofaninventory. Thedetailofsome30
itemswhichhementionsinhisbookandwhichneitherManzoninorPaeiolidescribes,wegivefarther
on,bythesideofthereproductionofsomeofthepagesofPietra'sbook.
In1632thereappearedinBolognaaworkonbookkeepingwrittenbyMatteoMainardi. Thisbook
isofafarlaterdatethantheonesheretoforementioned,butitissomewhatremarkable inthatitat-
temptstodescribe,besidesthesystemforthemerchants,oneforthekeepingofexecutor'sandtrus-
tee'saccounts. Inmanyrespectsthisbookcomparesfavorably witlithatofPietra,andMainardi
undoubtedlyhadallthethreebooksjustdescribedathiscommand. Inthereproductions herein,we
aregivingonlythetitle,thepreface,andtwopagesofthejournal,thelastforthepurposeofindicat-
ingthemethodtheninuseofshowingjournalentrieswithmorethanonedebitormorethanonecredit,
andtoindicatefurtherthatbookkeepingmadefargreaterprogressinHollandthaninItaly,aswillbe
apparentfromthediscussionofSimonStevin'sbookpublishedin1604.
WewillnowpasstotheGermanauthors.WehavementionedbeforethatVeniceandotherplaces
inthenorthernpartofItalywerethecentersofcommercefromwhichthedistributionofmerchandise
wasmadetotheinland.ThenearestcommercialcityoftheinlandknowninthosedayswasNurem-
berg,anditisthereforebutnaturalthatweshouldfindtherethefirstworkonbookkeepingpublishedin
theGermanlanguage. TheauthorwasJohannGotlieb,andthebookwaspublishedinNurembergin
1531,threeyearsbeforeManzoni,thesecondItalianwriter,publishedhisbook.Theauthorstates
franklythathehastranslatedhisworkfromthe"Welsh,"meaningbythisterm"Italian." His
bookisconsideredabriefandverypoorcopyofPaeioli.
10

19. Gotlieb'sbook,however, isnotthefirstthatweknowofinGermauy. HeurifusUranuiiateus,who
calledhimselfinGermanHeinriehSchreiber,livedforalongwhileinViennaandtherewrotein1518
abookcalled"Rechenbiichlin, Kiinstlich,behendluidgewissaufalle,Kauffmanschafft gerichtet"con-
tainingmostlyatextonarithmetic,butdevotingsomepagestothedescriptionofaverypoorsystemof
bookkeeping,whichbyastretchoftheimaginationmaybeidentifiedaspossiblycoveringdouble-entry
bookkeeping. ThisworkwasprintedinErfurtin1523,andinFrankfurtin1572.
AfterGotlieb'sbookwefindonepublishedin1549atNurembergentitled"ZwifachBuchhalten,"
byWolfgangSehweicker. Thisworkcannotbecalledexcellent,norisitasexhaustiveorasgoodas
thatofeitherPacioliorManzoni,butthereisnodoubttliathehadbothofthesebooksathiscommand,
andespeciallyfollowedManzoni.ThethreeGermanbooksthusfarmentionedwereundoubtedlynot
goodenoughtohavebecomestandards,andtheyhaveexertedlittleinfiueneeontiiemethodsofbook-
keepingusedsincetheninGermany.
Thefirstwriterwhowasabletoleaveanimpressionwhich islastingtothisdaywasPasschier
Goessens,aDutchmanfromBrussels.Hewrote,in1594,atHamburgwherehewasthenliving,abook
onbookkeeping. Goessensstatesveryplainlyinhisprefacewherehehadlearned tlieartandthe
titleindicatesthathefollowedtheItaliansystem.Heobtained hisinformationfromsomeofthe
earlierDutchwritings,whichwewillsoonmention.Germanbookkeepers therefore,havebenefited
morebytheknowledgewhichtheDutchimpartedtothemthanbythatwhichtheirowncountrymen
broughtdirectfromItaly.
Nextinimportanceandperiodoftime,wecometotheinfluenceoftheDutchwritersontheGer-
man,French,andEnglishsubsequentauthorsonthesubjectofbookkeeping. TheDutchforcenturies
controlledthesupremacyoftheseas,astheyweregreatship-buildersandnavigators. Theywereex-
cellent,carefulandhonesttradesmen,andtheirtradewassoughtfarandwide.YettheItaliancities,
throughtheirancientrelationwiththeeasternnations,hadbecometheworld'sleadersincommerce
andtheDutchpeoplewerethereforeforcedtotradewiththeseItalianrepublicsuntilthediscoveryin
1498ofanall-oceanroutetotheeasterncountries. Thereafterthecenterofcommercewasshifted
fromVeniceanditssurroundingrepublicstoHolland.AstheDutchweresuchtravelersonwater,
theynaturallysenttheiryoungmenbywatertothetradecenters,foreducationandtraining,andin
thiswaytheknowledgeofcommercealsoshiftedfromVenicetotheDutchcountries.
JanYmpynChristoffelswasoneoftheDutchmerchantswhovisitedVeniceandthenorthernpart
ofItalyandheremainedtherefortwelveyears.Hereturnedevidentlywiseintheknowledgeofthe
keepingofbooksaccordingtotheItalianmannerandwroteabookonthatsubject.Hedidnot,how-
ever,livetoseehisbookpublished,buthiswidowAnnaSwinterspublished hismanuscripts inthe
DutchandFrenchlanguagesduringtlieyear1543.OftheDutcheditionthereseemstobebutone
copyinexistence,whichisintheCityLibraryatAntwerp.TheFrenchwork,however,canbepur-
chased.ThediscoverybyHugoBalgofanEnglishcopyofthisbookinaRu.ssianlibrarywasreported
bytheGermanscholarKheil,although itwassomutilatedthatthenameoftheauthordoesnotremain,
andtheexactdateofitspublication isnotknown.However,fromthesimilarityofthecontentsKheil
establishedtheauthorshipofthisbook.ThewidowofJanYmpynChristoffels (betterknownasJan
Ympyn),saysverydistinctlyintheprefaceoftheDutchbookthatitwaswrittenbyherhusbandand
thatshemerelypublished it,whichstatementwouldindicatethattheEnglishbookwaswrittenpriorto
1543.Theillustrations inthebookbeardateof1536and1537.
YmpynclaimstohaveobtainedhisknowledgeinItaly,andsaysheusedItalianbooksforthefoun-
dationofhiswork.Hegivescredit,however,indirectlytoapersonwhohasneverbeenknownasan
authoronbookkeeping,andhistoriansratherindicatethatthispersonwasmerelyanexcellentbook-
keeperfromwhomhegainedconsiderableknowledge.Hementions,however,verydistinctlythebook
ofLucasPacioli,althoughhecallshimBrotherLucasdeBargo.WefindLucasPacioli'snamethus
quotedinalargenumberofbookssubsequentlypublished,fromwhichwemayinferthatYmpyn's
workwaswellknownandusedbyagoodmanywriters,becausefromnoothersourcecouldtheyhave
obtainedthisfaultyversionofPacioli'sname.
ThenextimportantwriterintheDutchlanguagewasSimonStevin,whowroteinLatinal)ookon
matiiematics,whichwaspublishedinLeijdenin1608,inwhichheincludesseveralchaptersonbook-
keeping. ThesewereareproductionofabookpublishedintheDutchlanguageon"bookkeeping for
merchantsandforprincelygovernments,"whichappearedinAmsterdam in1604,andwasrewritten
inTheHaguein1607intheformofaletteraddressed toMaximiliaendeBethune,DukeofSculley.
ThisDukewassuperintendent offinanceofFrance,andhadnumerousotherimposing titles.Hehad
beenverysuccessfulinrehabilitating thefinancesofFrance,andStevin,knowinghimthroughPrince
MauritsofOrange,wasveryanxioustoacquainthimwiththesystemwhichliehadinstalledandwhich
hadprovensosuccessful. Thismanuscriptof1607waspublishedinbookforml)yStevin'ssonHend-
rick"inthesecondyearoftheDutchPeace"ofMunster(1648),whichendedtheeightyyearwarwith
Spain;thiswouldmakethedateofpublication1650.HendrickStevindedicatedthebooktothesisterof
thedeceasedPrinceMaurits,expressingthehopethatshemaycontinuewiththesystemofmunicipal
bookkeepingwhichhadmadeherbrother'sstewardship oftheaffairsofgovernment sosuccessful.
Stevin'sbookbecomesveryimportanttoAmericans,becausehemateriallyinfluencedtheviewsofhis
friendRichardDafforne,whothroughhisbook"TheMerchants'Mirrour,"publishedin1636,became
practicallytheEnglishguideandpioneerwriteroftextsonbookkeeping.
SimonStevin,whowasborninBrugesnearAntwerpin1548,anddiedinTheHaguein1620,wasa
traveler,author,mathematician, engineer,andinventor,ahighlyeducatedmanwhothoughtbookkeep-
ingimportantenoughtoinducePrinceMauritsofOrange,thethengovernoroftheDutchcountries,to
11

20. installdouble-entrybookkeepingthroughout histerritory,thuspracticallyputtingmunicipalaccounting
onthedouble-entry system,theverythingwearetodayaftermorethanthreehundredyearssighing
for.Stevinwrotepartofthetextofhisbookintlieformofadialogue,consistingofquestionsand
answers,whichhesaysactuallyoccurredintheargumentshehadwhileteachingPrinceMauritsthe
artofbookkeeping.
SimonStevinservedhisapprenticeship inamercantile officeinAntwerp,wherehelearnedbook-
keeping. Afterthatheheldimportantpublicoffices,suchasquarter-master-general, surveyoroftaxes
ofBrugesand,underPrinceMauritswasministeroffinancesandchiefinspectorofpublicworks.
Therehedisplayedsuchinventiveingenuityinengineeringthathemaybesaidtohavebeenthefounder
ofmodernengineering. Hisdiscoverieswereindynamicsandhydrostatics,andamonghismanyother
inventionsmaybementionedanimportantimprovement tothecanallocks.Hewasthefirsttobring
intopracticalusedecimalfractions. Hisworksonengineeringandfortificationshaveremainedstan-
dardsuntilthelastdecadeortwo.
Stevinwasaprolificwriteronmanyvariedsubjects.Amongotherthings,hewroteabouttheart
ofwaronlandaswellasonsea,abouttheconstruction ofbuildings,residences,andfortifications, the
improvement ofcitiesandagriculturallands,aboutwatermills,canals,theartofsinging,theartof
oratory,rhetoric,mathematics, geometry,andabouttheweighingofmetalsandalloysthroughthe
differenceinweightabovewaterandunderwater.
ThewriterwouldconsiderStevintobeoneofthefirstmenofwhomwehavearecordasperform-
ingdutiesequaltothoseofamodernaccountant.Wehaveseenthathisregularworkwasthatof
superintendent offinance(secretaryofthetreasury)andchiefengineeroffortificationsandpublic
buildingsofHolland,besidesbeingtutorandadvisertoPrinceMauritsofOrange. Inadditiontoall
ofthis,hewascontinuallycalledintosettledisputesbetweenpartners,auditednumerousmercantile
booksanddrewtherefromfinancialstatements,madeuppartnershipbookstoobtaintheirsettlements,
installedsystemsinalldepartmentsofgovernment, inmercantilehouses,royalhouseholds,municipal-
ities,forconstruction ofspecificfortificationsandpublicbuildings,traveledtoEngland,Prance,Ger-
many,Italy,DenmarkandBelgium,inordertoappearbeforecourtstogivetestimonyinthesettlement
offinancialaffairs,andperformednumerousotherdutiesofanaccountant,whichwemayinferfrom
hisremarksthroughouthisbook.
Jager,Kheil,andRowFogothroughBrownridiculetoaconsiderable extenttheoldwriterson
bookkeeping, insteadofdescribingtheworthythingsaboutthemandmarvelingattheiraccuracyand
ingenuity. EspeciallydotheyharangueaboutStevin'sLatin,butoverlookentirelythemanyworthy
suggestionsfromStevin'sinventivegenius.
InBrown'sbookonthehistoryofaccountingStevin'streatiseonmercantilebookkeeping ishighly
spokenofbutStevinisridiculedforhisendeavortoputmunicipalaccountingonthedouble-entry sys-
tem.WefeelthistobeaninjusticetoStevin,forthereasonthatwhilehisdescriptionsonmiinicipal
accountingmayatfirstblushappeartobefaulty,welearnfromthedescriptionsandillustrationshe
givesofmercantilebookkeepingthathewasexceedingly briefbutaccurate,andthatthereforeinthe
textweshouldtakemuchforgranted.
Stevindidnotfullyillustratemunicipalaccounting,forthreereasons :firstofalltheofficialswho
weretousethesystemheinstalledreceivedregularorderswithformsattachedfromheadquarters;
thereforehisbookwasnotafullexpositionofalltheseorderswiththeirforms,butwasmerelyare-
viewoftheentiresystem. Secondly, (ashestates)hewaswritinganargumentinfavorofhissystem
tothoseofficialswhowereforcedtouseitandmighthesitatetosupport itloyally. Thishedidinan
authoritativemanner,byquotingcontinuallythefriendlyandcloseassociationhehadwiththePrince,
whichofcoursehecouldnotmakeuseofinhisofficialorders.Thusheputpoweranddignitybehind
hisorders. Thirdly,hefullyillustratedmercantileaccountingandinsistedontheemploymentonlyof
clerkswhowerewellversedintheartofbookkeepingaccordingtotheItalianmethod. Afterillus-
tratingmercantileaccountingthoroughly,hethensimplydescribesthedifferencebetweenthetwosys-
tems,which(hereiterates) ishisonlyaim.Hegiveseightpagesofjournalandfortypagesofledger
onmunicipalaccounting,althoughtheycontainonlyopeningandnotclosingentries.Thelatterhe
explainsfullyinhistextbystatingdeviationsfromthesystemusedbymerchants.
YetapparentlyStevin'streatiseonmunicipalaccounting isjudgedonlybytheabsenceofillustra-
tions,butnocredit isgivenhimfortheingenious deviceshementionsandwhichwenowcall
internalchecks.Brownevidentlyhadnotreadmuchofthetext,norhisson'ssubsequentbookand
notes,whichaswehaveseenheretoforewerepublishedin1650,atwhichtimehissonstatesthatwhile
somedefectswerefoundintheprevioustreatise,thesystemhadsurviveduntilthatdayandhadbeen
improvedupon,hedescribingsuchimprovements inadditiontoreproducinghisfather'sworks.
Stevinwasveryingeniousinprescribingmethodsforwhatwenowarewonttocall"internal
checks."Forinstance,inordertocheckthepayrollofthesoldiersandotherpublicofficials,hede-
mandedthatthepayrollbesentdirecttotheauditors(andhecallsthemauditeurs,theFrenchfor
auditors),andtheninsistedthatthecookatthemess-housewhereallthesoldiersandofficialswere
beingfed,shouldreportindependently totheauditorsthenumberofmealsserved.
Anotherinternalcheckwhichhesuggestedinordertostopthemakingoferrorsandthestealing
inthecollectionoftaxesandrents,wastomakethesub-treasurer's reporttothegeneraltreasurereach
monthofnotonlythecashreceiptsanddisbursementsbutthepersonsremainingdelinquentintheirpay-
ments.Afterthereporteddelinquentsremainedsoforthreemonths,hesuggestedthesendingofthe
sheriffbythegeneralti'easurer(notthesub-treasurers) tosellthepropertyofthedelinquenttax-payer
12

21. ortocollectfromhimabond.Heexplainsthatthusyoucanforcethetax-payertodemandareceipt
fromthesub-treasurerwhenpaying,anddisplay ittothesheriff,andtiiusgetevidenceagainsttlicsub-
treasurerofstealing.
Towards tlieendofthisbookwearereproducingStevin'sjournalandledger,andappendedthere-
towehavegivensomefurtherremarksdescribingthesuperioritiesofStevin'swork,whichwillprove
interestingreading. StevinundoubtedlyfollowedYmpyn,whointurnaswehaveseen,obtainedhis
knowledgefromPaeioli.
Uptothisdatethen,wehave,besidesgeneralmercantilebooks,recordsofspecificsystemsofbook-
keepingformerchants,branchstores,travelingsalesmen,partnerships, householdaccounts,bankers,
capitalists,monasteries, executors,andmunicipalities, aswewillseefromthespecialtiesenumerated
bythesewriters.
WenextwillmakeasurveyofhowtheknowledgeofbookkeepingcametoEngland,whenceitprob-
ablycametoAmerica.
AVefindthataschoolteacherbythenameofJohnMelliswroteinLondonin1588abookonbook-
keeping,whichinhisprefacehestatestobeareprintofabookbyHughOldcastle,whiciiMellissays
appearedinLondonin1543underthetitleof"AprofitabletreatycecalledtheInstrumentorBoketo
learnetoknowethegoodorderofthekepyingofthefamousereconynge calledinLatynDareand
HabereandinEnglysheDebitorandCreditor."Nocopyexistsasfarasisknownofthisbookof
Oldcastle,anditisnotthereforeanabsolutecertaintythatiteverexisted. Itmighthavebeenaman-
uscriptonly,andagain,thedatemaynotbereliable. Itmayalsobethatthebookwaswrittenbysome
oneelse,andgiventoJohnMellisbyHughOldcastle. ItmaythereforehavebeenJanYmpyn'sbookin
English,especiallyasthedatesaresoclosetogether.Howeverthismaybe,Mellis'sbook isnothing
morethanatranslationofPaeioli'sbook,andMellisstatesthathehadtraveledandstudiedinthe
Dutchcountry.Browninhishistorj^ofaccountingopenlysaysthateveryEnglishwriteronaccounting
intheearlydaysgainedhisknowledgefromtheDutch,becauseHollandwasthetrainingschoolfor
Englishmerchants,andhegivesnumerousinstancestosupporthisstatement.
AnyonedoubtingthatMellis'sbookisatranslationofPaeioli,shouldcompareMellis'sdescrip-
tionofthecheckingoftheledger,asquotedbyBrown,withourtranslationofthissamesubjectin
Paeioli'sbook.ThatMellisisundoubtedlyacopyofPaeioli,appearsfromanerrorhemadeinrefer-
ringinoneofhischapterstoachapterpreviouslymentioned,namingitchapter15,th(!sameasPaeioli
statedinhischapter16,butasMellisleftoutchapter5ofPaeioli,containingashortintroduction,and
alsochapter7aboutthecertificationofbooksbynotaries,Mellis'schapter14isthesameasPaeioli's
16,andMellis'schapter13isthesameasPaeioli's15;yetMellismakesreferencetochapter15thesame
asPaeioli,insteadofusingchapter13.ThediscoveryofthiserrorismentionedinBrown'shistoryof
accounting.
Nextinimportance,andthelastbookwewillmentioninoursurvey,is"TheMerchants'Mirrour,"
byRichardDafforne. DaffornesaysthatinGermany,ItalyandHolland,therehadexistedagreat
manyablewritersonbookkeeping,andhegivesalargelistofauthors.Heattributestheexistenceof
thesebookstothedemand,statingthattherewouldnotbeasupplyunlesstherewasademand.He
verymuchdeploresthefactthatsuchademanddidnotexistinEngland,neverthelesshecontributes
hisbook,whichisundoubtedlyaveryabletreatise.HeevenspeaksofhisacquaintancewithSimon
Stevin,andhewriteshisbookonthesameorderasStevin,namely,indialoguestyle,orquestionsand
answers. Dafforne'sbookwaspublishedinLondonforthefirsttimein1636,andappearedafterwards
in1651,1660,and1684.LaterEnglishwritershavefollowedDafforneandMellis. Therefore,direct-
lyandindirectly,PaeiolithroughtheDutch,haslaidthefoundationofourpresentaccounting litera-
tureandourpresentknowledgeofbookkeeping.
WearereproducingmostofthetextofDafforne'sbookandafewpagesfromthedaybook,journal
andledger.AnyonedoubtingthatDaffornefollowedSimonStevinandotherDutchwritersonbookkeep-
ingwillbeconvincedbyreadinghistext.Numei'ousquotationsaremadefromtheseandotherDutch
authorsthroughoutthetextandeveninthetitlepage.Inoneplaceanabstractfromthebibleisren-
deredintheDutchlanguage. FurtherDaffornestatesthathereceivedhisknowledgeandideasinHol-
landandthatpartoftheillustrationsandtextwaswritteninHolland.ThementioningofsomanyDutch
customsandDutchnamesintheledgeraccountsshowsthathehimselfsuccumbed towhathefeared:
"TheybeingthenatRome,willdoasthereisdone."
"Whilewehavedescribedthusfartheoldesttextbooksinexistenceonthesubjectofbookkeeping,
therecordsofbooksofaccountpredatetheseconsiderably,andforfurtherinformationonthissubject
wecandonobetterthanreferyoutoBrown'shistoryofaccounting,wherenotonlydetailisgivenbut
wherealsoconvincing illustrations arerepi'oduced. However,thepurposeofpresentingtothereader
acorrectideaofwhatwasdoneinthisline,wemii^litstatethatthebooksofthestewardofthecityof
Genoain1340werekeptonthedouble-entry principle. TheoldestmercantileledgeratVeniceisdated
1460,andisthatofthefirmofDonadoSoranzo&Brothers. Thisledgerhasaprofit&lossandacapital
account. Specimensofthisledgerarereproduced inBrown'shistoryofaccountingonpages99to106,
andwillgreatlyhelpthereadertounderstandPaeioli'sinstructions, inrespecttotheyear,theRoman
figuresinthemoneycolumn,andtheArabicfiguresforthesmallestcoinorPicioli,etc.
13

22. DISCURSIONINTHEORY
Wefindinthetranslationsoftheoldtreatisesonbookkeeping thetermsdebit,credit,inventory,
journal,cash,capital,balance,per(modernbjO,a(modernto),assets,liabilities, etc.,andadefinition
ofeachofthesewiththeiruseintheoldentimesshouldproveofinterest.
OurworddebitisputinItalianas''debito'',whichcomesfromtheoldLatindebitaanddebeo,
whichinbusinessandfromthestandpointoftheproprietormeans"owe"or"heowestothepro-
prietor,"thatwhichwasloanedorgivenhimbytheproprietor. (Theoldauthorsdonotuseitinledger
accounts.)
OurwordcreditisputinItalianas''credito,"comingfromtheoldLatinword''credo,"which
means"trustorbelieve,"asinbusinessourcreditorswere"believers" intheintegritj'ofthepro-
prietor,andthereforeloanedorgavehimsomething. Therefore,fromtheproprietor'spointofview,
tliewordshouldbetranslatedasthecreditor"isowedbytheproprietor," thatwhichwasloanedor
giventotheproprietor. (Theoldauthorsdonotuseitinledgeraccounts.)
InventoryinItalian,''inventario,"comesfromtheLatin"invenio,"whichmeanst«findoutor
discover.
JournalinItalian"giornal"comesfromtheLatin"diurnalis"whichmeansdailyhappenings or
diurnal.
LedgercomesfromtheDutch''Legger"meaning"toliedown"andwasoriginatedprobablyfrom
thenecessitythattheledger,whichwascalledthebigbook,becamesolargeandcumbersome thatit
remained,orwaslying,alwaysinoneplace.
CashinItalian,"cassa,"comesfromeaseorbox,whichisthesameastheItalianborsciafromthe
Latinbursaorpurse.
Capital,whichismentioned inItalianas"Cavidalc,"comesfromtheoldLatin"capitalis,"which
means"chief"or"head,"andalsofromtheLatin"capitali,"whichmeansproperty.Thuscapital
wouldmean"thepropertyofthechief," i.e.,proprietorship.
Astotheword"balance,"thefollowingwillindicateitsmeaning.Acleardistinction ismadeby
theoldwritersbetween(1)thedifferenceinanaccountbetweenthedebitamountsandthecredit
amounts,(2)thereasonforenteringthisdifferenceintheaccount,and(3)thestatusoftheaccount
afterequalizingbothsidesbythemakingofanentrj'andclosingtheaccount.Weterm allthree
balancesandbalancing,whiletwoaredistinctlyopposite. InItaliantheycallthedifferenceorthe
remainder,"resto,"andsaytheyhaveenteredthisremainderinordertoclose(saldo),andthenthey
statethattheaccountisinbalance(bilancw).
Astotheterms"By"and"To,"Manzonisays,asdoesPacioli,thatinthejournalentriestheword
"Per"denotesthedebtorandalwaysprecedes it.andthat"A"denotesthecreditor.
Manzonithengoesontopointoutthattheprevailingsystem(whichPaciolidescribes) inhistime
wastouse"Per"only(andnot"A")asfarasitrelatestotheledger.Hecallsitamisusewhich
expertsdonotcondone,andinhisexamplesofledgerentriesheusesinthedebitofthedebtor'sac-
count"A"becausethenamefollowing itmustofnecessitybethenameofthecreditorand,as"A"
denotesthecreditor,soitmusthereprecedethenameofthecreditor,aswellasinthejournal,inspite
ofthefactthatitiswrittenonthedebitsideoftheledger. Likewiseheputsonthecreditside"Per"
infrontofthenameofthedebtor. Stevin,asexplained,followsPacioli.
Untiltheveryrecentpresentdayweusedintheledger"To"onthedebitsideasaprefixtothe
nameofthecreditorand"By"onthecreditsideasaprefixtothenameofthedebtor.
ItisdifficulttosaywhetherwecantranslatetheItalian"Per"intoour"By"andtheItalian
"A"intoour"To,"asthesetwoexpressionsorwordscanbetranslated inmanydifferentwaysac-
cordingtothenounorverbfollowingorpreceding it,togetherwiththeconsideration ofthetenseand
easeused.
If,however,wetakealiteraltranslationoftheItalianledgerheadingusedforourdebit,or"dee
dare,"wecometo"shallgive."Puttingthisintoasentencereadfromaledgerwehaveasatthe
presenttime,"JohnDoedebittoRichardRoe"andintheoldItalian,"JohnDoedeedare(shallgive)
A(To)RichardRoe,"andastothecredit,wehaveinourpresentday"RichardRoecreditbyJohn
Doe,"andintheoldItalian,"RichardDoedeehavere(shallhaveorreceive)Per(bythehandof)
JohnDoe."
Ourver.sion,therefore, isthattodaywefollowManzoniratherthanPacioliandStevinintliis
respect.
Astothejournal,theoldnecessityforbeingparticularindesignatingandseparatingthedebtor
fromthecreditorbyPerandAandthemuchcommenteduponlittlediagonal lines(//),hasbeen
obviatedthroughtheuseoftwocolumnsinthejournal—oneforthedebitamount,theotherforthe
creditamount—andbytheuseoftwolinesofwritingandbycarefulindentation. Thus,whilewedo
notusetheoldexpressions(PerandA)inthejournal,wearemorecarefulandsystematicinseparat-
ingdebitsfromcreditsthantheoldauthorswere.
Itwouldbeinterestingtolearnwhenandwhereandunderwhatcircumstancesandconditionsthe
doublecolumninthejournaloriginated.Promthefactthatatrialbalance,withtotaldebitsandtotal
creditsinsteadofdifferencesbetweendebitsandcredits,iscalledaFrenchtrialbalance,wemightinfer
14

23. thatthatsystemorigiuatedinFrancebecauseaFreuclitrialbalanceisbaseduponthesystemthatall
entriesarejournalizedandthetotaldebitsandthetotalcreditsofthejournalareaddedtothetotal
debitsandcreditsoftheprevioustrialbalanceinordertoarriveatthetotalswhichthepresenttrial
balanceshouldshow.Suchatrialbalancemakesanabsolutenecessityforthehavingoftwocolumns
inthejournal.
Stevinexplainsdebitandcreditasfollows
:
"GenomendatymantmetnaemPieter,myschuldichvvesende,doetdaeropbetalingvan100L:
Eniek 'tgeltineeneasseleggende,alofictheurtebevvarengave,seghdatdiecassemy'tselvegelt
schuldich is,vvaerdeuriekhaeralofteenmenschvvaer,debiteurmake,enPietercrediteur,omdathy
synschultverniindert,stellendeintlornael 'tbeginderpartiealdus,'CassedebetperPieter'."
Theabovetranslatedwouldbeaboutasfollows
-.
"SupposethatsomeonebythenameofPeterowedmesomemoney,onaccountofwhichhepaidme
£100,andIputthemoneyinacashdrawerjustasifIgiveitthemoneyforsafekeeping. 1thensay
thatthateaslidrawerowesmethatmoney,forwhichreason(justasifitwereahumanbeing) Imade
itadebtorandPeterofcoursebecomesacreditorbecausehereduceshisdebittomo.This 1putin
theJournalthus:'CashDebitPerPeter'."
FromtheabovetranslationofthepreviousDutchquotation itwouldseemthatthejournalentry
shownisratherahastyconclusion. Theentry,inordertofollowhisexplanations,shouldhavebeen
adoubleentrysomewhatasfollows :CashDebittoilyself—ProprietorCredit—forthemoneyIgave
thecashdrawerforsafekeeping.Tobefollowedby :MyselfDebittoPeterCredit—hegavememoney
whichImayhavetoreturntohimifhedoesnotoweittome.
Asmostoftheentries,ifmadeinthisformwouldhavebothadebitandacredittotheproprietor
forthesameamount,thesearesimplyomitted.
Ifweeliminateonbothsides,accordingtoalgebraicformulae,theword"myself,"wethenhave
abbreviatedthetwoentriestoarealalgebraicterm,namely,"CashDebittoPeter."Thuswehave
condensedtwoentriesofthoughttooneentrywrittendown,verymuchthesameasinalgebraa=b
;
b=c;hencea=:c.InmanyoftheoldDutchbooksStevin'sideaofatwofolddoubleentryismen-
tioned,andisbroughtdowntothepresentday,whichaccountsfortheexistenceofaclearideaonthis
principleinHollandandinmodernDutchbooksonbookkeeping (seeN.Brenkman, 1880,Theoryof
Double-EntryBookkeeping).
Itmustbeadmittedthatifwetodaywouldabolishtheuseofthewordsdebitandcreditinthe
ledgerandsubstitutetherefortheancienttermsof"shallgive"and"shallliave"or"shallreceive,"
thepersonification ofaccountsintheproperwaywouldnotbedifficultand,withit,bookkeepingwould
becomemoreintelligenttotheproprietor,thelayman,andthestudent.
ElsewherewehaveseenthatStevininsistsupontestingwhenajournalentryindet)itandcredit
mustbemadebyaskingthequestion,"Whendoesproprietorshipbegin"or"Whendoesproprietorship
end,"fromwhichitisapparentthatproprietorship mustenterintheconsideration ofeachentryand,
ifitisnotthere,itissimplyeliminatedbytherulesofalgebra. This,ofcourse,wouldatonceleadto
thepersonification ofthecapitalandprofitorlossaccountsinto"theproprietor" asdifferentiated
from"thebusiness,"andwouldthenimmediatelyshowthefallacj-ofthestatementthatcapitaland
surplusareliabilities,aswellasoftheabsurdtheorythatassetsmustequalliabilities.
ThefollowingtranslationofthedialoguebetweenSimonStevinandthePrinceMauritsofOrange
onthissubjectfullyillustratesthatStevinthenunderstoodhissubjectfarbetterthandosomemodern
textwritersandtheorists,anditmakescertainrecentso-called"discoveries" appearmeremental
vagaries,asfarasthecreditfordiscovery isconceriied. Itmerelyillustratesthattheyaretodayas
deepthinkersasStevinwas300yearsago.
ThePrince. Imustaskanotherquestion.Theentriesstandinmyledgerasdebitsandcredits.Which
ofthesetwostandtomyadvantageandwhichtomydisadvantage?
Stevin. Debitsintheledgerareyouradvantage,forthemorePeterowesyouthemoreyourcap-
italis,andlikewisemuchpepperinthewarehouse,whichstandsasadebit,willmakemuch
moneyinthecashdrawer.However,creditsarethereverse.
ThePrince.Aretherenoexceptionstothis?
Stevin. Icannotrecallany.
ThePrince.Yetcapitalasadebitdoesnotseemtomeasanadvantage,andcapitalasacreditbeing
adisadvantage tomeappearsentirelywrong.
Stevin. Iforgotthat.Youareright. Imeanttosaythatcapitalisanexception.
ThePrince. Further,expenseisadebitandit,togetherwiththedebitintheprofitandloss,areboth
disadvantages.
Stevin. Becausethesetwoareapartofthecapitalaccounttheyareincludedintheexception.
ThePrince.Thecreditsintheclovesaccountintheledgerareinexcessofthedebitsby£74-4-7.
Thisisanadvantagetomebecause itrepresentsaprofit,yetitisinthecredit.
Stevin. Thereplytothiswouldbethatiftheaccountwereclosed(whichyoucandowhenyou
please,butusuallyattheendoftheyear),theexcessinthecreditswouldbetransferredto
theprofitandlossaccountandyourquestionwouldnotarise.
ThePrince.Yetitremainsthatwithaccountsliketheclovesaccount,wheretheyshowaprofitora
loss,itisnotsofrequentlytruethatatalltimesdebitisanadvantageandcreditadis-
advantage.
15

24. Stevin. Thatappearstobetrueaudiuthatrespect itissomewhatsimilartoyourexception,but
itshowsallthemorepositivelythatinallaccountsofcapital,orthosepertainingtocap-
ital,debitisalwaysadisadvantageandcreditanadvantage.
ThePrince.Whyhascapitalmoreexceptionsthanalltheothers?
Stevin. Becausecapitaldebitmeansasmuchasthoughtheproprietorsaid,"Iamdebittoallthe
otheraccounts." Itfollowsthatthemoreaproprietor isdebtorinthismannerthemore
itistohisdisadvantage,andthemoreheiscreditorthemoreitistohisadvantage,for
whichreasoncapitalmustbethereverseofotheraccounts,anditisnotthereforereally
anexception.
ThePrince. Ifcapitalstandsforthenameoftheproprietor,whyistheproprietor'snamenotused
insteadofthewordcapitalinasmuchasthroughtheuseofthatwordsomanythingsbe-
comesodifficulttounderstand?
Stevin. Merchantsoftenformpartnershipswithmanywhotogetherputinoneprincipalsumof
money.Forthisreasonweneedonedesignationindicatingthemallatonceasproprie-
tors,andforthisthewordcapitalisusedwithgoodreasons.
Furthermore, atthattimethewordsassetsandliabilitieswerenotknowninbookkeeping. Happy
daystheymusthavebeen.Thesetermsoughtnottobeknownorusednow.Whatwenowtermlia-
bilities,andsomeofwhichsomeofusarealmosttemptedtocall"nearliabilities"verymuchthesame
aswedefine"nearsilk,"neverareandneverwillbeliabilities,foratthetimethefinancialstatement
ispreparedtheseamountsarenotsupposedtobedue,hencetheproprietorcannotpossiblybeliable
forthematthattime.Atmostheis"trusted"forthembyhiscreditors,astheoldauthorsexpressed it
correctly. Neitherareassetsatanytime,inagoing,solventbusiness,realassets.Thewordsassets
comesfrom"assez"whichmeans"enough." Thequestionofwhethertheproprietorhasenoughto
coverhisliabilitiesdoesnotcomeupuntilhisabilitytomeethisobligations isquestionedoruntilheis
calledupontorenderastatementtothecourtwhereinheisbroughtforthispurposetoanswerthe
questionwhetherhehasenough{assez—assets)tocoverthatforwhichheisliable(liabilities)orpast
duecreditsortrustingsbythecreditors. Thosewhodoubtthisshouldstudyfromthereportedcourt
casesthedifferencebetweenmercantileinsolvencyandlegalinsolvency.
InanalyzingafinancialstatementIbelievetheseassetsandliabilitiesmaybeinterpretedtomean
somethinglikethis:Theproprietor,inordertobepermitted tocontinuetodobusinessoncredit,
makeshereashowingtothoseinterestedbywhichheagreesthathisbooksshowthatthepersonifica-
tionsofcash,realproperty,personalproperty,merchandise, aswellasthepersonsowinghim,are
obligatedtohimand"shallgive"himtheamountsstatedonthelefthandsideofthestatementorthe
amountsappearingtothedebitoftheseaccountsintheledgerandtothecreditofhisownaccount,
andthattherebytheproprietorwillbeabletomeetwhateverobligationshecontractswiththosewith
whomhehasdealings.Hefurtherstatesinthisreportthatpersonsinterestedshouldtakenoticethat
thebooksshowthatthefollowingpersons"shallhave"or"shallreceive"fromhimtheitemswhen
theybecomedueandpayableandstandingontherighthandsideofthestatement,ortheamounts
appearingtothecreditoftheseaccountsintheledgerandtothedebitofhisownaccount.Thatthese
itemsaretobedeductedfromtheitemsofcash,realproperty,personalproperty, etc.,beforethosein-
terestedinthestatementcanjudgeastowhethertheyshalltrust{credito—credit)himfurther.Thus
itbecomesatonceapparentthatcapital,togetherwithsurplusandlossesandgains,representtheowner-
shipofthethingsownedlessthoseowed,leavinganetownership,andnetownershipcanneverbea
liability (i.e.,athingtobeliablefor). Ifsurplusevercanbealiabilitythenaminus-surplus ora
deficitmustofnecessitybecomeanasset,whichisanabsurdity.
ThestatementofaffairsdescribedbyStevinandelsewherereproduced,maybeconsideredtobe
merelyastatementoftheclosingentriesastheywouldbemadeintherespectiveindividualledgerac-
countsinordertomakeboththedebitsandthecreditsevenandequal.Forwhatevereachdebitaccount
showsmoreinthedebitthaninthecredit,asStevinexplained, itisgivenbytheownertothataccount
forsafekeepingasifitwereaperson—hencethispersonorthisaccountowestheproprietor; there-
fore,theproprietortruststhesepersonifiedaccountsandbecomesthecreditor.Withthecreditaccounts
itisthereverse;henceStevin'sstatementofaffairsisthecapitalaccountitemizedwithapreponderance
ofcreditstorepresentnetcapital.TheEnglishfollowthismethodofrenderingafinancialstatement
tothisday.WhyAmericansreversetheprocessisdifficulttoperceive.
Fromtheforegoing itwillfurtherbeseenthatthuswiththeaidofancienttermswecanreadin-
telligentlyandexplaintheabbreviatedformsusedinbookkeepingsothatitbecomesatonceapparent
whyaccountslikethecashaccount,whichtotheuninitiatedlookslikeproprietorship, canbeshown
onthedebitsideoftheledgerandwhycapitalaccount,whichalwaysrepresentsownership,appears
onthecreditside.Thisatfirstthoughtmayseenrcontradictory,butthereasonforthisapparentin-
consistency liesintheelimination(throughbookkeeping) ofequalterms(asperrulesofalgebra)
broughtaboutbythetheoreticalmakingofdoubleentries(twoentries,eachwithacommondebitand
credit)andthusabbreviating itbeyondtheinterpretation ofordinarylanguage.Thuswemaygoon
andwithequaleaseprove,astheGermanscholarJagerhasdone,thatdouble-entrybookkeeping is
mucholderthansingle-entrybookkeeping, thelatterbeingastillfurthershorteningofmethodsof
classificationbytheuseofthetermsdebitandcredit. Stevinveryclearlysuggeststhisinhisex-
planationoftherulesofpartnership.
Itistoberegrettedthatinthetransferoftheexpositions ofthetheoryfromtheDutchlanguage
(assoplainlyexemplifiedbythescholarSimonStevin) totheEnglish(bythefloweryschoolmaster
RichardDaffome)shouldhavebeensobadlydonethatallrecordsofthescientificpartoftheartand
theoryhavebeensocompletelyobscuredastosuggesteveninthepresentdayanargumentontheoriesso
wellknowninthoseoldendays.
16

25. LUCASPACIOLIREPRODUCED
Thefollowingeightpages,from18to26,andthesucceeding32left-handpages,numbers28to80,
representphotographicreproductions oftheoldestextantbookondouble-entrybookkeeping,publishedin
Venice,Italy,in1494.Thereproductions areofthesamesizeastheoriginal,andfullyillustratethe
make-upofthebook,whichisoneoftheoldestbookseverprintedfromloosemetaltypeinRomanletters,
asexplainedattheopeningofthehistoricalchapter.Theinkusedwasvegetabledyeink,andistoday
asblackandasfreshasIndiaink,after420yearsofuseandexposure. Itisprintedonhand-maderag
paper,unsized,whichaftersomanyyearsofexposuretoairandlightisstillsofarsuperiortothevery
bestmodernpaperthatacomparisoneaiuiotbemade.
Onpage18appearsthetitleofthisbook,"SummadeArithmetica, Geometria,Proportioni etPro-
portionalita,"(ReviewonArithmetic,Geometry,andProportions). Belowthetitleisabriefsynopsisof
thecontentsofthebook.Part1,Section9,Treatise11ofthisancientbooktreatsofdouble-entrybook-
keepingandbeginsonpage199-aoftheoriginal,ori)age32ofthisvolume,underthetitleof"Particu-
larisdeeomputisetScripturis"(ParticularsofReckoningsandTheirRecording). Thiscanbefoundin
theseventhlineofpage32.Thepicturedirectlyunderthetitle,onpage32,issaidbysometobethatof
theauthorofthisbook,butthereisnothinginthisoranyotherbookwhichsubstantiates thisassertion.
Page19,whichimmediatelyfollowsthetitlepageoftheoriginal,containsadedicatoryletterbythe
author,whosenameappearsonthesecondline.Thelowerhalfofthispageisoccupiedontherightby
anepigramofpraisetoPaeiolibyafriendofliisandontheleftbyanepigrambytheauthortothereader.
Thefirstofthefourlastlinesofthispagecontain,alistoftheletterstobeusedbytheprinter,
merelyasaguideforthosewhoarenotfamiliarwiththisstyleofprintedletters. Thereafter,onthelast
line,theyear(1494),thenthedate(November20th),andthentheplace(VenetiaorVenice),allofthese
pertainingtotherecordofpublication.
Page20isanotherdedicatorylettertotheDukeofUrbino.Theauthor'snameappearshereinthe
thirdline.
Onpage22,inthethirdlineofthecenterparagraph,theauthor'snameisgivenagain,thistimein
thegenetivecase,hencePratrisLuceinsteadofFraterLucas.
Pages24and25arereproduced inordertoshowthemarginalnotestheregiven,indicatingtheab-
breviationsusedinthebook,andtheirinterpretation. Page25isalsogivenforthereferencetheauthor
makesinline7tothreeofhispupils,Bartolo,Francesco,andPaulo,thethreesonsofaprominentmer-
chantofVenicenamed(Antoniode)Rompiasi. Thedashoverthe"o"intheoriginalindicatesthatan
"m"followsthe"o."
Page23isgiventoreproducethetypeofnumerousmarginalillustrationstheauthorgivesonnearly
everypageofhischaptersongeometryandarithmetic,considering themanj*illustrationshereusedit
seemsverystrangethatheshouldnothavegivensomeinhischapteronbookkeeping.
Page26isgiventoshowthatourmodernso-called"eflSciencyengineers"havenothingthebestof
thismonkofover400yearsago,asto"organization charts." Thischartillustrates theintricacies of
proportions.
Pages28and30containtheindexofthechapterondouble-entry bookkeeping. Notranslation is
givenofthesepages,becausetheyaremerelyrepetitionsoftheheadingsofeachchapter,andtherefore
theirtranslationappearsatthoseplaces.Intheirstead,acomparativeindexisgivenoffouroftheearli-
estwritersonbookkeeping, inordertoillustratehowcloselytheyhavefollowedeachother.
Onpages32to80(left-handonly)arethereproductionsoftheoriginalchapterondouble-entrybook-
keeping. Oppositeeachreproduction isgiventhetranslation inmodernEnglishsubjecttothequalifica-
tionsmentionedinthepreface.
17

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20

29. WHATWASPACIOLI'SREALNAME?
Inthehistoricalchapter,wehavestatedthatthenameoftheauthorofthefiratbookonbookkeep-
ingwasnotdefinitelyknown. Thisisquiteapparentfromthedifferentversionsofthespellingofthe
name,whichwefindinthevariousbooks,anditbecomesratheramusingtoreadhowthevariousau-
thorsmentioning thisnametakedelightinstatingtliattheotherfellowiswrongandtheyareright.Yet
notwoofthemapparentlygiveitalike.
BrowaiinhishistoryofaccountingespeciallyridiculesYmpyn'sversion,andwithitallBrownhim-
selfspellsitPaciolo,withan"o"attheend,whereasalltheauthoritieshequotesspellitwithan"i"at
theend,andhegivesnoexplanationastowhyheprefersthe"o".Belowwegiveatabulation ofthe
variousspellingsofthesenamesbythevariousauthors,eachonebeingprecededbytheauthorityfrom
whicliwehavetakenthename.WehaveadheredtothespellingofLucasPaciolithroughout,becausewe
believethattobetheproperspelling,fromthetwobestresearcherswhohavewrittenabouthim,namely,
thetwoGermansJiigerandKheil,andfurther,becausewebelievethatthe"li"intheoldItalianwas
Latinizedinto"lus,"andthe"c"istheoldItalianfortheLatin"t"inmostallcaseswheretheLatin
't"isprecededandfollowedbyavowel.Furthermore,wehavetheauthor'sownversionofhisown
name,aswehaveseenelsewhere,intheonlybookthatispublishedwithhisnameinfull,namely:"Di-
viuaProportione,"whichwaswritteninLatinandwherehegivestheLatinofhisownname.While
"Luco" istheItalianfortheLatin"Lucas,"wefollowtheauthor'sownspellinginliisItalianaswellas
Latinbooks,namely"Lucas":
AUTHORITY.
SummadeArithmetica
(author'soriginal)
SPELLINGOFNAME.
FraterLucasdeBurgoSanctiSepulchri
(Theabovenameappearsfirstonthesecondlineofpage19ofthisbook,whichisthesecondpage
oftheoriginal;alsoonthethirdline,page20ofthisbook,which ispage3oftheoriginal;andin
thethirdlineofthesecondparagraph,page22ofthisbook,beingpage4oftheoriginal—here,
however, itisgiveninthegenitive,henceFratrisLuceinsteadofFraterLucas).
LaScuolaperfettadeiMercanti(secondedition
ofSummadeArithmeticabysameprinters)
DiviuaProportione
(author'soriginal)
Contemporary writers
JanYmpynChristoffels
(inhisFrenchbook)
GuidoBrandaglia
ErnstLudwigJager
CarlPeterKheil
Beckmann'sHistory
Anderson'sHistory
ClitofonteBellini
(Trattato Elementare Teorico—Pratico di
RagionesiaGrenerale)
V.VianeUo
(LucaPaciolonellaStoriadellaRagionesia)
PawellCiompa
(GrundrisseeinerOekonometrie
)
L.Gomberg
(GriindrissderVerrechnungswissenschaft)
V.Gitti
(DeComputio—modern)
MoritzCantor
(GeschichtederMathematik)
SigismundGiinther
(GeschichtederMathematik)
'
CatholicEncyclopedia
RichardBrown
JohnB.Geijsbeek
FraPaciolodiBorgoSantoSepolcro
LucasPatiolus(theLatinoftheItalianPacioli)
LucasPacciolus
FrereLucasdeBargoSanctySepulcry
LucaPacciolo
LucasPaccioli
FraLucaPaciolidiBorgoSansepolero
LucasvonBorgo
LucasvonBorgo
LucaPaciolo
LucaPaciolo
LucaPaciolo
LucaPaciolo
FraLucaPacciolo
Paciuolo
Paciolo
LucasPacioli
FraLucaPaeioloDaBorgoSanSepolchro
LucasPacioli
ai

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23

32. ^i(HncUoqnintA.ZractataB pn'mua. 67
romrepartendofordipcr.zo.ncuc g-lScrclxlaliravbiqjfitcncfddLio.lc s.poiafame
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titaoepidoludoepiablirtuniero.96598.C>ico clxpjimafaccicommofcftioifop2aniItpc
fio:dinamcntercducendopziinaalaimmediatamonetafcquentetqualecclfoldoinque
'
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ftefono%>xxvalutarcau3n$a.9-d3eron.9.foldi.£poiperfameojo.i&artirai les
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s,Cdmokvdclfefar
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24

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26

35. PECULIARSAYINGSOFPACIOLI
Chapter 1."Wlherethereisnoorderthereisconfusion."
2."Everyactionisdeterminedbytheendinvi(>w."
3."Definingdiligentlyandtruthfullysothattruthwillalwaysguideyou."
4."Morebridgesarenecessaryforagoodmerchaiitthanalawyercanmake."
"Themerchant islikearooster,whichofalltlieanimalsisthemostalert,andinwinterand
summerkeepshisnightvigilsandneverrests."
"Alsoitissaidthattheheadofthemerchant liasahundredeyesandstilltheyarenotsuf-
ficientforallhehastosaj'ordo."
"Thelawhelpsthosethatareawake—notthosethatsleep."
"Dantesays:
'Myson,itbehoovesthatyouquityourlaziness.
Godpromisedthecrowntothewatclifulones.
Hewholiesonfeathersorundercoverwillneveramounttoanything. Suchaoneleaveson
thisearththesametraceasthesmokeintheairorfoamonthewater'." .
"WorkshouldnotseemtoyoustrangeforMarsnevergrantedavictorytothosethatspent
theirtimeresting."
Asagesaidtothelazymantotaketheantasanexample.
ApostlePaulsaysthatnoonewillbeworthyofthecrownexcepthewhoshallfigiitvaliantly
forit.
RememberGodandyourneighbor.
Attendreligiousmeditationeverymorning,forthroughthisyouwillneverloseyourway.
Bybeingcharitableyouwillnotloseyourriches.
TheSaviourinthebookofSt.Matthewadmonishes,"SeekyouChristians firsttheKingdom
ofGodandthentheothertemporalandspiritualthingsyouwillI'asilyobtain."
18and31"Whodoesnothingmakesnomistakes;whomakesnomistakeslearnsnothing.
22 Otfieialsdonotbotheraboutdetails.
23Accountsarenothingelsethantlieexpressions inwritingofthearrangement ofhisaffaii's.
whichthemerchantkeepsinhismind.
Ifyouareinbusinessanddonotknowallaboutit,yourmoneywillgolikeflies,thatis,you
willloseit.
29Booksshouldbeclosedeachyear,especially inpartnership becausefrequentaccounting
makesforlongfriendship.
33Ifthelossesareinexcessofthegains—fromwhichstateofaffairsmayGodkeepeveryone
whoreallylivesasagoodChristian.
35Ifyoudonotputtheplaceanddateonaletter,youwillbemadefunof.becausewesaythe
letterwhichdoesnotbearthedatewaswrittenduringthenight,andtheletterwhichdoes
notbeartheplacewesaythatitwaswrittenintlieotherworldandnotinthisone.
27

36. 00mmepcgno.io.contra.i ^.vnalrroincttc.io.contra.:y-oiniandarccbicbc
uanrjgi'ocquantopc. f'n
cofipji'inauediquantomcriccin'a.zo.dc I'coturoa
rara.cbc.io.a.i^.ccnfe.io.a.i^.cl?fbara.:o.otrrabaucr.'.o.oonca iicdidxnori
hidcbitofcontrobaWaiido.:?ozucdidjeliniancadxUniidxraO3.:7.a.;o.
<Ixfoni.ucdid?cgtefondcfuocapitalcbcc.
-odjc(onli-jl-Ctatocb'jcoioanonIfoca
pitalcrcfpccroalalcro.ooncaargucfdclxlaltrobabiaamqioU.Jdclfuocapi'talccbuol
dir.iS'.pcr.c^.dxfirrouaand?eaqudlomododiccndocoluimcttcndo.
io.riraria iS.kmo
teTc.ioo.cbcn'raraucoperariraria i>"o.quair3(ua.Tt>oiplaltrooi'raifc.io.uol.iy-cbcuo'
ra.too.dxuirraauolcrc. i;f.cbocdicbcitiancodx. i^o.delp°.fidxcbbcfuatagioB(jqc
q'togc'.abbari. i
*^f.dc.i?o.rcfta.
if.ctatocbbcdar»oitutroperbaucrmclto. ioo.ci'ocIxiuc
darmoralpanequalfon.i<.dc.ioc^.dxfon\iji.utfup:alatroau.iiKopudxlui.iN.intut'
toclxfonli.jl.pnrdeloo.fuocapitale:fidxauantag«o.i f.pc^.fattapercfxrcinplalpar-
tequalegdcInnoqllamcdcfimapreucneala^arclaltroecofiibaratti.
Xauoladel£5uadcrno.
&cqudiccoxcbcp:mcipalmctcrdno nccclTaricalucromcrcataiuctcoelojdincafapcrctc
nercbenevnquadcriioc6lofiio^02n3lcinuenctia:cancbcp
oc,nialrro!«Ot;o. ca'-i
belapaniaptcp:incipaloequcllotraaatodcipifiucntano:cdxeofafiainuentarioieco
meframcrcatanti fibabiaafare. ca'.J
5^o?in3crcinplarc:c6tutrcfiicfolcnnitai\oiiiuctan'orequifitc. ca^j
OtilifTimaeroaationc'.cfalutifcridocuincntialbonmercataiucptincti. ca'.4
bela.i'.ptepn'ticipaleDelp:cfcretractatedittadiTpoiiccomclafabbiaaifciidere:e icbcc5
fiftc:circaaltrafico.edcli.;.lib.n'pniicipalidelco:pomcrcanrcfco. ca'.?
t)dp'.lib^odittonicmojialeonerfquartafoblioouadxttaqllodxfeitcdaiccomoiciTo
febabiaafcniicrcicpercbi. ca'-fi
bclniocoitioinioltilod>ifibabloautcn'caretuttililib'.inercatcfcW:epcixtedad>i.c.7
£6mofedcbinooittarcIcptitcfoittomcmo2ia!ecoercpli.
,
ca^-9
bc\inoucmodipliqualicoiminamcrc ficoftumafralimercawncicopazarcie dlemeriatic
quaildpindcIciioltcdcncccifitaatcoo(icop:ano. ea°.<f
bdfccondohbjop.'incipalcmcrcantcfco oittogiornaletquelcbel(iaecommcfcdebiaoi
fponereoiditratamciiie. ca'.io
bell001terminincldittogibmalerfitatitnaicimc Ivcnctia'.lunodittop^r:laltroditto.a
28

37. COMPARATIVEINDEXOFTHEEARLIESTWRITERS
Thefollowing isascheduleshowingcomparatively thecontentsofthechaptersofPacioli,Manzoni,
PietraandYmpyn,sothatthereadermayhaveaquickperceptionoftheextenttowhichManzoni,Pietra
andYmpynhavefollowedPacioli.Onlythemostimportantitemsaregiven. Carefullynotethecoin-
cidencethateventheorderinwhichthechapter isgivenpracticallyremainsunchangedfromthatof
Pacioli.
CONTENTSOFCHAPTERS.
Thethingsamerchantneedsanddescriptionofsys-
temofkeepingajournalandaledger
Description ofaninventory,movables,immovables,
accountsreceivable,accountspayable
Sampleofaninventoryinfulldetailbylots
Usefulinstructiontoamerchant
Introduction tosecondpartofthetreatisecovering
'Disposition
'
'
Description, etc.,ofthedaybook
CHAPTERNUMBERS.
Themarkingofthebooksandtheuseofthecross
onthem
Authentication ofbooksbynotaries
Sampleentryforthedaybook
Ninemethodsofpurchasinggoods,asmanyforselling
Descriptionofthejournal
Thetwoterms"Per"and"A"andthetwolittle
lines//
Theterm"Cash"
Theterm"Capital"
Samplesofjournalentries
Onekindofmoneyinamountcolumn
Lineundereachentryandthroughmoneycolumn,
diagonallinethroughdaybookentrywhenjour-
nalized,orcheckoffatbeginningorendofentry
TheLedger
TheIndex
Fourlinesformoney,oneforledgerpages,twofor
dates
Postingfromjournaltoledger
Twodiagonallines,oneonleftandoneonright,when
entryisposted
Postingfiguresoneaboveother,dividedbyalittleline
Theplaceforthedate
YearinRomanfigures
Changeinj'earbetweenentries
Inpersonalaccountmoredetailrequired
Spacingofledgertosavetransfer :
Index
Furtherinstructionaboutmerchandiseentriesinthe
ledger
Pacioli
1
2
3
4
5
6
6
7
8
9
10
11
12
12
12
12
12
13
13
13
14
14
14
15
1.')
15
15
15
15
16
Manzoni
Vol.I/l
Vol.1/2
Vol.1/3
Vol.1/4
Vol.1/5
Pietra
1
6-8
9
10
16

38. Biftincfiono^a2:^actat^9.xl^©c^mpfuri3. 198
equcITodvperlo:ofcI?abi33oenowrc. ca^
1
1
bdniodoaf.ipcrponcrecoinarckptirrcifogfojnalcodoarc
c
dclancrec6molnercin
pIi';c«xlidoiaItnterminindquadcrnoufuatiluno ocrrocalTac lalrrocaucdalcicqudlo
c\xperc(Tifebabiaintcnderc. ca°. 1
:
Ddrcr(,o7vUimoIib:opjinapalcmcreantdcooettoelcjdernocommoocbbeciTerfartoc
pelfuoalfobctocotnofcuebtn'ao:dinarcvgtiioloeoopio. ca".i?
bdmoapo:r3releptiteoelgiocnale iqderno:cpdxdernafgibrnafefciiefaciaooiin
q
derno:eodmodoa DepcnnarcIcparnrcingioznalecdelioornumeri Dieearnoclqua
dcrno(beinkfuemargineftponc:epcbc. a".\4
Delm«3afapcoitrareIcptircoelaealTaceaucdalcndquaderno ioarecl>auerf:codmile-
fimod?eoifop:3ndp:incipiooclaearraalantieofimetreineiToieoelafuamutan'oiic:c
ddeoprirlifpacijoclecartifcDoIcgtiteplecoleegradik6odbifognoDlefaccde.ca. 1
5
tComokdcbinooirrarelepartiteoelemercanriedxpinuentario alrromodolomofen
troii3:ncIquadernoinoareeinbauerc. ej°.i
6
t>dmodoatencrcomoconliofficiipuplidicperdx:cdelacameraodimp:efhttiinvcnc
rtad?efegoiiernaperviaoefertieri. ca?1
7
CommofeocbiatencrcontocbnToffifciooclamclTetariainuenen'acocloittarelefucpar''
tireinmemo:iale:5iorn3le:eqderno:eanco:aoclimp2elli. sea".18.
£>dmodoafapcrenotarecoittarevnaptita6robbacopataa(dmi'Atmn.Ui libjidocnic
mo:iale:gio2nalc:cquadernorccomeaptccotatieptetepoalmedefimo£apitolo.
£emmofeocbiao?dinareelpagamentocbcbauefleafareperoittaebancbodefcriprisnc
litoilib2ip:inapali. ea°.19
t>elepiitcfamofeepticulan"ndmaneggiotraficatccomofonobaratticopagnietccomo
lefebabbinoafettaretordinarenelilibiimcrcatefcbi:cp:imaoelibarattifemplicicopo
Hiecoltepocoaptiereplioctuttiimemo2iale:gio:nalf eqdtrn0. a".20
tclaltrapariittafamofaoi'ttaCompagniercommo feocbi'no02dinarc:edittarcintuttiU
modiocurrentiineiafcunolib:o. ca'.ii.
Ceto:dineocIcpritcoeriafcunafpcfarcomooccafao?dinarie:ftr3ordinarie:c oinicrean
rij:falarijoeg3r»;onicfactoncomofabinoafcriucrc:eoittarenelilibzi. ca°.22
belojdinecmoafaptencrfneotoocbotcgaintuamano adaltrirccomandataccomo
feoebinonelilib:iautcntici'ddpatronecaficbeinqudlidcbotega feparacamente fcri'
uereeoittare. ea".:?
£6mofebabinoafettarendgiojnaleeqdcrnoleptiteoelibacbiocfcritta:eqlifcinrcdi'
noeoouenefia-.odecabiitiicolo:ofiandomcrearante-.ctuc6altriquadofoiTcb^d?iai;
eoelequietacecbeplicabififannorcpdxfencfaciaooiocmedefimotenojc. ca".24
bevnaltraparritadbc3lcuoltcfe'coftumandqdcrnotcnercocttaentratacufdtacaleuoUc
fenefalibjoparti'eulare.cperdx. ca°.2j
£6mofebabinoafettarendilib:ikptitcdcliuiaggfifuamano:cqltcdeliafaggirccoma
dm:ccomooeneccffltaoetalinafconoooiquaderni. ca°z6
bcunaltraptif3famofacittap:oco3nnooueroauangedcfauano':commo lafabiaatc
nercndquadcrnoicpdxellanonfimettahdgib.malecomoleaftreptitc. ca*'.:
7
£6mofeoebinoreportarcinan^eIcptiteodquadcmorquando folTeropiencic idxluogo
fabbiaportareelrefto:adonofiapzefa'maliriandquaderno. ca'.aS
bdmodoafapermutarcdmilefimondquadernofralepiitecbc3lagioznataacafcano:
quandoogniannononfifaldaffclilibzi. ca'29
CommfedcbialeuarcvncontoaldebitorecbclooomandafTccancoraalfnpatronefi
ondofactozeecdmcrTodetuttalaamim'ftrarioedelerobbc. ca'.;o
bdmodoeordineafaperrctractareoueroiftoznarcunapiupartitctcfxperroriMueiTc
pofteinaltroluogocbcdoucffcroandarccomoaduencprmemozaginc. c&y\
Commofcdebiafaredbrtandoodlib:oeddmodoarepoztarcvnlibroinlaltrotciocejq
dcrnoycd?iondqdemoiiuouoeddmodoapontarloconlofuogiornaleememon'alec
altrifcontridctroeoifuo:oddittoquaderno. PV*
bz\modoeo?dincafcnuerelefaccndcdxoccurrelTcrondtempodxfifadbilanaoicioc
cbefifjldaiiolilib?iccommondililibriucd?inonfi(Jd?iarcriuercncinnouarecofaalcu
naindittotcmpoielacagioneperdx» ^•'»
80

39. CONTENTSOPCHAPTERS.
Abouttheentriesinaccountswithpublicofficialsand
banks
Transactionswiththemarketmaster,andsalesfor
cashorontimewitljbrokers'commissions
Transferofmoneythroughanorderonanotherfirm
orabank
Tradesandexchanges,andtheirbookentries
Jointventureaccountsandtrades
Generalexpenses,commissions,andsalaries,income
andexpenses,profitandloss
Branchstoresorhouses
Thebankorprivatedraftandtheirduplicatereceipt.
.
Aseparatebookforincomeandexpenses
Aseparateledgerandjournalwhentravelingwith
goods
Profitandloss
Whytheseentriesdonotgothroughthejournal
Transferofanaccounttoanotherpageintheledger
(differenceonly)
;notenteredinjournal
Thechangeintheyearbetweenentriesintheledger...
Thepreparationofastatementofaccountforcus-
tomers _
Correctionofanerrorinposting
Balancingoftheledgerandtransfertoanewledger...
Checkingwithdots
Checkingwithothermarks
Whattodowithnewentriesduringperiodofclosing
ledger
Thebalancingofallaccounts
Profitandlossaccount
Finalclosingoftheprofitandlossintocapital
Thetrialbalanceandbalanceaccount
Lettersanddocuments—howpreservedandfiled;
mercantilelettersgivedateandplaceattop;non-
mercantile atbottom
Resumeofentiretreatise
BalancingentriesmarkedRo(resto) „
Pacioli
17
18
19
20
21
22
23
24
25
26
27
27
28
29
30
31
32
32
32
33
34
34
34
34
35
36
36
CHAPTERNUMBERS.
Mauzoni Pietra Ympyn
Vol.II/9
51
35
43
43
42
40
Vol.

40. Bi/!incfiQ_non9.tP£lttatns -xC-Bcfcripmria
Conimoftocbianofaldarcturnkpartiteoelquadcmovccf?io:cicl3i:cpercf?ccochfij
mafumaruinnclrareeoclaiicrculrimofcontrooclbilana'o. oa''.;4
i:>elinodoeo:dicafapcrtencreIcfcnpturcmenutccomofonorcripnocmanolrcfamilia
ripolitic:^clTiTcntcfiecalmifhunicricjxl rtgiftroocIcletrercipo:tan. ca".;j
£pilogo ucrofumariarccoltadctuttoclp^cfcntctractaro;aaoconb:cuefubftatiafcba
biamandarcam€mo2i3Iccofcocttc. ca"*.i6
Oillmcrio.iionfl.'itractatua.rr.pticularis t>ccoputiatfcriprun'e.
bequellecofccbefononecclTariea\ueron1erca^alue:cvelo.'dmcaTapebetcncrcvnq/
dernoc6fuogioznalc irinc^iaeanclxpognalrro(uogo. £jpirolop?uno.
'|rcucrcnri(ubditio£.U.&.S^.On>35nanimo.C>.acio apicno
DCturtolozdinemcrcanrcfcobabi'noelbifoguo'.oelfPCTai.CoIr'.
lccofcoman^cfqftanfaoqamttc)3nco23 parriculartractsto
grandemerenecefTanoc6pillarc.£inqflofolo\oiferto:gc\x
aognilorooccurrccaclpfenrelibzolipoflafcruirc.Sioelmo
;
doaconnefcriprure:c6mooeragioni.£percIToiiiteiidooar/
linojmafuffidenreebaftanreinrcnereordinatanicnre rutrilor
conriehbji.-j&crocbcCconio ftfa)trccofcmatimefonoopor
tunc:ad?iuoleconDcb'taoiligcfiamercanrarc.5c ieqlilaporif
fimaelapecunianumcraracogin'altrafacultafuftantialc.Ju
rtailludpl?yvniialiquidnecefTano?!!efubftanria-jSctia clcui
fuflfragibinalfipoclmanegiotraficanrcerercitare.Suegadx
molrigianudicobonafedccoracncandoroegrafacadebabiofarto,£mcdiantclocrediro
fedclmetcferuaroimagneridxi^ccfienopcruenutii£beafaipvtaliaoifcurrcdonabiamo
cognofcibn.£piii^dnelegrarepuWtdxnonfiporeuaoireiclxlafedcodboninercatan
te.£aquellaOfermaualo?giuramcnrotoicedo.B lafeoerealntcrcaranre.€cionooeuef
fereadtnirario;ie:c6ciofiadxi|afedecarolicamcrcognunofirjlui:efcncalc«fiaipolTibile
piacercamo.tafecodacofacbcfirecercaaloebitorraficoirieclxfiabnonragioncri:e
^mprocopurifla.£
pqucftoV6fcq:iire.Coifop:3 comofcucdiito)o3lp:idpioalaiiiic:Ixi'
ucinoJductorcgolcecanoniaclafcunaoparionerequifin'.5nmododxwfctogniotligc'
teIccroze.turtoporraip2endere.£ d>i'oi'queftaprenonfofTebenearmatoilafeqiietein'ua
nolifercbbe. la.;'xvltimacofaopormnafie:clxc6belloo:dietunefuefacedeocbira-
meteoi'pongatadoconb^cuitatpodaocciafciiabaucrnoritiaiqiiantoalo:oebitocawdx
creditovelxcircaaltrononfarcdedtrafico.£qftaptefralaltreealojounli(Tnna:dx ilor
facedealtramcteregerfe:feria«po(Tibile:fceaoebitoo:diiiec>efcn'pfurc.£fe^alctirepofola
lo?mftefempjcftariaingrantrauagli.fpoadoconlaltreqftapoflinobjucre.elpfetetra
ctatoojdiai.J^dqlcfcdaelmoatuttefo?rioefcnptiM*c:aa^gca'.^xedcdo£beclxno
iipoikcufiapototuttoelbifognofcriuere.ji^ooimcnop
qldxfcoira.£fpcgrinoigegTa
qlucaln-olapiicara.£feruaremo ie(lt>cltno»erincgi3:q!ecertamcrefra-gl^alcriemolto
dacomediare£niediantcqllloiognialtrofepo?raguidare.£qftooiKideremoU
^Jpn
dpali.tunacbiamaremoiuctario.£lalrraoifp6ne.£p^oelunaiepoioclaltrafuecelTiiia
metefeoirafc^lo?dieilappoflatauobcontenuto.t2>er laqlfacilmenteelleao:epo?raIc
occurJcntietrouarefecondoelnumcrooefuoicapitoliecarti.
feiCOloocbiroo?dieclxfafpcctauoffapbetenerevnqdernocolofuogib:n
J
leaqldxquifediraconofligcriaIliaateto£acio.bcfintcdael^elToidurre/
moicapovnocbemooinouocomcdatraficarecomop02<iicdebaproccderc
ndfcnere(oiconriefcnpiuretaciodjefucitamcteognicofapofliritrouareporta
Qlfuoluogopdxnoafettandolecofcwbitametealifuoiliiogl?iucrebbcigrandilTimiirj
uagliecdfufioioetutrefucfaccde^Jurtacoeoictiivbin5eo?doibieftc6fufio£pcroap
fecJOoocamerooogm'mercatanteoetuttonfo^xdTofaremocomooifop?acditto.:,^i
pncipali.leqliapramete^fcqucted?iariremo:aciofructofalutiferofabiaip?cdcre.£p?i3
dimollrando cl?cofafiaiuetarioccomofabiafarebelap^ptepncipaleoeqltotractato
t>ci*3!ucrario.£dxcofafiaiuctano:ecomefiramercatandfabiafare,ca'.z £6uienfi:
adoncap'mcre.pfupi^ncreetmaginaredxogniopanteemofTooalfine.£p
potcrqllo
oebifam^cecofecjrefao.inifuoffo?^onclfuo^eiTo.vndedfineoeqluclxrraficjntecoc
cSfcqiiirelidtoccopcteieguadagnopfuafubllctatioe.£pofempTCconlonomeoemefcr
©i>me?iedio:ocWanocomai^SKlojofaccnde.£ indpD°.dogniImfcripwre;dfiwfana<>
33

41. COMPLETETRANSLATIONOFPACIOLI
SECTIONNINE—TREATISEXI.
PARTICULARSOPRECKONINGSANDTHEIRRECORDING.
CHAPTER 1.
THINGSTHATARENECESSARYTOTHEGOODxMERCHANTANDTHEMETHODOF
KEEPINGALEDGERWITHITSJOURNAL,INVENICEANDELSEWHERE.
InorderthatthesubjectsofHisIllustriousHighness,themosthonorableandmagnanimousDuke
ofUrbino(D.U.D.S.
—
DocisUrbiniDominiSerenissimi) ,mayhavealltherulesthatagoodmerchant
needs,Idecidedtocompile,inadditiontothesubjectsalreadytreatedinthiswork,aspecialtreatisewhich
ismuchneeded. Ihavecompiled itforthispurposeonly, i.e.,thatthey(thesubjects)maywhenever
necessaryfindiniteverythingwithregardtoaccountsandtheirkeeping.AndtherebyIwishtogivethem
enoughrulestoenablethemtokeepalltheiraccountsandbooksinanorderlyway.For,asweknow,
therearethreethingsneededbyanyonewhowishestocarryonbusinesscarefully. Themostimpor-
tantoftheseiscashoranyequivalent,accordingtothatsaying,Unumnliquidnecessarium estsubstantia.
Withoutthis,businesscanhardlybecarriedon.
Ithashappenedthatmanywithoutcapitaloftheirownbutwhosecreditwasgood,carriedonbig
transactionsandbymeansoftheircredit,whichtheyfaithfullykept,becameverywealthy.Webecame
acquaintedwithmanyofthesethroughout Italy.Inthegreatrepublicsnothingwasconsideredsuperior
tothewordofthegoodmerchant,andoathsweretakenonthewordofagoodmerchant.Onthisconfi-
dencerestedthefaiththeyhadinthetrustworthiness ofanuprightmerchant.Andthisisnotstrange,
because,accordingtotheChristianreligion,wearesavedbyfaith,andwithoutititisimpossibletoplease
God.
Thesecondthingnecessaryinbusinessistobeagoodbookkeeperandreadymathematician. Tobe-
comesuchwehavegivenabove(intheforegoingsectionsofthebook)therulesandcanonsnecessaryto
eachtransaction,sothatanydiligentreadercanunderstand itallbyhimself. Ifonehasnotunderstood
thisfirstpartwell,itwillbeuselessforhimtoreadthefollowing.
Thethirdandlastthingistoarrangeallthetransactions insuchasystematicwaythatonemay
understandeachoneofthemataglance, i.e.,bythedebit(debito—owedto)andcredit(endito—owed
by)method.Thisisveryessentialtomerchants,because,withoutmakingtheentries.systematically itwould
beimpossibletoconducttheirbusiness,fortheywouldhavenorestandtheirmindswouldalwaysbetrou-
bled.ForthispurposeIhavewrittenthistreatise,inwhich,stepbystep,themethodisgivenofmakingall
sortsofentries.Althoughonecannotwriteouteveryessentialdetailforallcases,neverthelessacareful
mindwillbeable,fromwhatisgiven,tomaketheapplicationtoanyparticularcase.
Thistreatise^dlladopttliesystemusedinVenice,whichiscertainlytoberecommendedaboveallthe
others,forbymeansofthis,onecanfindhiswayinanyother.Weshalldividethistreatiseintwoprin-
cipalparts.TheoneweshallcalltheInventory,andtheother.Disposition (arrangement).WeshaU
talkfirstoftheoneandthenoftheother,accordingtotheordercontainedintheaccompanyingTableof
Contents,fromwhichthereadermaytakewhatheneedsinhisspecialease.
Hewhowantstoknowhowtokeepaledgeranditsjournalindueordermustpaystrictattention
towhatIshallsay.Tounderstandtheprocedurewell,wewilltaketheeaseofonewhoisjuststartingin
business,andtellhowhemustproceedinkeepinghisaccountsandbookssothatataglancehemayfind
eachthinginitsplace.For,ifhedoesnotputeachthinginitsownplace,hewillfindhimselfingreat
troubleandconfusionastoallhisaffairs,accordingtothefamiliarsaying,Ubinonestordo.ibiestconfusio
(Wherethereisnoorder,thereisconfusion). Inordertogiveaperfectmodeltoeverymerchant,wewill
dividethewholesystem,aswehave.said,intwoprincipalparts,andwewillarrangethesesoclearlythat
onecangetgoodresultsfromthem. First,wewilldescribewliattheinventoryisandhowtomakeit.
CHAPTER 2.
FIRSTPARTOFTHISTREATISE,WHICHISCALLEDINVENTORY—WHATINVENTORY
IS,ANDHOWTOMAKEIT.
First,wemustassumethateveryactionisdeterminedbytheendinview,andinordertopursuethis
endproperly,wemustu.seeverj^effort.Thepurposeofeverymerchant istomakealawfulandreasonable
profitsoastokeepuphisbusiness. Therefore,themerchantsshouldbegintheirbusinesswiththename
ofGodatthebeginningofeverybookandhaveHisholy
NOTE—Thewordsinparenthesesaretheauthor's,asalsothepunctuationandparagraphing, asthe
originalisextremelydeficientinthese.Thewordsinitalicsarecopiedexactfromtheoriginal.
33

42. nomcbauwJmctc7C£gop'.c5uaicbciiciifuooilisciirciuctarioiiqftomodo.cbcfern
p:cp'-fa'iua illvnfoglwoucro[ibioOJtjre.JCiwIx' I'encrouahiuera[inodeiocmobf(e:c
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84

43. nameintheirminds.Tobeginwith,themerchantmustmakehisinventory{invcntario) inthisway:He
mustalwaysputdownonasheetofpaperorinaseparatebookwhateverhehasinthisworld,personal
propertyorrealestate,beginningwiththethingsthataremostvaluableandmostlikelytobelost,such
ascash,jewels,silver,etc.,fortherealestate,suchashouses,lands,lakes,meadows,ponds,etc.,cannotbe
lostaspersonalproperty.Thenalltheotherthingsmustbeputdownoneafteranother. Inthesaidin-
'
ventorygivealwaysfirsttheday,theyear,theplaceandyourname.Thiswholeinventorymustbecom-
pletedinoneday,otlierwisetherewillbetroubleinthefutureinthemanagementofthebusiness.
Asanexampleforyou,Iwillgiveyou,now,anideaastohowtheinventory istobemade,sothat
youmaj'useitasaguideinanyparticularease.
CHAPTER 3.
EXAMPLEOPANINVENTORYWITHALLITSFORMALREQUIREMENTS.
InthenameofGod,November8th,1493,Venice.
Thefollowing istheinventoryofmyself,N.N.,ofVenice,StreetoftheHolyApostles.
Ihavewrittendownsystematically, orhadwrittenbyMr.So-aud-So, thisinventoryofallmyprop-
erty,personalandreal,whatisowedtome(debiti),andwhatisowedbyme{crediti),ofwhichIonthis
saiddayfindmyselfpossessedinthisworld.
FirstItem :FirstIfindmyselfpossessedincash,ingoldandcoinofsomanyducats,ofwhichso
manyareVenetian,andsomanygoldHungarian
;ofsomanylargeflorinsmadeupofPapal,Siennese
andFlorentine, etc.Therestconsistsofmanydifferentkindsofsilverandcoppercoins, i.<;.,troni,mar-
celli,papalandroyalcarliniandFlorentinegrossi,andMilanesetestoni,etc.
SecondItem: Ialsopossess,insetandunsetjewels,so-and-somanypieces,amongwhicharemany
balassisetingold,ringsweighingso-and-so-many oiuices,carats,grains,etc.,perpieceorinbulk,etc.,
whichyoucanexpressinanymanneryouwish.Thereareso-and-so-many sapphiressetonclampsfor
women ;theyweighsomuch.Andthereareso-and-so-many rubies,unset,weighingsomuch. Tlierest
consistsofunpolishedpointeddiamonds, etc.Hereyoumaygivesuchdescriptionsandweightasyou
desire.
ThirdItem :Iliaveclothesofmanykinds ;somanyofsuchkind ;andsomanyofsuch-and-suchkind,
etc.,describingtheircondition,colors,linings,styles,etc.
FourthItem :Ihaveseveralkindsofsilverware,ascups,basins,rammi,cosileri,piromi,etc.Here
describeaUthedifferentkindsonebyone,etc.,andweigheachkinddiligently.Keepanaccountofpieces
andweights,andofthealloy,whethertheVenetianortheoneusedatRagusa, etc.Alsomentionthe
stampormarkthattheymighthave.
FifthItem
: Ihavesomuchmassariadeilini—thatis,bedsheets,tablecloths,shirts,liandkerchiefs,
etc.,somanyofeach.Ofthebedsheets,somanyaremadethree-piecesheets,andsomanyarethreeand
one-half,etc.,mentioningwhetherthelinenisPadualinenorsomeotherkind,neworused ;lengthsomany
braccia,etc. ;somanyshirts,etc. ;tableclothsofsomanythreads ;somanybighandkerchiefsandsomany
small,mentioningwhetherneworused,givingthedifferentkindinyourownway.
SixthItem :Ihavesomanyfeatherbedsandtheirrespectivepillows,mentioningwhetherthefeath-
ersareneworused,whetherthepillow-casesareneworused,etc.,whichaltogetheroronebyoneweigh
somuch,markedwithmymarkorwithsomeothermark,asthecustom is.
SeventhItem: Ihaveathomeorinthestoresomuchgoodsofdifferentkinds: First,somany
casesofgingerniichino,weighingsomanypounds,markedwithsuch-and-suchmark,andsoon,describing
eachkindofsaidgoodswithalltheirmarksthatyoumightpossiblygiveandwithallthepossibleaccu-
racyastoweight,number,measurement, etc.
EighthItem
: Ihavesomanycasesofgingerbellidi,etc.,andsomanysacksofpepper,longpepper
orroundpepper,dependingonwhatitis;somanypackagesofcinnamon, etc.,thatweighsomuch ;so
manypackagesofcloves,etc.,thatweighsomuch,withfusiipolvercandcappellrttiorwithout,etc.,and
somanypiecesofverziniweighingsomuch,andsomuchsandalwood,redorwhite,weighingsomuch,and
soon,enteringoneitemafteranother.
NinthItem
:Ihavesomanyskinsforcoverings,thatis,somanywhitekidsandsomanyalbertoni
ormarchiani, etc.,somanyofsuch-and-such kind,etc.,somanyfoxskins,somanytannedandsomany
raw,somanychamoisskinstanned,andsomanyraw.
TenthItem :Ihavesomanyfineskins,forearmenti,dossivarii,zebelini,etc.,somanyofsuch-and-
suchkind,andsomanyofsuch-and-suchkind—definingdiligentlyandtruthfullyeachtime'sothattruth
willalwaysguideyou,etc.,distinguishing thethingsthatoughttobeenteredbypiecesfromthosethat
oughttobeenteredbyweight,andthosethatonglittobeenteredbymea.surcment,becauseinthesethree
waysbusinessisconductedeverywhere ;certainthingsarereckonedbythebu.shel,othersbythehundreds,
othersbythepound,othersbytheounce,othersbynumber,othersbyaconio(bysinglenumbers)asleath-
ergoodsorskins,othersbythepiece,aspreciousstonesandfinepearls,etc. ;soyouwillmakeanota-
tionofeachthing.Theseexampleswillserveasaguideforalltherest,etc.
EleventhItem :Ihaveinrealestate :first,ahousewithsomanystories,somanyrooms,courtyard,
wells,garden,etc.,situatedinSt.ApostleStreetovertheCanal,etc.,adjoiningsuch-and-such parties,etc.,
givingthenamesoftheboundarylineproperties,makingreferencetotheoldestandmostreliabledeeds,
ifthereareanj' ;andso,ifyouhavemorehousesindifferentlocalities,youwillentertheminasimilar
way.
35

44. ©idincrionanatrKbtii0.ri*.©ercr^hin0
Ducarifann"dcrjncdafcndfrrncrclfcanarcggjo-rcCucrogreivnofcrticricptc ivnof
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numfro:kUcjrrironeelaru.ip.irrirj.£Inomcoclfcriuanoclxncnoi«olib;o:aaoc6
pilltuafcciluaq-douaiafcorcrclipcflirrouarl&crocixmuliofficiibifognabaucrcniol
rifcoiunalcuolifperI3t'raiiniulnmdmcclxciiicruicne7c.£-notaclmueliinocbcrcfpo
da110aro;.i<^
P
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4
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gnomccli)cc:!.T,cquantoxcocbanoDorc:cp
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dabondaruia.0:aarcmpidcguerreecarcfljeOjaalempiocfamracmo2bi.jf5cqualitc
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lefieridxo?a1
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gallo.Qualecfraglialfridpiuiiigilanreanimalccbefia:eoiuernoeDtItatefalefuenoiur
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tc(\3amadxbahiaccrood?i.cIxancbo?anolifonobaftiti:neinwrneifarclLcqualco
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fuofigliuoIoOuandondcaro.
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frovulgarpocraalinedefimoacoforraoiccdoj^rnreparaftranialafangacl?marfcno
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lodiddxmufir3degnodieo?ona faluodxcbibsra Icgifimamctecombatturo7c.£Juc
i\ncordiliouoluuadiireperruaurilira.-aciononreparagrauclaccndianafolicifud»nc
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wruobio.^crcarcrpianipmamctcdreametJli ndicpoilaltrecofclepoaliefpiialifacil
36

45. TwelfthItem :1havesomanypiecesoflandundercultivation (fieldsorstaioreorpanora)etc.,enter-
ingthembythenameaccordingtotheusageofthecountrywliereyouare,sayingwheretheyaresituated,
etc.,as,forinstance,afieldofsomanytavole,orcanne,orpcrtichc,orbevolche,etc.,situatedinsuch-and-
suchtownintheProvinceofPaduaorsomewhere else,adjoiningthelandofso-and-so,givingallthe
boundarylinesandreferringtodeedsorthedescriptionfromtlierecorder's office,forwhichlandyou
paytaxesinsuch-and-such municipality,whichareworkedbyso-and-sowithayearlyincomeofsomuch,
andsoon;youwillenterallyourpossessions, etc.,cattle,etc.
ThirteenthItem: IhaveindepositwiththeCameradeI'lmpresti (abank),orwitlianotherbank
inVenice,somanyducats;orwiththeparishofCauareggio, etc.,orpartinoneparisliandpartinanother,
givingthenamesunderwhichtheyhavebeendeposited,mentioningthebookofthebank,thenumber
ofthepagewhereyouraccount is,andthenameoftheclerkwliokeepssaidbook,sothatyoucan
easilyfindyouraccountwhenyougotogetmoney,becauseinsticliofficestheynuistkeepverymanyac-
countsonaccountofthebigcrowdthatsometimesgoesthere,andyoumustalso.seethatdatesareputdown
preciselysothatyouknowwheneverything fallsdueandwhatthepercent.is.
FourteenthItem: Ihavesomanydebtors(dcbitort)
-.oneisso-and-so,whoowesme{medecdare—
shallgiveme)somanyducats,andsoon,givingthenamesofeachone,puttingdownallannotationsas
tothenames,theirfamilynames,andhowmuchtheyoweyou(tcdrbbonodore—shallhavetogiveyou)
andwhy ;alsowhetherthereai"eanywrittenpapersornotarialinstruments. IntotalIhavesomany
ducatstocollect,youwillsay,ofgoodmoney,ifthemoney isduefromgoodpeople,otherwiseyouwill
sayofbadmoney.
FifteenthItem : Iamdebtorintotaltotheextentofsomanyducats,etc. Iowesomanytoso-and-
so.Herementionyourcreditors(creditori)onebyone,writingdownwhetherthereareanydocumentsor
writingsorinstruments; ifpossible,mentionthepersonspresentwhenthedebtwasincurred,thereason,
thetimeandtheplace,foranycasethatmightariseincourtoroutofcourt.
CHAPTER 4.
VERYUSEFULADMONITIONANDGOODADVICETOTHEGOODMERCHANT.
Andso,aswehavesaid,youshallenterdiligentlyeverythingthatyouhave,whetherpersonalprop-
ertyorrealestate,onebyone,evenifthereweretenthousanditems,puttingdowntheconditionand
nature,whetherdepositedorloaned,etc.Youwillhavetomentioneachthinginproperorderinthesaid
Inventorywithallmarks,names,surnames—asfaraspossible—forthingsarenevertoocleartoamer-
chantonaccountofthedifferentthingsthatmayhappeninbusiness,asanybodyinbusinessknows.
Rightistheproverbwhichsays :Morebridgesarenecessarytomakeagoodmerchantthanalawyer
canmake.Whoisthepersonthatcancountallthethingsthatcanhappentoamerchant—onthesea,
onland,intimesofpeaceandabundanceandtimesofwarandfamine,intimesofhealthorpestilence ?
Inthesecriseshemustknowwhattodo,inthemarketplacesandinthefairswhichareheldnowinoneplace
andnowinanother.Forthisreasonitisrighttosaythatthemerchant islikearooster,whichofallthe
animals{animale) isthemostalertandinwinterandsummerkeepshisnightvigilsandneverrests.And
theysayofthenightingalethatitsingsthroughoutthewholenight ;however,thismaybeinthesummer
duringthehotweather,butnotduringthewinter,asexperienceshows.Alsoitissaidthattheheadofthe
merchanthasahundredeyes,andstilltheyarenotsufficientforallhehastosayortodo.Thesethingsare
toldbypeoplewhohavehadexperienceinthem,suchastheVenetians,Florentines,Genoans,Neapoli-
tans,Milanese,peopleofAncona,Brescia,Bragama,Aquila,Sienna,Lucca,Perugia,Urbino,Forosempro-
nio,Cagli,Ugubio,Castello,Brogo,Fuligno,Pisa,Bologna,P>rrara,Mantua,Verona,Vincenza,Padua,
Trani,Lecce,Bitonto,whichareamongthefirstcitiesofItalyandhavethefirstplaceincommerce—espe-
ciallythecitiesofVeniceandFlorence,wliichadoptrulesthatrespondtoanyneed.Andwellsaythe
municipallaws: Vigilantibus etnondormifntibusjurasubveniunt—whichmeans,Thelawhelpsthose
thatareawake,notthosethatsleep.SointhedivinefunctionsoftheHolyChurchtheysingthatGod
promisedthecrowntothewatchfulones,andthiswastheinstructionthatVirgilgavetoDanteastohis
son,inCanto24oftheInferno,whereheexhortshimtotheworkbywhichonecanreachthehillof
virtue :Now,myson,itbehoovesthatyouquityourlaziness,saidmymaster,forhewholieson
feathersorundercovei'swillneveramounttoanything.Whoeverspendshislifeinthisway,hesaid,
willleaveonthisearththesametraceasthesmokeintheairorfoamonthewater,etc. ;andanother
Italianpoetadmonishesusinthesameway,saying:Workshouldnotseemtoyoustrange,forMars
nevergrantedavictorytothosethatspenttheirtimeresting.Anditisalsoverygoodtoquotethat
sagewhosaidtothelazymantotaketheantasanexample ;andtheApostlePaulsaystliatnoonewill
beworthyofthecrownexcepthewhoshallfightvaliantlyforit.
Iwantedtobringintheseremindersfor.yourowngood,sothatthedailycareaboutyourbusiness
wouldnotseemheavytoyou,especiallythewritingdowneverythingandputtingdowneverj'dayevery-
thingthathappenstoyou,asweshallunfoldinthenexteliapters.Butaboveall,rememberGodandyour
neighbor;neverforgettoattendtoreligiousmeditationeverymorning,forthroughthisyouwillneverlose
yourway,andbybeingcharitable,youwillnotloseyourriches,asthepoetsays:Nrccaritas,nccMissa
minuiiiter,etc.AndtothisourSaviorexhortsusinthebookofSt.Matthew,whenhesays :Primum
qiiaeriteregulumdci,ethareomniaadiicieturvobis,whichmeans:Seekyou.Christians, firsttheking-
domofGodandthentheothertemporalandspiritualthings
87

46. BWnctfbnoiiaSractJfu«.ri*,©ffcripmrie 200
intm(cotiffqujfcff.T&crocbelpadrfvortroa\e^kraitto!rol'<ncroftrobiTctmo7c£H
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dK(cfiuc
.circfls^traftcoifdcIi^libjipjtci'pah'cclco?p6mccatefco. c".?
£quirao:alafecodapanepiindpaTcrclpMcntctractflfolacinalTidmocfHrc
!aj>i(fiofilionccnJaqiialfalqiiaropiulongotouiccbi'o(isxlx
i
lapitdereaben
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MnobiTognarc.^libri'ijpi'u fuaocftrffaecomodfta.liino o:tfomenio:iale.£laltronctto
£5io?iiflle.laIfroocrro.©uaderno.iluegadxmolrf
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gioj
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manegi)fcriiicdo fericbiaranolafandovniota£1(W.£lcl>e.£rouado.£lco
uetconirrefued3iareftc:eircticnjtcctiioapicnooifop?ainfoeTiocnwnoreojfli:fcn(apfu
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lo:ofonofc?a.£biafiicrerbiamcrcati'7c.£fololevoacaimgar^onireftanoacafacbe
fo:feapcnaf^nofenucre.£purelo:o5noneruiarcliaucnro:iconuengano v«nd(reir(cdf
rcrerpagaretec6p?arefeeodoIcTiMncdxralpjinnpalefifiafpoflo.£lo?ofecodolojopo
rreognifofawbonoferinereicirromcmonalenominado fcmplidmcrelemnetecpeK
dxfanotcrrarfo?eamrrefo:tewmonerre(l?ewndanoefop?anoueropaganocfcota
nopod?efftqueftotalenonfaeafoaebemoneraficsuifo?e.comonclgiojnaleequader>
nofcbriforrofedira'rccl'quadcmicri afttrarutropoiluiquadoreli};(oiK^igiomale.SicB
tornandopoilop:ineipalevedemttefucfacendeerafertalefcliparcafrramiretc.£pcrof
neceflariowrroIib20achifaafaifaccdc."^cbcferebefatigabclfegj'are:eperojdineegni
cofaIflpzimauoltamerrereililibnauaentieiceonP'Tigepearenuri.£iqCeftoeinmrrial'
rriprimaponereelfegnodifo?a1fulaeopra:aeiondfuceefTorelefaccdcUadcpitno6feri
pturauerofojnitoeerrorepop
laqualeofaruvjojraivnalrrolibjop:endcre.ouerodenc
eeffirarerouerraquadoqucftofofkpieno.£^^aleoolremoUicoflumanol'Wuerfe pt<:b?
dxr\6fiapienoanoualircrefarfaJdieandxlil\h:\niiomconiooefotroifederai.£ioirro
feeoiidolm:operoeWroojdinebifognarenouarefegnaleoifcrenrei>alp:imo:atiotJcrem'
pointcpofipolTaeop:eft«<arrouareIg7of3(ede,-^er raliiicanco?amiIefimo.£perob</
nefiecftumafraliuerieorolwfegflareUp:imilo7ol»b:i:dequelglon'ofofegnocolqCfiig
giognini^ftrofpirirna!nemieo:e(aearcruamrrainfernalmcriramcnrerremaddfe$no:
cioedelafanetaeroridalqcaleaneojandirenerianniafpararpelegcrelalfabcrocomen
^afti.£poilifeqtictilib?»fegnaraipero:dinewlfabero:rK>ct>c.B.£^>oiIirct^"dcli}^.7i.
©ifco?rendoperojdinedlalfabcro.£cljjamafejpoilib2icroacioe t^f^emo«alcroci
fJi'oanalcrodteioe fiuedernocroeitdoe ^Ifaberdonero crrrartocrodieioe. 're.
£poiafiferil«b?ifcO'dflBcmo^ial.B ,]^io:nal.5.(©uadcmo.S.7c.£vcturttqudhU;
b:i.dnumeronelo?earrificonucnfcgnarepermoiri rcfpeericeaurdccbcaloperanrefart
norebifogno.Bucugadxmoltioicbinondgiojnaleememo:i3lenonbifofnarcp<fx
IccofefegiiidanoifiUareadipdi:vnafotrolalrradxfiataftanreaI02rirrotiare.CbX
(iitclioijxboflodnerofcIcfacendedcvnagiomaranonpalTalTcrovnaearja.ifJdanoivf'
dunOcbfrnoWitrolTirrafieanri nondxnnaeartamadoictrencpirano invngtdJno«
lequal.poiCdjioc'encfarmale^neporrebbetagfiareecauareuna-laq'wlIraudert3fipd'
crcbcpoipermadligiojmcognofccrcnetjifccmcre.iper cbclidifonqucllidxfc^aduWo
38

47. youwilleasilyobtain,becauseyourHeavenlyFatherkuoweverywellyourneeds,etc.
AndthisIhopewillbesulBeientasaninstruction foryoutomaketheInventory, etc.,andtodo
otherthingswell.
CHAPTER 5.
SECONDPRINCIPALPARTOPTHISTREATISENAMEDDISPOSITION(ARRANGE-
MENT)—WHATISUNDERSTOODBYIT—WHATITCONSISTSOFINBUSINESS,ANDTHE
THREEPRINCIPALBOOKSOPTHEMERCHANT.
Comesnowthesecondprincipalpartofthistreatise,whichiscalleddisposition,andofthisIhave
totalkmoreatlengththanofthefirstpart,inordertomakeitveryclear. Iwilldivideitintwoparts.
Weshallcalltheone,Corpoovcromontedesuttoeltrafico;theother,Corporoveromontedeiotega(Com-
merceingeneral,andYourstoreinparticular)
.
First,weshallspeakofcommerceingeneralanditsrequirements. ImmediatelyaftertheInventory,
youneedthreebookstomaketheworkproperandeasy.OneiscalledMemorandum (Memoriale), the
secondJournal(Giornalc),andthethirdLedger(Quadcrno). Many,onaccountoftheirsmallbusiness,
useonlythelasttwo,thatis,thejournalandtheledger.
Weshallspeakaboutthefirst—thatis,ofthememorandumbook,andthereafteroftheothertwo,about
theirmakeup,andhowtheyshouldbekept.Firstofall,wewillgivethedefinitionofthememorandum
book.
CHAPTER 6.
OPTHEFIRSTBOOK,WPIICHISCALLEDMEMORANDUMBOOK(MEMORIALE),OR
SCRAPBOOK[SQUARTAL06LI0),ORBLOTTER(VACHETTA).WHATISUNDERSTOOD
BYITANDHOWENTRIESSHOULDBEMADEINITANDBYWHOM.
Thememorandum book,or,accordingtoothers,scrapbookorblotter,isabookinwhichthemer-
chantshallputdownallhistransactions,smallorbig,astheytakeplace,daybyday,hourbyhour.In
thisbookhewillputdownindetaileverythingthathesellsorbuys,andeveryothertransactionwithout
leavingoutajot;who,what,when,where,mentioningeverything tomakeitfullyasclearasIhave
alreadysaidintalkingabouttheInventory,sothatthereisnonecessityofsayingitoveragainindetail.
Manj'areaccustomedtoentertheirinventoryinthisbook,butitisnotwisetoletpeopleseeandknow
whatyoupossess. Itisnotwisetoenterallyourpersonalpropertyandrealpropertyinthisbook.This
bookiskeptonaccountofvolumeofbusiness,andinitentriesshouldbemadeintheabsenceoftheowner
byhisservants,orhiswomenifthereareany,forabigmerchantneverkeepshisassistantsidle ;theyare
nowhere,nowthere,andattimesbothheandtheyareout,someatthemarketplaceandsomeattend-
ingafair,leavingperhapsathomeonlytheservantsorthewomenwho,perhaps,canbarelywrite.These
latter,inordernottosendcustomersaway,mustsell,collectorbu.y,accordingtotheordersleftbythe
bossorowner,andthey,aswellastheycan,mustentereverytransaction inthismemorandum book,
namingsimplythemoneyandweightswhichtheyknow;theyshouldnotethevariouskindsofmoney
thattheymaycollectortakeinorthattheymaj'giveinexchange.Asfarasthisbookisconcerned, it
isnotasimportanttotransfertostandardsthevariouskindsofcoinhandledasitiswiththejournaland
ledger,aswewillseehereafter.
Thebookkeeperwillputeverythinginorderbeforehetranscribesatransaction inthejournal. In
thisway,whentheo^^^lle^comesbackhewillseeallthetransactions,andhemayputtheminabetteror-
derifhethinksnecessary. Therefore,thisbookisverynecessarytothosewhohaveabigbusiness. It
wouldbetoomuchtroubletoputdowninabeautifulandorderlywayeverytransactionimmediately
afterittakeplace,inbookswhicliareauthenticandkepineatwithcare.Youmustmakeamarkon
thecoverofthisbook,aswellasonalltheothers,sothatyoucandistinguishthemwhen,intheprocess
ofthebusiness,thebookisfilledorhasservedforacertainperiodoftimeandyoutakeanotherbook.
Youmusttakeanotherbookwhenthefirstonehasbeenusedentirely,yetmanyareaccu.stomedindiffer-
entlocalitiestobalanceannuallythesebooksalthoiiglitheyarenotfull ;andtheydolikewisewiththe
otherbooksnotyetmentioned, asyouwillse(^hereafter.
Onthesecondbookyoushouldputanothermarkdifferentfromthefirst,sothatatanj'timeyoucan
traceyourtransaction easily.Forthispurposeweusethedate.AmongtrueChri-stiansthereisthegood
customtomarktheirfirstbookswiththatglorioussignfromwhicheveryenemyofthespiritualfleesand
beforewhichalltlieinfernalspiritsjustlytremble—thatis,theholycross,bywhichinourtenderyears
webegintolearntoread.Thebooksthatfollow,youmaymarkinalphabeticalorder,callingAthe.sec-
ond,andBthethird,etc.SotliatwecallthefirstbookswiththeCross,orMemorandumwithCro.ss,and
thesecondMemorandum A,JournalA,LedgerA.Thepagesofeachofthesebooksoughttobemarked
forseveralreasonsknowntothemerchant,althoughmanysaythatthisisnotnecessaryfortheJournal
andMemorandum books.Thetransactionsareentereddaybyday,oneundertheother,insuchwaytliat
itmaybeeasytotracethem.Thiswouldbeallrightifallthetransactions ofonedaywouldnottake
morethanonepage ;but,aswehaveseen,formanyofthebiggermerchants,notone,butseveralpages
havetobeusedinoneday.Ifsomeonewouldwishtodosomethingcrooked,hecouldtearoutoneofthe
pagesandthisfraudcouldnotbediscovered,asfarasthedatesareconcerned,forthedayswould
SO

48. polTanofucccniii.inicnrcfcQuircitionrinuncoclmancamenrodrafatro.^iclxperqfto
cjilmafaircfpccrifaiipzccbuononuincrarc£figiwrcinturnlil^2imcrcjiircftbi.fdica
facdit>o«c«.ituncIcearn7C. ca'.?
Delmocomo imdtiluogljifcIwbfoauacricarcturriU'ltb^imercatefcbie pcbedacbi.
[
Q.iic(htalilibJicoiiucgofif«coudo'Iufjin;eboneocoiucrfipaefiindiqunl(Uio
-
la!?iimforarouaroponarli:eaprcfcnrarliamtoofficioxxnicrcarancoino("on
[noconMiiielaciraocpcrofaealo?onarrarccoinoquefh"fonolirotlibjiiliqli
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tanicrc.£oircacbemonetcruliuolitcrurc:cioea.^.pepirioli:oucroa.S.Oe$iofTcoucro
aduc.e-S.TC.iDwoafio.cX.o.o^>o3.§.rarigrani.o.tclLc qlcofc(epKclrealnifrcararc
ftclpjicipiocognifuo(ibzorxucpocrcncllap''carta.£qpdomanofcmutalTciieliaferipni
raralrridxm\pzinpiofcoiecfTctconucnfcpuiadddittoorficioci^iarirlo.£1fauiapoi6
tuttociofainctiocircgifltrideoittoofikiocoinoipioinip^cfcniaflttalicraliiibjifegna
hdcltalfeccno7c.£bi3marolucoficlalrrocofiTc.biqiielfaleatantecarriclraletare7c
li'qualipil^oouerccllfcrc reiittri
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innomcdelolTicioftriuaradmfdcfimoncllap?imacartaoclituoilihn'xfarafedeofm
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durli.£qucftaralufan^ameriiflfumametccfTerecomcdeta7C.£(ofi\iluogbicbelaobfcr
uano.T&crod?cmolrirccjanolilo?olib:ioopii.'Qno'nemoltranoalconp:3fo?ecIslcroal
uer.diroy.cd?cpegiocfeconddquello gi'iiranocTpgiurano7c.cbcnialiifiofino.£
^^
piuiadotficiodegnoandando-.nopolTaHOcofidcfacilidirbufna:nefraudareci.primo2c
tSquailpoicondiligentfegnarieo:dinatamcnrfjMlpoftitutcneuafc6lonomcadip
acafaagomecarcafcriucrenicfocedcj£p:imandgjornal?poncreperojdiimturtelepHrc
PClomucntanonclmododxfcquaiccinicndcrai.£K>apzimainrcndic6i»enclmemonale
fccortmnadircTc.
£6itiofcdcbinodittarcIcpamtc iontomcmonalecocrepli ca'.j
3acoirrofcbeneAiamcntceomoidittomemo.nalr.oucrouaclxtfa:orcrofqr
tafadofccondoaimdxogjiunomtuoilipofcnuerc.£pcroodoitraretalpnrc
ie(fonofipot)ar«picnadocn^ina.f&crocbecbiintcdera:ecbinonditoidica'
fa.flf>adcdmncoflamccquefJoooce^f^ctamod?cnil?abic6p:atoalquanrc
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ptitacofidicedonor3^qucftowJMbtamooucrolooc6p:atodaffclipodcrufoioabref
fa|p3nin'.Jcbiacbib^efTaiportiifiilouolradifilefaora^IiapictraTcMogaliiai>kpc<,xc
ric6uctobt^.tari7C,l5)frDuc'-tannliinaTcfcgnatfoclralTC.nomuiado fcfonoatrclici
oucroalapianabafUoaltifiniomccaibcrgamofd*!ouiqctiniovcrocfipadoanifiojciiiil
omatoii7c.£fimilitcrnominarfccifclTefcnfalccnarrarYdmercatofoacoifltituttooko
partecotaticptetcrmeue:edirquitotcpo.GucronoiarfcfolTcptc6.t6tatieparterobbc
£(pccificared?crobberdcnumcropciccmifura£acbep?cgiod.t3f>°.oek'':oucro
.S.-
oueroflrafodecontoTc.Oucrofefoflcrofum'atcpoe narrarcdjctermic.Odegalieo
barutto.odcgalieoefiadraoderctornioenauiic.£fi>ccificarclainutadcdittcgalie.O
©cnam7c.ofcfoflrctermincoc fiere^oaltrcfolcnita:conimoperlafcnfapjorinufurura
7f.0ucroplapafquadenadal7c.oucroDcrel'ureri.oucrocaricuale7c.p\uemacofi6o
cbcuoie6dude(lc elmcrcato.£finalitcr idittomcmonalenoficonuernalaflarcpoioalcu
no£fepodibilcfoflcoirquatcparollcucfinterpofcroydx(c6monelmucntariofoprafo
dctto)almcrcanrckcbigrcqqcmaifo:dtroppo7c.
Dcli.g.modip
liqualitomunamcteficoflunia fraliincrcaricc)p?arccdcUmcrcaticqua
Ipiuolenolfcoencccdita atcmpoficomprono. ca*-?
l^oicbe3lcomp7ar<fianionotadxqudloibc rucompelpoacadfrecoinuuQ'
mcT)rei.9.111odrctocaoenaricontant i.oucroatcrnunc.ovcroainuonrrodar
robba-Qualcfiocdmunamentceditiobwafto-o ucroapreo-cparrcrcrmico
vcroapartecomJticparterotibc.oucroapicrobbe.epretcrmincovcrop
afc
gnationcdcditta.oucroparteioittacptetermieaic.oucroptcoiitaepaneroW^al^l"1>
qli•9.modtclpiudeleaoltcfecoftuniacomp?are.£feperaltrouerfofacdicm
ucllit.T.ic^l
40

49. followproperlyoneaftertheother,andyetthefraudmayhavebeencommitted. Therefore,forthisand
otherreasons,itisalwaysgoodtonumberandmarkeachsinglepageinallthebooksofthemerchants ;the
bookskeptinthehouseorkeptinthestore.
CHAPTER 7.
OFTHEMANNERINWHICHINMANYPLACESMERCANTILEBOOKSAREAUTHEN-
TICATED,WHYANDBYWHOM.
Allthesebooks,accordingtothegoodcustomsofseveralcountrieswhere1havebeen,shouldbetaken
andshowntoacertainmercantile officersuchastheConsulsintheCityofPerosaemploy,andtohim
youshouldstatethatthosearethebooksinwhichyouintendtowritedown,orsomebodyelsewritedown
foryou,allyourtransactions inanorderlyway ;andalsostateinwhatkindofmoneythetransactions
thereinshouldbeentered—thatis,whetherinlirediPicioli,orinlirediGrossi,orinducatsandlire,
etc.,orinjlorinsanddenari,orinounces,tari,grani,denari,etc.Thegoodmcrcliantshouldputdown
thesethingsalwaysonthefirstpageofhisbook,andifafterwardsthehandwritingshouldbedoneby
somebodyelsethantheonestatedatthebegiiuiingofthebook,thisshouldberecordedattheofficeofthe
saidofficer.Theclerkshouldmentionallthisintherecordsofthesaidofficer—thatis,onsuchandsuch
adayyoupresentedsuchandsuchbooks,markedwithsuchandsuchmark,whichbooksarenamed,one
so-and-so,theotherso-and-so, etc. ;ofwliichbooksonehassomanypages,anothersomany,etc.,which
booksyousaidwouldbekeptbyyouorbyso-and-so ;butthatitmaybethatinsaidMemorandumBookor
ScrapBookorBlotter,somepersonofyourfamilymightentersaidtransaction,asexplainedbefore. In
thisease,thesaidclerkshallwritedownonthefirstpageofyourbooks,inhisownhandwriting,thename
ofthesaidofficer,andwillattesttothetruthofeverythingandshallattachthesealofthatofficetomake
thebooksauthenticforanycaseincourtwhentheymightbeproduced.
Thiscustomoughttobecommendedexceedingly ;alsotheplaceswherethecustomisfollowed.Many
keeptheirbooksinduplicate.Theyshowonetothebuyerandonetotheseller,andthisisverybad,be-
causeinthiswaytheycommitperjury.Bypresentingbookstothesaidofficer,onecannoteasilylieor
defraud. Thesebooks,afterthej'havebeencarefullymarkedandauthenticated, shallbekeptinthename
ofGodinyourownplace,andyouarethenreadytostartyourbusiness.Butfiirstyoushallenterinan
orderlywayinyourJom'nalallthedifferentitemsoftheInventoryinthewaythatIwilltellyoulater.
ButfirstyoumustunderstandhowentriesshouldbemadeinthisMemorandumBook.
CHAPTER 8.
HOWENTRIESSHOULDBEMADEINTHESAIDMEMORANDUMBOOK,ANDEXAM-
PLESOFTHESAME.
Wehavesaidalready, ifyouwillremember,thatanyoneinyourfamilycanmakeentriesinthe
saidMemorandumBook,orScrapBookorBlotter. Therefore, itcannotbefullystatedhowtheentries
shouldbemade,becausesomemembersofyourfamilywillunderstandandsomewillnot.Butthecom-
moncustomisthis :Letussay,forinstance,thatyouboughtseveralpiecesofcloth—forinstance,20
whitebresciuni,at12ducatsapiece. Itwillbeenoughsimplytomaketheentryinthisway:Onthis
daywehaveorIhaveboughtfromMr.Filippod'RufoniofBrescia,20piecesofwhitehresciani.These
goodsareatMr.StefauoTagliapietra 'splace ;onepieceissolong,accordingtotjieagreement,andpaid
foratsomanyducats,etc.,markedwithsuchandsuchnumber,etc.Youmentionwhethertheclothis
atrelici,oralapiana,wideornarrow,fineormedium,whetliertheBergamokind,orVincenza,or
Verona,orPadua,orFlorence,orMantua.Alsoyouhavetostateherewhetherthetransactionwasmade
throughabrokerandwhetheritwasmadeincashentirelyorpartonlyincashandpartontime,stating
thetime,orwhether itwaspartincashandpartintrade.Inthiseaseyoumustspecifythethingsthat
weregiveninexchange,number,weight,measurement,andthepriceofthebushelorofthepiece,orof
thepound,etc.,orwhetherthetransactionwasallbypaymentontime,statingthetimewhenthepayment
shouldbemade,whetheronGaliadeBarutto,oronOaliadeFiandra,oronthereturndayofaship,oron
thedateofsomefair,orotherfestivity,asforinstance,onthenextliarvestdayoronnextEaster,oron
nextChristmas,oronResurrectiondayorCarnivalday,etc.,accordingtowhatwasunderstood inthe
transaction. Finally,Imustsaythatinthismemorandumbooknothingshouldbeomitted. Ifitwerepos-
sible,itshouldbenotedwhatmanyothershadsaidduringthetransactionbecause,aswehavesaidabout
theInventory,themerchantnevercanbetooplain.
CHAPTER 9.
OFNINEWAYSINWHICHTHEMERCHANTUSUALLYBUYS,ANDTHEGOODSWHICH
ITISMOREORLESSNECESSARYTOBUYONTIME.
Sincewearetalkingaboutbuying,youmustknowthatusuallyyoucanmakeyourpurchaseinnine
ways—thatis:eitherincashorontime ;orbyexchangingsomething,whichisusuallycalledatrade
;
orpartlyincashandpartlyontime
-orpartlyincashandpartlybytradingandpartlyontime ;orby
draft{assegnationededitto)
;orpartlybydraftandpartlyontime,orpartlybydraftandpartlybytrad-
ing.Intheseninewaysitiscustomarytomakepurchases. Ifyouwo\ddmakeyourpurchases insome
otherway
41

50. Bidindonoru.Zricatu^.ri'.Srfcrfpfttria
io»
modopiopiiaiscbctucgliaUripaknclnicmoaalcUnjmapoiuoconum'racfjraibe
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*
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i
42

51. youmuststateinyourraemorandumbookwithprecisionthewaythatyouhavemadethepurchase,orhave
somebodyelsedoitforyou,andyouwilldowell.
Youbuyoutimeusuallywhenyoubuyguatioroats,wines,salt,remnantsfromabutchershop,and
fats.Intheseeases,thesellerpromisestothebuyertogivealltheyitatithathewillhaveinthatseason.
'
Thebutcherwillsellyouantlpromisestogiveyouallthehearts,skins,fat,etc.,tliatliewillhaveduring
thatyear.Thiskindforsomuchapound,tliatkindforsomuchapound,etc.,andsiiuilarlj'forthefat
ofbeef,ofmutton,etc. ;thebhickskinsofmuttonatsomueliapiece ;andthewhitemuttonskins,etc.,and
sowiththeoats,orguati;youmustspecifythepriceforeachbushelorothermeasureandthekindofoats
asisthecustomatChiusidePerugia. InbujangguatiyoumustseewhethertheyareofourcitySanSe-
polcro,orMercatello,orSant'Angelo,orCittadeCostello,orForli,etc.
Inthismemorandumbook,wlietherkeptbyyouorbyotliers,youmustmentioneverysinglepoint.
Youstatetliethingsinasimplewayastheyhappened,andthentheskillfulbookkeeper,afterfourorfive
days,oreightdays,mayenterallthesetransactionsfromthesaidmemorandiunbookintotheJournal,day
byday;withthisdifference,though,thatitisnotnecessaryforhimto]iutdownintheJouriud allthe
longlinesofwordsthatwereusedinthememorandum book,because itissufficienttoputthemdownin
anabridgedway,andbesides,referencesshouldalwaysbemadefromonebooktotheother. Tliosi-that
areusedtokeepingthesethreebooksinthewaywehavesaidnevermustenteronethinginJournal if
theyhavenotfirstentered itinthememorandum book.Thiswillbeenoughastothearrangement of
thesaidmemorandumbook,whether itiskeptbyyouorothers.Rememberthatthereareasmanywaj's
tobuyastosell ;therefore, Ineednotexplainthewaysof.selling,becauseyouknowingofthewaysof
buyingcanunderstandtheselling.
CHAPTER 10.
THESECONDIMPORTANTMERCANTILEBOOKWHICHISCALLEDJOURNAL;WHAT
ITIS,ANDHOWITSHOULDBEKEPTINANORDERLYWAY.
ThesecondcommonmercantilebookiscalledtheJournal{Giornah) which,aswehavesaid,must
havethesamemarkthatisonthememorandumbookandthepagesmarkedaswehavesaidintalkingof
thememorandum book.
Alwaysatthebeginningofeachpageyoumustputdownthedate,andthen,oneafteranother,enter
allthedifferentitemsofyourinventory.
InthisJournal,whichisyourprivatebook,youmayfullystateallthatyouowninpersonalorreal
property,alwaysmakingreferencetotheinventorypaperswhichyouorothersmayhavewrittenand
whicharekeptinsomebox,orchest,orfiha,ormazzo.orpouch,asiscustomaryandasisusuallydone
withlettersandotherinstrumentsofwriting.
ThedifferentitemsenteredinthesaidJournaloughttobeenteredthereinaneaterandmoresyste-
maticway,nottoomanyortoofewwords,asIwillshowinthefewfollowingexamples.Butfirstofall
youmustknowthattherearetwowordsorexpressions [termini)necessaryinthekeepingofaJournal,
usedaccordingtothecustomofthegreatCityofVenice,andoftheseIwillnowspeak.
CHAPTER 11.
THETWOEXPRESSIONSUSEDINTHEJOURNAL,ESPECIALLYINVENICE.THEONE
CALLED"PER,"ANDTHEOTHER"A,"ANDWHATISUNDERSTOODBYTHEM.
Aswehavesaid,therearetwoexpressions(termini)usedinthesaidJournal ;theoneiscalled"per,'"
andtheotheriscalled"a,"eachofwhichhasameaningofitsown."Per"indicatesthedebtor(dehifore)
oneormoreasthecasemaybe,and"a,"creditor(creditore),oneormoreasthecasemaybe.Neveris
anyitementeredintheJournalwhichalsoistobeenteredintheLedger,withoutpreceding itbyoneof
thetwoexpressions.Atthebegiiniingofeachentry,wealwaysprovide"per,"because, first,thedebtor
mustbegiven,andimmediatelyafterthecreditor,theoneseparatedfromtheotherbytwolittleslanting
parallels(virgolette) ,thus,//,astheexamplebelowwillshow.
CHAPTER 12.
HOWTHEENTRYSHOULDBEMADEINTOTHEJOURNALBYMEANSOFTHEDEBIT
ANDTHECREDIT,WITHMANYEXAMPLES.THETWOOTHEREXPRESSIONSUSEDIN
THELEDGER,THEONECALLED"CASH,"ANDTHEOTHER"CAPITAL."ANDWHAT
SHOULDBEUNDERSTOODBYTHEM.
WiththenameofGodyoushallbegintoenterintoyourJournalthefirstitt'niofyourInventory,
thatis,thequantityofcashthatyoupossess,andinordertoknowliowtoenterthisInventoryintothe
LedgerandJournal,youmustmakeuseofthetwootherexpressions {termini)
;theonecalled"cash"
(cassa)andtheother"capital"(cavednle).Bycashisunderstoodyourpropertyorpocketbook(boracia:
frombursa,orbag)
;bycapitalisunderstoodtheentireamountofwhatyounowpossess.
Thiscapitalmustalwaysbeplacedascreditor(creditore) inallthepi'incipalmercantileLedgersand
Journalsandthecashalwaysdebtor.Neveratanytimeinthemanagementofyourbusinessmaycashbe
creditor,butonlydebtorluilessitbalances.Forif,inbalancingyourbook,youfindthatcashisinthe
credit,itwoulddenoteamistakeinthebook,asIwillremindyouhereafteratitsproperplace.Nowthis
entryoughttobemadeintheJournal,andoughttobearrangedinthisway
:
43

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cofioeuccerep'.ndqderno.£mttaqllafaciata.filolluinabfarlaftareperoittacolla.fin
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44

53. EXAMPLEOFMAKINGANENTRyINTHEJOURNAL.
FIRST.November 8,MCCCCLXXXXIII iuVenice.
Debit1. = Percash//A—Capitalofmyselfsoandso,etc.IncashIhaveatpresent,ingold
Sandcoin,silverandcopporofdifferentcoinageasitappearsinthefirstslieetoftlieIn-
Credit2. ! ventoryincash,etc.,intotalsomanygoldducatsandsomanysilverducats. Allthisis
1 ourVenetianmoney ;thatiscounting24rjrossiperducatand'62piciolipergroxsoingold
J isworth: L (Atre),S (Soldi),G (Grossi),}' (I'ieioli).
Fortheseconditemyoushallsaythisway
:
SECOND. Permountedandunmountedpreciousstonesofseveralkinds//.Acapitaldittoforso
manymountedbclassi,etc.,weighing, etc.,andsomanysapphires, etc.,andrubiesanddiamonds, etc.,as
thesaidInventorysliowstowhich,accordingtocurrentpricesIgivethesevalues: Bclansiworth,etc.;
andsoyoushallstateapriceforeachkindintotalthatareworthsomanyducats.Theirvalueis
L
,S ,G ...,P..^
Afteryouhaveoncenamedtheday,thedebtorandthecreditor,youmaysayforbrevity—ifyou
don'tmakeanyotherentryinbetween;Onthedayditto,perditto,//aditto.
THIRD.Persilver//.Aditto—bywhichcapitalisunderstood—forseveralkindsofsilverwhichat
presentIpossess—thatis,washbasinssomany,somanycoppers,somanycups,somanypirotii,andso
manycosilicr,etc.,weighingintotalsomuch.Theirvalueis
:
L
,S
,G ,P
YoushallgiveallthedetailsinenteringtheseitemsforeverythingasyouhavethemintheInven-
tory,givingtoeachthingacustomaryprice.Makethepricesratherhigherthanlower;forinstance,ifit
seemstoyouthattheyareworth20,youputdown24,sothatyoucanmakealargerprofit;andsoyouwill
entereverything,puttingdownforeachthingitsweight,number,value,etc.
FOURTH.Perwoolenclothes//.Aditto,forsomanyclothesofsuchandsuchcolor,etc.,ofsuch
andsuchstyle,etc.,lined,etc.,neworused,etc.,formyselforformywifeorformychildren, Igivethe
totalvalue,accordingtothecurrentprice,somanyducats.Andforcloaks,somanyofsuchandsuch
color,etc.,andsoon,foralltheotherclothes: L
,S ,G
,P
FIFTH.Perlinen//.Aditto,forsomanybedsheets,etc.,andputdowntheirnumberandvalue
astheInventoryshows: L
,S ,G ,P
SIXTH.Perfeatherbeds//.Aditto,etc.,forsomanyfeathers—andhereputdownallthattheIn-
ventoryshows,numberandvalue
:
L
,S
,G
,P
SEVENTH. Perginger//.Aditto,forsomanypackages, etc.,givingallthedetailsthatarecon-
tainedintheInventory,number,value,accordingtocommonprices,etc.,somanyducats:
L
,S
,G ,P..
Inthiswayyoucancontinuetoenteralltheotheritems,makinga.separateentryforeachdifferent
lot,andaswehave.saidbefore,givingthecurrentprices,number,marks,weights,astheInventoryshows.
Indicateonlyonekindofmoney,towhichyoureducetheestimatedvalues.Inthecolumnforthe
amounts,onlyonekindofmoneyshouldappear,asitwouldnothi-ftrojicrtohaveappearinthiscolumn
differentkindsofmoney.
YoushallcloseeachentryintheJournalbydrawingalinefrom tli(;endofthelastwordofyourde-
scriptivenarrative(explanation)uptothecolumnofthffigures.Youshalldothesameinthi;memoran-
dumbook,andasyoutransferanentryintotheJournalfromthememoranduin book,yonshalldrawa
singlediagonalline(unasolarigaatruvf-rao)through itinthisway/:thiswillshowthatthisitemhas
beenentered(pasta)intheJournal.
Ifyoushouldnotdrawthislinethroughtheentry,youshallcheekoffilanciurai)thefirstletterof
thebeginningoftheentrj',orthelastlettiT,aswehavedoneatthebeginningofthis ;orotherwiseyoushall
usesomeothersignbywhichyouwillunderstandthatthesaiditemhasbeentransferredintotheJournal.
Althoughyoumayu.Sf;manyvariousanddiversexpressionsormarks,nevcrtheleasyounnisttrytouse
thecommononeswhichareusedbytheothermerchants,sothatitwillnotlookasifyouwoulddeviate
fromtheusualmercantilecustom.
CHAPTER 13.
THIRDANDLASTPRINCIPALMERCANTILEBOOKCALLEDTHELEDfiER.HOWIT
ISTOBEKEPT.ITSALPHABETriNDP^X;,ANDHOWTHISCANBEKEPTSINGLEAND
DOUBLE.
AfteryouhavemadeallyourentriesintheJournalinanordi-rlyway.youmusttransfi-rthemtothi-
thirdbook,calledLedgr-r(QuadnrnoOrandf, i.e.,bigbook).ThisLedgercontainsusually-twicfa.smany
fjagesastheJournal. Inittheremustb<-analphab-torrepertoryor"trovrirfdlo" (findingki-y)accord-
ingtosome;theFlorentines callit"Stratto." Inthisindexyoushallwritedownallthedebtorsandcred-
itorsintheorderoftheirinitialletter,togetherwiththenumberoftheirrespectivepages.Youshallput
thenamesthatbeginwithAintheApage,etc.
ThisLedger,aswehavesaidbefore,mustbearthesamesig^ormarkthatisontheJournalandmem-
orandumbook:itspagesshouldberiumbi-rfd ;andatthetopattherightmarginaswellasattheleft
margin,you.shallputdownthedate.Onthefirstpageyoushallentereashasdebtor.AsintheJournal,
sointheLedger,cashshouldbeenteredonthefirstpage. Itiseustomar>'toreservethewliojeofthefirst
pagetocash,andnottoenteranythingelseeitherunderthedebit(indare)orthecredit(inhavrrr}.
Thisbecausethecashentriesaremorenumerousthanallothersonaccountofalmostcontinuouslypaying
outandreceivingmoney ;therefore, itneedsmuchspace.ThisLedgermu.stl)eruled,andshouldhaveas
manylinesastherearekindsofmonej'thatyouwanttoenter. Ifyouenterlire,soldi,dcnariandpicioli,
youshalldrawfourlines,andinfrontoflirfyoushalldrawanotherlineinordertoputinthi-number
ofthepagesoftheLedgerdebitandcreditentries.
45

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firaftgnatocroacommolialtn.
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oclquadernodJeinlcfucmargincfiponccedx. Cap° 14.
£rlaqualcofa.fappicbeoitutrelej^ritecl?ctubaraipofteinlogiojnalc.alqwa
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logiojnale.gdx I'.gtirainqu9dcrno.b3radiucrfidi.£ gonofipo:rafcruaro:dmcddi
di.difopracoeapienondfeqntecap'.fedira.iOfbadctrodclagtitaib<.intcderailap'uolta
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piubellc^a
^
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46

55. Beforetheselinesyoushalldrawtwomorelineswhereintomarkthedatesasyougoon,asyouhaveseen
intheotherbooks,sothatyoumayfindeachitemquickly. Thisbookshallalsobearthesignofthecrosa
astheothers.
CHAPTER 14.
HOWTHEENTRIESSHOULDBETRANSFERREDFROMTHEJOURNALINTOTHE
LEDGERANDWHY,FOREACHENTRYOFTHEJOURNAL,YOUHAVETOiVIAKETWOIN
THELEDGER;HOWENTRIESINTHEJOURNALSHOULDBECANCELLED.THETWONUM-
BERSOFTHEPAGESOFTHELEDGERWHICHAREPLACEDINTHEMARGINOFEACH
ENTRYANDWHY.
ForeachoneofalltheentriesthatyouhavemadeintheJournalyouwillhavetomaketwointhe
Ledger.Thatis,oneinthedebit{indare)andoneinthecredit{inhavere).IntheJournalthedebtorisin-
dicatedbyper,thecreditorbya,aswehavesaid.IntheLedgeryoumusthaveanentryforeachofthem.
Thedebitorentrymustbeattheleft,thecreditoroneattheright ;andinthedebitorentryyoumustindi-
catethenumberofthepageoftherespectivecreditor.InthiswayalltheentriesoftheLedgerarechained
togetherandyoumustnevermakeacreditentrywithoutmakingthesameentrywithitsrespectiveamount
inthedebit.Uponthisdependstheobtainingofatrialbalance{bilancio)oftheLedger.
Therecannotbeaclosing{saldo)becausetheremustbeasmuchincreditasthereisindebit.
Inotherwords,youshalladdtogetherallthedebitentries,eveniftherearetenthousand,onaseparate
sheet,andthenaddtogetherinthesamewayallthecreditentries ;thetotalsoftheoneshouldbethesame
asthetotalsoftheother ;otherwise itwouldshowthatsomemistakehasbeenmadeintheLedger.We
willspeakatlengthaboutthiswhenwetalkaboutthewayofmakingthetrialbalance{bilancio).And
sinceforoneentryoftheJournalyoumaketwointheLedger,youshalldrawtwodiagonallinesasyou
makethetransfer—thatis,ifyoufirsttransferthedebitentry,youshallfirstdrawadiagonalline{riga
atraverso)atthebeginningoftheentryintheJournalwhichshowsthattheentryhasbeenposted{posta)
tothedebitintotheLedger. Ifyoutransferthecreditentry,eitheratthistimeorlater,asitoftenhappens
thatthebookkeepercanmaketwoorthreeentriesonthesamepageinordertopreventhiscomingbackto
writeonthatsamepage—inwhichcaseheshoulddrawalineattherightsidewheretheentryterminates.
ThiswillshowthattheentryhasbeentransferredtothecreditoftheLedger.Thesetwolines,youmaysee
intheprecedingdiagram,drawninthemarginbythefirstcashentry ;theoneiscalleddebitline,andthe
othercreditline.Attheside,inthemarginalpart,youshallwritedowntwonumbersbeforethebeginning
oftheentry,theoneundertheother.TheupperindicatesatwhatpageoftheLedgerthedebitentryis,
andthelowerindicatesthepageoftheLedgerwherethecreditis,asyouwillseeatthecashentryinthe
aboveexample,likethis
I,
withoutalinebetweenthem.Someareaccustomedtodrawalineinbetween,
likethis,^.Thisdoesnotmatter,butitlooksnicerwithoutthelinebetween,sothatthefigureswiUnot
appeartothereaderasiftheywerefractions.Theupperfigure,1,meanscashwasenteredinthefirst
pageoftheLedger,andcapitalM^asenteredinthesecondpageofthesaidLedger ;thecashonthedebit,
andthecapitalonthecreditside.Youshouldknowthattheclosertothedebtoryoucanplacethecreditor,
theniceritwiUlook. Itisjustthesame,however,nomatterwhereitis;butitmaylookbadonaccount
ofthedatewhichattimesmustbeputbetweenentries,anditmakesitdifficultthentofindthedates.
Wecannottellyoueverythingfully,butyouwithyournaturalingenuitymustguideyourself.Therefore
youalwaystrytoputthesaidcreditorimmediately afteritsdebtoronthesamelineoronthelineimme-
diatelyfollowingwithoutenteringanythingelseinbetween,forwheneverthereisadebititemtheremust
existatthesametimeacredititem.Forthisreason,gettheoneasnearaspossibletotheother.
CHAPTER 15.
THEWAYINWHICHTHECASHANDCAPITALENTRIESSHOULDBEPOSTEDIN
THELEDGERINTHEDEBITANDTHECREDIT.THEDATEWHICHATTHETOP
OFTHEPAGEISWRITTENDOWNACCORDINGTOTHEANCIENTUSE.CHANGINGOF
THESAME.HOWTODIVIDETHESPACEONTHEPAGESFORSMALLANDLARGEAC-
COUNTSASTHEBUSINESSREQUIRES.
Afterhavingtoldyouthesethingsforyourinstruction,wewritenowthefirstentryofthecashin
thedebitcolumn,andthenthefirstentryofthecapitalinthecreditcolumn,intheLedger. But,aswe
havesaid,youshallwritedownintheLedgertheyearintheoldwaybyusingthealphabet,
thus:MCCCCLXXXXIII, etc. ItisnotcustomarytoputthedayatthetopintheLedgerasinthe
Journal,becauseoneaccountintheLedgermayhaveseveraldates,andthereforeyoucannotkeepthe
datesinorderbyputtingthematthetop ;butyoushallputthedaysinthebodyoftheentry,asyou
willunderstandhereafter.
Weputthedaytooneside,inthespaceofwhichIhavespoken,justbeforetheentry. Ifanitemre-
ferstoatransactionwhichhappenedinadifferentyearthanthatwrittenatthetopofthepage,which
happenswhenonedoesnotbalanceandtransferhisbooksattheendofeachyear,thenthisyearshall
beputontheside,inthemarginneartheentryoftheitemtowhichitrefers.Thisonlyhappensinthe
Ledger,andcannothappenintheotherbooks.Inmakingthisentryfortheyear,usetheantiquelet-
ters,whichareneater.
*7

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non©ftnoioaqualclxturecauinonfacafoic.boncapiraicofi.
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£quinobifoQiacbcrroppotc(teda.pbaucrbegiaIkfoingiojnalc.CB3fctnpjcItudu
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Oi0irro7c.perlotale. car. .S '^gP
laqualcofipoftadxIbaraiocpcnarai ingiwnalcinoarccommcfopzatcw(Ti.£poiiba
nerperlocaucdaloiraicofivj.
y59 i3^.cccc'.lrrrm
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£cofiancoja.iqftabadafucn'niamctcoircperlacagtonfc»p:aoitra.ialtrcpoicbeq(otto
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/
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fcmedcrimedxiqlDfofiretrouauano.£Sbarimc l?aucdomelgiojnale.ooueg>doncIcua
(lilegnte.£pdeftiaTtib'.tuimargieponcfti.liOoinu'.^liccbitozi.ecrcditoji.liiofouralal
trodxd^iamauano lecam',odqdcrnodoDcranofituati.edipotoarantccarrilipo:raifa
renro?narcoruoingcgno7c.£qftobaIhqptoavnagniaporta7c'. poiladQtitaeft
foddc^oicalqdsmoponedola aruoc6dccefeluogodirraraicofi.£p?i'.femprc fen^apia
rercplicbi.po?raidifop:andpjtnnpioddacarta.c!tnilcrimofcnorifolTcpolio
j^
altra^ti
ta.p'.poclxalenoireinvnamcdemafariaelquademieziafcttara.2.0.jptitcfx)dxcogiio
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rehadeadopcrar.£
p
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doparcalagioznatacoedifop?a.alcap?n^.delacallaccjucdalfooctfoqlficortumaua
lafarlituttajafadaraodlib'.pdxf^>dlllTimcfiadepccrcgradilefaccdcficonucganoma*
ncgiarc.£qllofolfifapii6baucrtatofpclToafarrei^orjoinace7C.o2aal,ppofitorrouaro
UdlococoefcDici.diraicofiindarcaocrerfoHnanfinifJracofifemprcfaapozrcddcbito.
iDioedepiuforte,dicmodareadi-S.noucbx.p caijifdalc.'j>pc^ein?tami7c.pcfanotanto
7C.dequfllitann'fonnobalafllIcgan7C.£ranrifafili7c.£tinnibinicoculcgni7C.£tantt
dtamanticrtiitc.lcqualiinrurto.overoafo;iaperro:tamettoralcreacomunpgio.occo
taiiriduc4and7C.val car.2 S4o.fo.go4>o.
£coddcpenncrai.lapntoingiojnalc.nddaretirandoialineacoinmedcfopraal.nfcap?
tcdi(Il£poiandaraialcaucdal.£porraiqftamedcmaconmacoparoticjxrIcragfongu
diTopraadurteinqueftocapitolocporralainbaucrcfottoqudlap'.cC»'gialibaipoftodcia
calTa.£diraieofi.T3.
atJio dcrto.pcr^oiedcpiuionccommoliaparc7c.car.;
.
5.4o.f'eg0.p0.
£cofipoftafarailaltradctxnarura.algiojnalc ibaucr.coetcmoftraidiTopra al.12°.ca'.
£poTniImargmclinmncnrIccmi.douctalQiiKalquademoponcrtj'comodWcnimo
?noiropra'laltro.coinnie quidenanceaparcdxmetrobabiportalaptitaindaracarti.h£
qlUdeTcaucdal ftapurealogofuoacam.2,|^intantodxllanoncpiena^clxdipoiinnate
48

57. although itdoesnotmatterverymuch.
Thus,youshallputitthisway
:
JESUS MCCCCLXXXXIII.
Cashisdebtor{deedare—shallgive)onNovember 8,"per"capital.OnthisdayIhaveinmoneysof
differentkinds,goldandothercoins;page2: L.X™,S ,6
,P
Hereyoudonotneedtobeverylengthyifyonhavealreadygiventhedescription intheJournal.
Trytobeverybrief.
Atthebeginningofthepagewesaymore,butintheentriesfollowing itisenoughtosay
:onditto,
"per"suchandsuch;page,etc., L
,S
,G
,P
Afteryouhavemadetheentryinthisway,youshallcancelintheJournalasIhaveexplainedtoyou.
Theninthecreditsideyoushallwritedownthisway
:
JESUS MCCCCLXXXXIII.
Capitalofmyself,soandso,iscreditor{deehavere—shallhave)onNovember 8,"per"cash.On
thisdayIhaveincash,ingoldandotherkindsofmoney
;i)afie1
:
ThisentryisalsosufHcient ;expressyourselfbrieflyforthereasonabovesaid.Ifthereareotheritems
tobeenteredinthesameaccount,itwillbeenoughtosay,onditto,"per"suchandsuch,etc.,ashasjust
beensho\^l.Attheendofthistreatise,Iwillgiveyouanexample,andthusyouwillgoonexpressing
yourselfbrieflyespeciallyintliosethingswhichareprivate—thatis,ofwhichyoudonotliavetogivean
accounttoanyone.Butastootherthingsforwhichyouhavetogiveanaccounttootherpeople, itwill
bebetterforyoutobemoreexplicit,althoughforexplanationswealwaysrelyontlieJournal.Thenyou
willcancel,bydrawingaline,thecreditentryintheJournalasIhavesaidaboveinChapter12.Inthe
margin,justoppositetheentry,youshallwritedownthetwonumbersofthepageswherethedebitand
creditentriesare.Thatis,youshouldputthenumberofthedebitpageabove,andthenumberofthe
creditpagebelow,aswehavedoneaboveinthecashentry.Thenyousliallatonceenterinthealphabet
orrepertory(index)thisdebtorandthiscreditor,eachoneunderitsownletterasIhavetoldyoubefore.
Thatis,cashattheletterC,bysayinginthisway:Cash,page1.AndcapitalalsoattheletterC,saj-ing:
Capitalbelongingtome,page2.Andsoon,youshallenter(inthisrepertory) allthecreditorsunder
theirrespectiveletters,sothatyoumayfindthemeasilyintheLedgermentioned.
Takenotice,thatifbyanychanceyoushouldlosethisLedgerthrouglirobbery,orfire,orshipwreck,
etc.,ifyouhaveeitheroftheothertwobooks,thatis,thememorandumbookorJournal,youcan,bymeans
ofthisbookalwaysmakeupanotherLedgerwdththesameentries,daybyday,andenterthemonthesame
pagesonwhichtheywereinthelastbook ;especiallyso,ifyouhavetheJournalinwhich,when.youtrans-
ferredtliedifferententriesintotlieLedger,youwrotedownatthemarginthetwonumbersofthedebit
entrypage,andthecreditentrypage,theoneabovetheother,whichtwonumbersindicatedthepagesof
theledgerwherethetwoentrieshadbeenentered.InthiswayyoucanduplicateyourLedger. Thisis
enoughsaidforthepostingofoneentry.
Forthesecondentries,whichpertainstopreciousstones,youshallenterintheLedgerasfollows
:
FIRST,withoutmytellingittoyouoveragain,youshallwritedownatthetopofthepagethedate,
iftherehasbeennodatewrittenbeforebecauseofanotheraccount,forattimesonthesamepagetwoorthree
accountsaremade.Sometimesyouwon'tgivemuchspacetoonespecialaccountbecauseyouknowtliat
youwillnothavetousethataccountoveragain.Thereforeyouwillgivetothisaccountasmallerspace
thanthespaceyougivetootheraccountswhicliyouhadtousemore,aswehavesaidaboveinChapter13,
whentalkingaboutcashandcapital,towhichwegivethewholepage,aswehavetousetliesetwoac-
countsveryoftenbecauseofthemanytransactions. Thisisdoneinordertolessentransfers.
Nowthen,afteryouhavefoundtheproperplace(intheledger),youshallwritedownontheleft
—
becausethedebtormustalwaysbeattheleft:Preciousstonesofmanykindsdebit{diennodare—shall
give),onNovember 8,percapital,forsomanypieces,etc.,weighingsomuch,somanyarecountedhalasxi,
etc.,andsomanysapphires, etc.,andsomanyrubies,etc.,andsomanyunpolisheddiamonds inbulk(or
dividethedifferentkinds),foravalueofsomanyducats;page2: L40;SO;GO;PO.
YoushallcancelthisitemintheJournalonthedebitsidebydrawingalineasIhavetoldyouin
Chapter12.Andthenyouwillgotocapital,andyoushallenterthisentrywithfewerwords,fortherea-
sonsaboveexpressedinthischapter,writingitdownonthecreditsideunderthefirstentrythatyouhave
alreadymade,andyoushallexpressyourselfthisway
:
Ontheday,orditto,forpreciousstonesofseveralkinds,asitappearsatpage3:L40 ;SO;GO;PO.
AfterwliichyoushalldrawanotherlineonthecreditsideoftheJournal,asIhaveshowninChap-
ter12
;youshallputdowninthemarginthetwonumbersofthepagesoftheLedgerinwhichyouhave
madetheseentries,oneabovetheother,asIhavetoldyou.Weshallsay,forinstance,thatyouhaveen-
teredthedebitentryatpage3
;thecapitalentrywillstillappearatpage2,aslongasthatpageisnot
filled.
49

58. OMinrtonotta.srrartatu^.ri'.St'fcriptoria
joj
awttclativ!apo:Mrai.cdincMottoncrcpomintcckraiflpK:iio.£qfto
p
qfta.e3fuefiltif
liel«abaftatt7C.£poflaclx(arafaloi'troqderno.£afenan111giomalc-ctufubvtolapor-
raialrcgtorio vcroalfabctccocoifop:aiqft"ocap?foocrro.£iocalafuaIra.6.vcro.
5.fo.pfWI5ala.pfcri'raf.cociduicrfipacfiocadc.cbrquiiuincgiamoiroficoftumapone
recl.5-r>oucnoimrofcanaponemoc!gXkbcaccwaaralatuatmJwdido7C.
£6ckZKbxnooitrarcIcj^iircoclcmcrcanriccbeperimcntmooaltroinodo(bonjofert
trouatndquadcrno'inoareeinbaucrc. £ap^ 16".
11£alrrc.4-B"t<^P<^'^"kqactiocltuomobilcaocar^cri.plni.lmi.Icfti ocpiuma
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rionoficauajxlmcniojialcplaragt'ocli3fcgnara.£pofuooirrarcingi07nalc
£<inco?anelgralib?ioarecbaucit.ecipo.nealalfabcto.lafdaroo:niaiTccjrcalruojjcgri
noingcgnowlql molrome'cofido £foIol3.7'.pntaoc^c(;cr inccbiniclxrifroiiiafafare
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clxoimcrcariaalcuo,-^ritrouane.baiiedo fcpjctunatcin.iccgliocbi(02n'.pefi.einiHiree
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ra.foli"pacfi.oclcqlicofc^apienonocpollibflepoiierecrcpli.niac6fadlita.oa^(\i\K>cbi
^copcdiofainetcpofhpo;raioiqluicaltriipjcderearuafulficiccapodxknoivolcniowr
tccrepiooelniodoverfoevia.w'mercareatrani.lccia.bari.£bcrota.noealo?nomi^pcfilo
ro.£mifurelo2o7C.£cofipclamarca.£anclxoelanfatofcanj.froppo fca-bbcgraded
voUunc.cbec6b:euitaifendo concludcre£pqlla.7".re(,cceriiclgio?nale.oirc cofi.V5.
pericnit'criinccbiuiiujotearcfufo.oicollioiraicoeatepare7c.91oittocf>cfintcdecauc
dal.pcbclioiTop?a imecfiatclarail?o?diRcwoirroiuctan'o.c6c oiccinooifopracap".ii°.
inlaptifaTavcle«;oic.pcollitantipefano.7C.£g.S
.tanteq'dofofTcroarcfu(Toimore7C.
qlimererrouobaucreinlema/iiald(piltemetroDicomfico?fovalcreelC.ovcrolaS.7c.
ouc.ranri7c.moranointurfoncttfr>uc.tanri7C.val $ f
ffP
£cofiportacf?lariiinelgio2nale.£tualmcmojiale.oreroinuetario.laoipeiia.e laca.al
modooittofop^al.lI'.cap?7C.£cofiobfuaraiptuttclalt'.7C.&i^^acoefooetroeocqfii
clxaltraclxfgiojnalefimetta.fe'prcalgranItb'.fifannoooppie.cioe 1Woarc.elaltraiba
ucrccoedifopfaoiccinoc;p.i4'*.laqualpoinelquadcnioinoarc.poncndola oirtaralaI
qrti)tnodo.iS'oftop'.fcp?eclmflefimo(cnouifolTeincapooelacarta.feamcttaruiclgtoz
nooifopjapocbecoeofceniooifop:acap.1??£1oinoficoftumapo2rc(op:anelp:in?be
iacartaoclquadcrnop
rifpcttoclxinqllamcdcfimafadaporrcboiiocerepiupritcoiucr
fiocbiroriccrcdito?i.(equalibcdxIenafd>inofottovnnnlerimo.i^f>afirannoinoiucrfime
rtecorni.coeoirco:rcdopnitro poiap:endcre.£q'dobeneanco?ainoitrafaciaodlib:o
grandenovifolTcalrrocbe 1'.folapriraoi'cafTa.o03lrroanco:a cli;o;nopoftooifopjand
qiladcrno.nofiporrcbbefcruarc4}dxinoitcaprita.ocojiraoimcttcrecafioco:(iinoiucrfi
incfi.£oiep
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mcttcreclgio:no.pclxnonbanouedurovcrfonevianemodoclxconucrirafipoflaafet'
tardlo7c.4aqualparn'rai!idarecofipo2raioiccdo7C.
5cnccrimecbini.inmonte.ouerocolli7c.oicnoareaoi.8.nonemb?cpercauedal.pcrcolii
tanri7C.pcfano. «;-tantcTc.qualimitrouobaucreincafa.oucromaga^enalp?efcntequ^l
oeconiunco?rollimo wleredcento7C.ouc.tanti7c.£pertutiimontaouc. g.p.7c.ra(
carti.2. S fg?P
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ro£poiinbaucreafcrtaralainqftomodoalcauedalcommctcmoriflraiponercqudia
XKkvoicfop2aacap". 1s?cofivj-
aoi oerro.pcr(en{c2imedMni inmontcovcrocolli7c.cflr. ;. S
Pg? p.
£cofiportacbeIbaraiocpennaraila partitaodgio2nalcinIxiuercdoeverfomande-
ftra.coeoinan^evedifatto.£ponilinumcriodecartioina«;ealeiinmarginevnofop.'alal'
tro.£ioed.;.oifopjad.:.oifottopclxtubaimeffodocbito2eacarti.vndquadcrno.dcrc
ditoxe9.2.Ciocdcapital.cfubitopoilamcrtiinalfabeto.overoreptorioafafuali^a.fioc
al.3.fcp.5lac6[m.ovcroal.^.plarafooittainlopccdcrcca'.a qllaptitafaodcjoie7c.
belmodoarcncreconroconliofficripublici:cpcrclx:eoclacamcraocU'mp2elnmvcf
ncttadxfcgoucrnaperviaoefcrticri. ^^p?
17°
pm
50

59. Thisexamplewillguideyouinothercasei.
AfteryouhavemadetheentriesintheLedgerandmarkeditintheJournal,youshallputitatoncein
theindexasIhavetoldyouaboveinthischapter—thatis,undertheletterGorZ,accordingastohow
Oioie(stone) ispronounced. InVenicethecustom istopronounce itwithZ;inTuscany,withG.Guide
yourselfaccordingtoyourownunderstanding.
CHAPTER 16.
HOWTHEENTRIESRELATIVETOTHEMERCHANDISEOFWHICHONEISPOS-
SESSEDACCORDINGTOHISINVENTORY,OROTHERWISE,SHOULDBEMADEINTHE
LEDGERBOTHINTHEDEBITANDTHECREDIT.
YouwillbeabletotransfereasilybyyourselffromtheInventorytotheJournalthefouritemsof
yourpersonalgoods—thatis,silver,linen,featherbeds,clothes,etc.,exactlyasyouwritetheminthe
Inventory,asweexplainedinChapter6.ThisInventorywasnotcontainedinthememorandumbook,for
thereasonsthereinexpressed.
AndastohowtomaketheseentriesintheJournalandtheLedger,andastohowtorecordthemin
theIndex,Iwillleavetoyourability,onwhichIcountverymuch.
WeshallproceedtoenterintheJournal,aswellasintheLedger,theseventhitem(oftheInven-
tory),whichpertainstoGinger. Thismustbeasufficientinstructionforyoubywhichtomakeanyother
entryrelativetoyourmerchandise.Youshouldalwayshaveinmindtheirnumber,weights,measurements
andvaluesaccordingtothedifferentwaysinwhicliitiscustomarytomakepurcliasesorsalesamongmer-
chantsintheRialto,orelsewhere. Itisnotpossibletogiveherefullexamplesforalltheseoperations,but
fromthosefewthatwegivehereyouwillbeabletounderstandhowtogoaheadinanyothercase.For
ifwewantedtogiveyouanexampleofallthewaysinwhichmerchantsdobusinessinTraui,Leeee,Bari
andBitouto—
-thatis,togiveyouthenamesoftheirweights,measurements, etc.,andalsototellyouabout
thewaysthattheyusetheminMareaandinourTuscany,thiswouldmakeourtreatiseverylong,which,
onthecontrary,Iintendtomakeshort.
AstothisseventhitemtobeenteredintheJournal,weshallproceedthus :PerGingerinbulkor
package—youshallexpressyourselfasyoulike—//aditto—bywhichcapitalisunderstood,becauseyou
havealreadymentioned itintheentryimmediatelypreceding,whenyouenteredyourseconditemfrom
theinventory,thatis,preciousstones—aswesaidinChapter12—
^Ipossessonthisdaysomanypackages
weighingsomuch,or1possesssomanypounds,ifinbulk,accordingtothecurrentprices,ofavalueby
thehundredorbythepound,ofsomanyducats ;intotalIgivethemthevalueofsomanyducats.
L
,S
,G
,P
AfteryouhaveentereditintheJournalinthisway,youshallcancelitinthememorandumbookor
inventory,aswehavesaidinChapter12,andyoushalldothesamefortheotheritems.Ofthisentry,as
wehavesaid,aswellasofanyentrymadeintheJournal,youshallmaketwodifferententriesinthe
Ledger;thatis,oneiuthedebitandtheotherinthecredit.—SeeChapter14.Inmakingtheentryin
theLedgerinthedebit,youshaUproceedinthisway :Firstyoushallputtheyear,ineasethereis
none,atthetopofthepage,withoutthereputtingdowntheday,for,aswehavesaidinChapter15,itis
notcustomarytoputdownthedayatthebeginningofthepageoftheLedgerbecauseonthatsamepage
severalentriesmaybemadeunderthedebitandcreditwhich,whilebelongingtothesameyear,referto
transactionsmadeindifferentmonthsanddays.EvenifonthatpageoftheLedgertherewasonlyone
cashentryorotherentry,thedayputatthetopofthepagecouldnotbeverywellkeptbecause,under
thesaidentry,itwouldbenecessarytowritedowntransactionswhichhappenedindifferentmonthsand
days.Forthisreasontheancientpeopleneverputthedayatthetopofthepagesinmercantileledgers,
astheysawthattherewasnojustificationforit,etc.
Youshallmakethisentryinthedebit(intheLedger)inthefollowingmanner:Gingerinbulk,orso
manypackages,debit{deedare—shallgive)onNovember8percapital,forsomanypieces,weighingso
manypounds,whichIonthisdayhaveinmystore,orathomeinmyhouse,andwhichaccordingtocurrent
pricesareworthsomanyducatsandintotalsomanyducats,grossi,picioli,etc. ;Page2
:
L
,S
,G
,P
ThenyoushallcancelthisentryonthedebitsideoftheJournal—thatis,attheleft,asIhavetold
youoften,andthenyoushallenteritonthecreditsideunderCapital,asIhaveshownyouinenteringthe
preciousstonesiteminChapter15,thatis
:
OndittoperGingerinbulkorpackages,etc.;Page3: L
,S
,G
,P
Afteryouhaveentereditinthisway,youshallcanceltheentryonthecreditsideoftheJournal
—
thatis,attheright—asIhaveshownyoubefore,andyoushallalsowritedownatthemarginthenumbers
oftherespectivepagesoftheLedgeroneabovetheother—thatis,threeaboveandtwobelow,asyouhave
madethedebitentryatPage3andthecreditentryatPage2,andyoushallthereafterenteritinthe
alphabetorrepertoryunderitsrespective letter,whichmaybeZorG,forthereasonsgiveninthepre-
cedingchapter.
CHAPTER 17.
HOWTOKEEPACCOUNTSWITHPUBLICOFFICES,ANDWHY.THECAMERADE
L'IMPRESTI(MUNICIPALLOANBANK)INVENICE,WHICHISMANAGEDBYSESTIERI
(DISTRICTS).
51

60. Ml
©irtiiKtfonona.rracfattt5.ii*.'©c fcripturie.
I0:idclaltrcnorenedo.altranci:itia.cioc(Wqlla<kpcllami'.dafodrccoi'cccm
decfine-rcdekrqiialia
i
"c
i*.fo2marai!apntaingjbmafccquadcrnop
o:dig
depenando.cfcgnandointurn"lilod>iclxnontcfcordtpcrclxalmcrcantcbU
. fognaaltroccrudlcdxdcbcccaria7C.0iuclladciacameradfp2cfttodal'
tromotec6cinfircnca.cfniotcdeledoteigcnoalilocbioucroaUriofTidic\xUMcrocS
liqualimbaaefkafarc.perolcunacagionefadxfcinpzeconlororababiabuonofcotro.
DCwrccocfjKJUcrcintutti(imodiconqualdxd^iarcccafepofllbileeocmanoelifcriuani
oiqlliluodM'qlticforrobonacudodiaalmododxoelefcnttnreelateretcofro.pcbca5
ftitaliofficiifpclTofcfoalianoniutarcfcriuani.liqliognunoafuafantaliauolcguidarcMi
b2iocloofficio.biafimadofcmpjelifcriuanpaflfati.dxnontcniuanbonordinctc.£feni
'
p2eognunopfuadeclfuoojdinenugliojcoclialtri.imododxalevolteinozodanolepnte.
oerailofTicildxnonfeneti'cn i'xolaltra.fguaid^icotaltaafare.£pofadxtiaacafa.£
colVapoaboreaa.c6qftitali.£ccrramcrefoTfielfanoabonfinenow'mcnomoflraoigno
rflija.£cofitirfaicoto.coligabcllariewiiariocrobbcdxmuedicc6p:i.C3uiemettinele
terre7c.iCoeftcolhimafarc'invinecn'a.dx ftricncp
lipfuoelatcrra^iotologocotooffido
oclamcflcraria.d?ia2.p.c?£(^>iai'.pc?£d?i«.4pc".7c.£l?iamando cllib?o.©el(cnr
faro.dxvifmterponccnotarcaltuolib:o.£anclxlamarc.infuchfa.docdlib?oouetw
innotalimcrcatial Dittoofficioclxcofilodjiamanom venctiapodxciafcunofcnfaroa
xmlibzo.oucroloogoinqualdxlibroaldittoofficioooueIniwaoarcinnotalimacflt<
dxfa.ficotcrricri.cocforefh'cnaltramcteca^anoinpcna.faltramctc faceffaro.£f#nnop:l
Dati.£beneqllacrcdfa.iS.licafti'gaclo:o.efaiuanic5mallipo:tafcrocoeoemoltimeri
cojdo.gianclitpfpaffariecrcpunitiftraniani^tt.£pofantamentefannoiconflituircvno
clqlcafoloqllacura.inrenederetuttilioffidi.doefelilorolib'.fonobn.oii>omaletenutiic.
iConimcfeoebiatenercontoconlooffidoodamclliitariainvcnetwcoeloitiarelefue
partiteinmemojiQle.^omale.cquademo.eancora ocliimpjcth". £ap'. 18.
5dxqfdovoraicotalioffitiitenercciuo.lacameraocimpjcftfti.farai ?xbi'trid
oetuttalafoztcoecaucoaliatantoelc^.Tc.lRoiando lifeftierioouefonpolb.£
fiiiiiTmoitcfcpiua(agioznatanccopjaffed.xmolrifenevendanoptcop
altrt
coefacbircaltoVfa
,J^otobriincbilono(aiidcIuogl>i.7c.£cofinclfcotcreU
ro«)^.fcp:efaralacrcditncia oi'poi.£(cftierpk(tiai7C.£coficolofliriooclamcffaan'd
£1cototirraiIqftomodo.riocqf-dotucompraraialcunamcrcantiapmc«o$fefan'.alora
©etuttofoamotare.arafoncoe.2.ooe.'.ooc.4.7c.pc".faranccrcdito?cdoittooffidooeta
}ndl^ana.£ocbitn'dqtlatalcraercantia.plaqlcagionetupagl:)i7C.£poconuenedxlco
p?ato?cfempreritegaalucditoxnclpagamcto.oecontanri.ortropaltromododxlabi'a
flfatiffercnonfacafo.pd?clottto.officio~nonvolandarccrcandoaltrofcnonlarataclxH
oJpctta.aucngadxlifcnfarircporfinoclmcrcatoinnor3.c6mo.cc5.edx).leftatofmo.per
cbiarcfteeuidcreoecontracricpdofralojo.nafcefleDiffercncaalcunacoeac^de.£1comuii
ipuerbiooici.d?inonfanonfalla.cd?inonfallanonimpara7c.ocleqliofcijolcndofe lept<
d>iarircl3ano regreffoaltjjcrcatonotato.plofcnfaro.al qualefolidecrettpublidlifipfta
fedccoeapublicoinffrumentoocnotaro.^Po lafojmao(qllo.dpiuodevolte.£locgna
offriiooeconroliocmcrcnnri.fo:m3nolelo:o^ridrclxA:iitcn^e7C.C>icoadoncacomp:an'
dolualcunarobba.tuoicfapcqllod.xlai^gaocin.£plamitarericni.alucnditojc.£toe
felarobbapaga.4.pc*.aqlloofdciopOcretopublicoocloominto.£tualuircrieni.2 .pc?
£tantomancoli'conta.£Iwraclfuooouere.£ rupoioclruttorclhobligatealoitrooff?'
rio.£odtuttolaraiafarcredito2ealtuolib?ocontadoc6lui.£qllatolmercantiafarni6M
tridcoeoicemotc.pcbedoitrooffin'ononuolccrcarc.cbivcndc.mad)\cojnp2a.£popot
atalcomp2at02i lieconccffo.oicauaretanrooiqllajnercanria.pq>toapagatolam.fo236
laterra.inI020bolctre.alatauola.oclufdcjopermarcpterradxlauogiionocauareala
5i02n3ta.£poconucgano limercantitcncrebcucontoconlooinooffido.adofcmp:efa'
pinoqptofumnocauare.pdxnonfilaffanocauar-ixrpiudxficomp2ino feoinouonon
pagbinolarn.oeconraniircodcqualicomprec)fequcntcripongocrcplo.ecofi.ocloi'tto
Offido.commc fciMbincaoittareingio2n«le.£ancbcinlib20grande.£oirocofi. i^i
ma.ttimeino2iale.fcn)plk:imcnre.5oji? vcronotinqi\ci\o01poftooiTopraocomp23fooaP
$U3nanioniooamcfina.^uc^jlipaferminicafll n'.tantc.paninMantf.pefand inrutto.tictri.
oepancllc.cani.co2de.e paglic.Stantcperouc.tati.clc".montanoouc.tari7C.abaftoperh
Tuaparteoclain.aragionoetantoperc°.ouc.g.p.tanntcfcnfaro^iuanocgagliardi.vale
ntttioucanLg.p.tantiw-pagammocoptand.
52

61. Ishallnotgiveyouanymorerulesfortheotheritems—thatis,leathergoodsforcoverings,tannedor
raw,etc.,foreachofwhichyoushallmakeentriesintheJournalandLedger,carefullywritingdownevery-
thingandcheeking off,etc.,withoutforgettinganything,becausethemerchantmusthaveamuchbetter
understanding ofthingsthanabutcher.
IfyouhaveaccountswiththeCameradeL'Impresti,orwithotherbanks,asinFlorence,orwiththe
MontedeLaDote,inGenoa,aswellassimilarofficesorbureauxwithwhichyouhavebusiness,seethat
youkeeptheseaccountsveryclearlyandobtaingoodwrittenevidenceastodebitsandcreditsinthehand-
writingoftheclerksinthoseinstitutions. Thisadviceyouwillcarefullyfollow,forreasonstobeex-
plainedinchapterondocumentsandletters.Becauseintheseofficestlieyoftenchangetheirclerks,
andaseachoneofthe.seclerkslikestokeepthebooksinhisownway,heisalwaysblamingtheprevi-
ousclerks,sayingthattheydidnotkeepthebooksingoodorder,andtheyarealwaystryingtomakeyou
believethattheirwayisbetterthanalltheothers,sothatattimestheymixuptheaccountsinthebooks
oftheseofficesinsuchwaythattheydonotcorrespondwithanything.Woetoyouifyouhaveanything
todowiththesepeople. Therefore,beverycarefulwhendealingwiththem,andbeobservantathomeand
keepyourheadinthestore.Maybetheymeanwell,neverthelesstheymayshowignorance. Inthisway
youshallkeepaccountswiththeGabellariandDatiaru(revenueofficers)astothethingsthatyoumight
sellorbuy,thingsthatyougrow,thingsthatyouplant,etc.,asitisthecustominVenicewlierepeopleare
usedtokeepinganaccountthroughtheofficeoftheMessetaria(marketmasterorexchange),someat2%,
someat\%>,someat4%.Youshouldmentiontliebookofthebrokerthroughwhomthetransactionwas
made,andalsomentionthespecialmarkthatthebrokerhasinthisbook—thatis,thebookinwhichhe
makesarecordofthemarkettransactionatsaidofficewhichtheycall"Chiumans" inVenice.Foreach
brokerhasabookinthesaidoffice,oraplaceinsomebookinthesaidoffice,inwhichhehastomakea
recordofallthetransactionswhichhehaswiththecitizensofthetownorwithoutsiders. Ifthebroker
shouldnotdothathewouldbefinedanddismissed.
AndjustlythegloriousrepublicofVenicepunishesthemandtheirclerkswhoshouldmisbehave. I
knowofmanywhointhepastyearshavebeenheavilypunished,andrighttheyareinhavingoneofficer
whoseonlydutyistooverseealltheseofficersandtheirbookswhethertheyarewellkeptornot,etc.
CHAPTER 18.
HOWYOUSHOULDKEEPYOURACCOUNTSWITHTHEOFFICEOFTHEMESSETARIA
INVENICE.HOWTOMAKEENTRIESPERTAININGTHERETOINTHEMEMORANDUM
BOOK,JOURNALANDLEDGER,ANDABOUTLOANS.
Whenyouwanttodobusinesswiththesaidoffices,youshallalwayschargetotheCameradeL'Im-
presti(municipalloanbank)somanypercent,onallyourfundsorcapital,namingthedistrictwhere
oneresides.Likewise,fortheamountofthedailysalesformanyarethesalesmadeforyouorforothers,
asthosepeopleknowwhoarefamiliarwiththeRialto.Becarefultoputdownthenameofthepartythat
buysandhisplaceofbusiness,etc.Whenyouwithdrawsaidfunds,youshallalwayscreditthesaidbank,
daybydayanddistrictbydistrict.
IndoingbusinesswiththeofficeoftheMessetaria(exchange),youshallkeeptheaccountinthisway:
Whenyoubuyanymerchandisethroughbrokers,youshallcreditthesaidofficeoftheMcssctariwiththe
2%or3%or4%ofthewholeamoiuit,andshallchargeittothatspecificmerchandise, foryouarethus
payingforit,etc.Thereforethebuyer,whenhemakeshispaymentstotheseller,shouldalwaysretain
thatpercentage,nomatterwhetherthepaymentsaremadeincashorotherwise,asthesaidofficedoesnot
concernitselfaboutanythingexcepttherate
(%
)towhichitisentitled.Thebrokersmakeareportof
thetransaction,howandwhatforandwithwhommade,inordertohavethingsclearincaseanyques-
tionshouldarise,whichmayhappen.
Acommonproverbsays
:Whodoesnothing,makesnomistakes ;whomakesnomistakeslearnsnoth-
ing,etc.
(
Ifanyquestionshouldariseandthepartieswislitosettleit,theywouldgoandexaminetherecords
ofthetransactionmadebythebroker,towhichrecords,accordingtothepublicdecrees,asfullfaithis
givenastoapublicnotarialdocument,andaccordingtotheserecordsveryoftentheofficeoftheConsuls
ofthemerchantsissuesitsjudgment.
Isay,then,whenyoubuyanything,youmustalwaysknowwhatisduetotheMessetaria,andyou
withholdhalfofthisfromwhatyoupaytotheseller ;thatis,iftheparticularthingthatyoubuyissub-
jecttoa47rpaymenttothatoffice,asperpublicdecreesoftheRepublic,youwithhold2%ofwhatyou
givetotheseller.Yougivehimthatmuchlessinorderthathereceiveswhatisduehim.Youthenwill
becomeadebtorforthewholeamountwhichisduethesaidoffice,andyoushallcreditthesaidofficewith
itinyourLedgerwhenyoukeepanaccountwiththatofficeandchargeittothegoodsthatyouhave
bought,aswehavesaid,becausethatofficedoesnotinterestitselfinthepartywhosellsout,butinthe
partywhobuys.Inaccordancewiththis,thebuyerwillbeallowedtotakeoutoftheofficialwarehouses
merchandise inproportion tothebrokeragepaidandaccordingtotheirbookskeptattheshippingco.un-
ter,whetheritcamebylandorsea.Therefore,themerchantsshouldkeepacarefulaccountwiththesaid
officesothattheyknowhowmuchmerchandisetheycantakeout.Theyarenotallowedtotakeoutmore
thantheyhaveboughtunlesstheyhavepaidtheextrabrokerage.
Ofthesepurchases, Iwillgiveyouhereanexampleandhowthetransactionwiththesaidofficemustberecorded
intheJournalandintheLedger. First,youshallexpressyourselfinthememorandumbookinthefollowingmanner:
I(orwe),onthisdayabovementioned,haveboughtofMr.ZuanAntonio,ofMessina,somanyboxesofPaler-
mosugarandsomanyloavesofthenetweight—thatis,withouttheboxes,wrappers, ropesandstraw—somany
poundsatsomanyducatsperhundred; IdeductforwhatisduetotheMessetariaattherateofsomuchpercent.,
somanyducats,grossi.picioU,etc.ThebrokerwasMr.ZuandeGaiardi; netvalue,somanyducats,grossi.
picioli.paidincash.
53

62. ^ifHmtonona.Zracfatue.ti*.^cfcnpfnris 104
Hamcdrfimamgjomafeoiracori' • acontanti.
•
i^^
cmariocpalcrmo.Bcafbcomatiafcuanocantoniooaiuefina^xrcaUTn'.fantepani
n°Cifiri.pefanoncm.occfllTi-pancUc.co?dc.cpaglic.Sfa"rc.a oucfanriclc?mdtanoouc,
tanriic.abarto.pfafuaparteoclam.arafonoetanriperc".tc.ouc.unri7C.rcdanoncm.
tnict3nri7c.fcnfarf.^anDcgauifdi. %
f'6P
lan*cdffnnainquadernowracofi.
5iicarlTKpalermo.rncoarcaditalc.pcalTaconrariaf^mnoantonioocmcfma.pfrpanni
numcroranripcfanoncrri.S-tantepcrouc rantidccrtto.montanonmnnrutro acarril^
£faraicredirru::laca(l&oiquclranf0 7C.
s
J'5?
£fcmpxfarai(oJTittoociam.mditoKddOoppiocbcfumcneftialiicdifo?e.doepI3
fuacp4aruagtc.7C.£fcpzcfubit©norarolarobbafnjcdiateivnalr'.pnta(ottofaraicrcdi
toxoirtoofficiopert>irto^ucarococI>ar3iDiTorro.£pibitriaoittarobba .t5>crcrcmpionu
napagataacontanri.02p?cndmcrtiapreacotanricparte,atpop'.imenion'alccofioirai.
5contanrictciTipo.aditanri7c.
5oocomp?afoadiomo.Daf^uanoantonio.oamd'ina.aKarioc pjlermopani
n".
tanri.
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5ngio?na(elamedeniaoiracofi.pzimaqueltalocrutfoacdiro:e.£poiocbiio:cocql
laparteoc6.dx(uil?aue.
yfts.t49vao!tanriodt3l mefe7c.
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f'5P
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l&erlioitti:aloflfioooelaifi.pcrlamontarfouraofrto.cioeoeoiictaif7Carafooetang
c*.
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£iuandouolclTcfamepartitanuoua.fl^auolendofcquitarclap?epoflabalbuaoireaoi.
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lamedemainjjaucreoiracofi.
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nin'.tantipefan nettiS;.tanteperduc.tannelc''.montano.ncfn deifi.duc.tanti.dcquali al
pzeientclineocbiodarcontanriduc.tanti7c.delauan(o.mi fatpoperruttoagoHo.priofii
furo.faifarf<,uandcgagliardi.vjl r;.4.
S
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jmp3ttiduc.tanri7c.apegfuofairtodemaninlib:cfo.vj|. k.iV% PgP
lamedana.alam.eandxperlaprecedente fquadernocofi.
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niontaredcductari.atatipc'.fenfarf^uandegaiardimonta. k.ii f f?^
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anc
Ktuoilibn'pJtncipftfi:
*
£ap? 19.
I
£ofiptalc6p?e.qftaribaftaaguidarte.ofiaatutricotanti'oagtecofanri.£
p
fcrpo. coratiedittaolutrimbanco.ocotantiebancoocotari.£robbe.orob
ba.editta.otuttadittarobbe.etpo.orobbacbanco.obaficoctpo.obacocdk
ta.obanco.cotanri.ditta.erobbe.7c.godx ituttiq(limodt.fecoflumac6p:are.
Icqlifupertealfcfodclapcedctemetter9lclmemo:i3le.£dri^aralcigio2nale.cquademo.
?
iiij
54

63. TheMineshouldbeenteredintheJouruftlinthefollowingmanner
:
PerPalermosugar//Acash.CashpaidtoMr.ZuanAntonioofMessinaforsomanyboxesandso
manyloaves,ofthenetweight—thatis,withouttheboxes,wrappers,ropesandstraw—somanypounds
;.
atsomanyducatsperhundred, itamountstosomanyducats ;IdeductwhatisduetotheMessetariaatso
muchpercent.,somanyducats,etc.;netresidue,somanyducats,etc.ThebrokerwasMr.ZuandeGai-
ardi. L ,S ,G
,P
IntheLedgeryoushallmaketheentriesasfollows:
Palermosugardebit{deedareorshallgive)cash.Cashpaidto]\Ir.ZuanAntonioofMessniaforso
manyboxesandsomanyloaves,weighing,net,somanypounds,atsomanyducatsperhundred,which
amountsto—Page1
:
L
,S
,G. P....
.^...
Andyoushallcreditcashwiththesameamount,andshallalwayscredittheMessetariawithtwicethe
amountwhichyouwithholdfromthepricepaidtotlifseller—thatis,forthecommissionduebytheseller
andbyyou.
Immediately after,youshallmakeanotherentrycreditingthesaidofficewiththesaidsugarandcharging
thesaidmerchandise. Thiswilldoforapurchasebycash.Nowweshallconsideronemadepartlyincash
andpartlyontime.
First,inthememorandumbookyoushallsayasfollows :Bycashandontimeonsuchandsuchday,
IhaveboughtonthesaiddateofMr.ZuanAntonioofMessinasomanyloavesofPalermosugar,weighing
netsomanypounds,atsomanyducatsperhundred,makingatotalofsomanyducats. Thisisinpart
payment;fortherestIshallhavetimetopayuntilthewholemonthofAugustnext,etc.Thebroker
wasMr.ZuanGaiardi. ^ Cr
,P
Youmustunderstandthatyoudonotneedtohaveawrittenpapercontainingthetermsofthetrans-
action,forthebrokershallrecordthatinthesaidOffice.Thisrecordisenoughforyou,butasaprecau-
tion,sometimespeoplerequireacontract.
You^villmaketheentryintheJournalasfollows :FirstyoushallcreditMr.So-and-Soforthetotal
amount,andthenchargehimforthemoneythathehasreceived.
JESUS 1493
Onsuchandsuchadayofsuchandsuchmonth,etc.,perPalermosugar//AMr.ZuanAntonio,of
Messina,forsomanyloaves,weighingnetsomanypoundsatsomanyducatsperhundred,makingatotal
ofsomanyducats ;deductingforhisshareofthebrokerageatsomuchpercent.,somanyducats,leaving
anetbalanceofsomanyducats,ofwhichnowIhavetopaysomany,andastotherestIhavetimeuntil
theendofnextAugust.ThebrokerwasMr.ZuandeGaiardi;value L
,S
,G. ..,P
Immediately after,credittheofficeoftheMessetariawiththecommissionduetoit
:Perditto//A
OfficeoftheMessetaria. Fortheamountabovementioned—thatis,somanyducatsattherateofsomuch
percent,formyshareandfortheshareofthedebtor(seller),inallamountingtosomanyducats,grossi,
picioli:value: L
_ ,S
,G
,P
Forthecashpayment,youshallchargehimandcreditcashinthefollowingmanner
:
PerMr.ZuanAntonioofMessina//Acash.Bycashpaidhimforpartpaymentofsaidsugaraccord-
ingtothetermsofthetransaction,somanyducats,asitappearsfromhisreceiptwritteninhisownhand-
writing.Value
:
L
,S
,G
,P
IntheLedgeryousliallwritedownasfollows
:
Palermosugardebit{deedare—shallgive)onsuchandsuchadayofNovember,perZuanAntonioof
Messina,forsomanyloaves,weighingnetsomanypounds,etc.,atsomanyducatsperhundred,makinga
total,netofthebrokerage ;Page4
:
L
,S ,G
,P
Theseitemsshallbeenteredinthecreditcolumnasfollows
:
Mr.ZuanAntonioofMessina,credit(dfehavere—shallhave),perPalermosugarsomanyloaves,weigh-
ingnetsomanypounds,atsomanyducatsperhundred,amounting,netofthebrokerage,somanyducats,
ofwhichImustnowpaysomanyducats,andfortherestIhavetimeuntiltheendofnextAugust.Brok-
er,Mr.ZuandeGaiardi ;Page4
;value
:
L
,S
,G
,P
Forthecashpaymentyoushallputinthedebitcolumn
:
Mr.Zuan,debit{deedare—shallgive),onsuchandsuchaday,etc.,percashtohimpaidforpart
paymentonsugar—Ireceivedfromhimaccordingtoouragreement—somanyducats,asitisshownby
hisownhandwritinginhisbook;page1: L
,S
,G
,P
TheaccountoftheMessetariaintheLedgershallbeasfollows
:
OfficeottheMessetaria,credit{deehavere—shallhave),onsuchandsuchday,perPalermosugar
boughtfromMr.ZuanAntonio,ofMessina,fortheamountofsomanyducats,atsomanyducatsper
hundred. Broker,Mr.ZuandeGaiardi ;Page,etc.
:
L
,S
,G
,P
CHAPTER 19.
HOWWESHOULDMAKETHEENTRIESINOURPRINCIPALBOOKSOFTHEPAYMENTS
THATWEHAVETOMAKEEITHERBYDRAFTORTHROUGHTHEBANK.
Andastothepurchases,thisshouldbesufficienttoguideyou,whetherthepaymentofthepurchase
shouldbemadeallincashorpartincashandpartontime ;orpartincashorpartbybillofexchangeor
draft{ditto)
;orallthroughthebank;orpartincashandpartthroughthebank;orpartthroughthe
bankandpartontime ;orpartthroughthebankandpartbybillofexchange ;orpartthroughthebank,
partincash,partbybillofexchangeandpartbymerchandise, etc.
Forinallthesewaysitiscustomarytomakepurchases,andineachcaseyoushallmakeentries,first
intheDayBook,thenintheJournal,thenintheLedger,takingasaguidetheforegoingexample.
55

64. ©((h'nrtionona.Tracfahie.xI'.Sc (mptiine.
(t>iicciobai'-sJfarpagamctoaptcb5cocdltta.facbp'.cofcgni(aAtta.fpoigrc^fc1iJfr
bancappiuftgurra.vndcancoza qftacautcllafufapmolnebcne.(rdobcn pagaflcroaeon
tflim-dcfarperreftomband^o.£p
copitopagamcto7C.£pagandoloptcbancoptc.rob
baparte
dinacparrccotantiJctuttcqftc
faralowbirojcfqllctalcorc faralemditriei
ocnunaalfucluoro7C.£fcperaltrimoditcaeadelTecoprare.perfimaitegoiicrna.ic
£hauedomfffoclucrfot\eoprare^ranttucrfipjcdcraiclvcdcrctuoadalrri.faecdoM
ceb'to:icerrditnriIcnicrobbc.fEdebitridlacaJTa.fetidacontanricdbitriciledifrcfctcIc
cofcgnainpagflmcto.£crcdiro:e.dbaneo.fetelda.£cofidinirtopoajiiieeocdifop?at
dittorMeop?flre.£(uidcruttoqllorida.iupagamcrofaralocreditOTC^c.eqfto tibadis
q
ftamateriaaniainrtructioe7C. Delepn'tefamofcepticularindmaneggiotraft'cateeoc
fonobaratticopagnictc.eoclefebabbinoafettarcco:diiiarendilib.nmaeatefcbi.ep'.o
libaratttfcplideopoftieeoltpoeoapriercpUoturnimemo:iale.<;o2nale
e
qder".£3.;o.
—
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,^ Ifonofibaratrie(eeopag^.vuggirecomadan.viaggi ifuamano.eonnTHoebatm
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fucdtametcatiiabalion^fl.tccarononna.cocledcWgiiicvare.creggerendittioiI(b:iojdi
natamcte.aeionotcabagliintucfaecde.£p'.moft?aremoeocfcocbiaafettarc i'.baratto.
;$'6nolib3rarrie6munamctcOc.?.fonccccoifop:a inleraaiofooetto. &iftfetio.o*.'£.
y,".
carti.i6i.finin.t67.flpieno(iAycMrtcoiriaitendcrli.bkoadoeaelxinruttiiiierfiebe tc
ueadciffefcriuereilib"dbaratto.fepzcpuramcrc.p\iiilomeino?ialcoebinarrarloadIfam.
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robbciicdcraiuaicrc.aeotawtiptatotiraraifo:alapti'.aebcmoncta fivogliaimcmo:ialc.
cbcnonfacafo.podxpotdqdernier<lareduratuttaai^fojtaalauterico.eioeqpdolamet
taraalgiojnalc.£alqdemograde7c.£qfloftfapdxeauadorufo2ileralutenelcrobbc
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toliquailvolcrmcttereon lialtri.nd^ojnaloiraicofi.e<oc.
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liqiiali
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CcnearindTbc8tante7c.panin°.tanti7c.vaglianod3feuno. S fgp
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•
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#crcaffa:Ulioitti7Lifocrcontanribcbindoitrobaratto.oalotito7c.perpamn°.ran'
t(7c.pefanoj.fanteval. S
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parsrolouoitcncr nelgio:naleoiraicoft'.rioe.
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poiapontoeommooirop:a.£in loquadcrno.poiljarano lojoparnta.oiftinaa7c.£
qucftouogliodxtib^fti.pertuttiliflltribarattidxfopertcfen^apiumiflenda
.lifjpa
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rimo4ioceurcnrimei8fcunolib:o. £ap".21.
56

65. Butwhenyoumakeapaymentpartthroughthebankandpartbybillofexchange,deliverfirstthe
billofexchangeandthensettlethroughthebank,whichissafer.Manyobservethisprecautionongood
grounds,whenevertheyhavetomakepaymentspartincashtosettlethisbalancethroughthebank,etc.
Ifyoumakepaymentspartthroughthebank,partbytradingsomethingorpartbyabillofexchangeand.
partincash,youshallchargethesellerforallthesethingsandyoushallcrediteachofthesaidthings,each
thinginitsownplace.
Nowthatyouknowhowtogoaheadwheneveryoumakepurchases,youwillalsoknowwhatyouhave
todowhenyousell.Inthisease,youshallchargethedifferentbuyersandshallcreditthedifferentgoods
thatyousellandshallchargecashifyougetmoneyforthesame,andyoushallchargebillsofexchange
ifyougetabillofexchangeinpayment,andcreditthelatterwhenthebankpaystheexchange.
Therefore,referringagaintothepurchase,youshallcreditthepurchaserwithallthathegivesyou
inpajTnent,etc.
Thiswillbeenoughforyourinstructiononthissubject.
CHAPTER 20.
ENTRIESFORTHEWELL-KNOWNANDPECULIARMERCANTILECUSTOMSOFTRAD-
INGANDPARTNERSHIP,ETC.HOWTHEYSHOULDBEENTEREDINTHEMERCANTILE
BOOKS.FIRST :SIMPLETRADINGS,THENCOMPLEXTRADINGSANDEXAMPLESOFEN-
TRIESFORTHEMINTHEMEMORANDUMBOOK,JOURNALANDLEDGER.
Nowweshallspeakofhowcertainwell-knownandpeculiarentriesshouldbemadewhichareofthe
highestimportanceincommerce,andwhichusuallyarekeptseparatefromtheotherssothattheycanshow
theirrespectiveprofitsandlosses{proedanno).Theycovertradings,partnerships, suggestedbusiness
trips,tripsonyourownventures,commissionsfromothers,drafts{ditta)orbillsofexchange{bancha
descritta),actualtrades,storeaccounts,etc.Iwilltellyoubrieflyabouttheseaccounts,howyoushould
maketheentriesinyourbookssothatyoudon'tgetmixedupinyouraffairs.
First,weshallshowhowtoenteratrade{barato). Tradesareusuallyofthreekinds,aswesaidin
Section9ofTreatiseIII,Pages161to167,whereitisstatedfullyandyoucanrefertoit.
Isay,therefore,thatnomatterhowyoumakearecordofthetradeinyourbooks,youshallfirstenter
itinthememorandumbook,statingindetailaUaboutit,itstermsandconditionsandwhetheritwasmade
throughabroker.Afteryouhavesodescribed it,youthenattheendshallputamoneyvalueonit;and
youshallputdownsuchpriceinaccordancewiththecurrentvaluewhichthethingsthatyouhavetraded
have ;reckoninginanykindofmoneyinthememorandum book.Afterwards thebookkeeper,whenhe
transferstheentrytotheJournalandLedger,willreducethatmoneytothestandardmoneythatyouhave
adopted.
Thisisdonebecause,withoutenteringthevalueofthethingsthatyouhavetraded,youcouldnot,
fromyourbooksandaccounts,learn,exceptwithgreatdifficulty,whatyourprofitorlossis.Themer-
chandisemustalwaysbereducedtoactualmoneyvalueinordertotakecareofit(inthebooks).
Youmaykeepaseparateaccountofthegoodsreceivedintrade,ifyouwishtodothat,inorderto
knowhowmuchyoumakeoutofthemseparatefromthoseofthesamekindthatyoumightalreadyhave
athome,orseparatefromthosethatyoumightgetafterthat,inordertoknowwhichwasthebesttransac-
tion.Youalsomaykeeponlyoneaccountofallthegoods—forinstance,ifyouhavealreadysomeginger,
andyougetsomemoregingerthroughatrade.InthiscaseyoushallmaketheentriesintheJournalas
follows
:
PerGingerinbulkorinpackages//Asugar,suchandsuchkind,somanypackages,weighingso
manypounds.Receivedfromatradeforsugarinthismanner :Ivaluedthesugar24ducatsperhundred,
ofwhichIshouldreceiveone-thirdincash,andIvaluedthegingeratsomanyducatsperhundred.The
saidsugarisinsomanyloavesweighingsomanypounds,worth20ducatsperhundred,andforthesaid
gingerIreceivedsomanypoundsofsugarandsomanyloaves,andtheirvalueis
:
L
,S
,G
,P
Andifyoudonotknowexactlyhowmanyloavesofsugaryouhavereceivedforthesaidginger,it
doesnotmatter,becauseyoumaycorrectthemistakeinthefollowingentry,whetherthemistakewas
madeplusorminus,orcorrectitthroughthecashentry.Onthecontrary,youknowexactlytheweight
andmoneyvalue,andyoulosenothingineitherbynotknowingthenumberofloaves. Itisnotalways
possibletokeepanaccountofaUsmalldetails.
NowyouvnWdebitcashforwhatevercashyoureceived,andyoushallcreditsugarinthefollowing
manner
:
PerCash//Aditto.InthesaidtradeIreceivedcashfromsoandsoforsomanyloavesofsugar
weighingsomanypounds
;value : L
,S
,G
,P
YoushallrecordintheJournaldirectallthesedifferentitemssoonafterthetradeismade,andshould
takethenameofthemerchandise ifyoudonotwanttokeepaseparateaccount ;butifyouwanttokeep
theminaseparateaccount,youwillwritethiswayintheJournal
:
Pergingerhdlidireceivedbytradefromsoandso,etc.//Asugar,etc.,statingeverythingassho%vn
above.IntheLedgerthentheywillhaveseparateaccounts.
Thiswillbesufficientforyouforallkindsoftrades.
CHAPTER 21.
THEOTHERWELL-KNOWNENTRYCALLEDPARTNERSHIP.HOWITSHOULDBE
WRITTENINEACHBOOKINTHEPROPERMANNER.
57

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belogoenomcritanolafpcfapodxdcmim'mianocuratpro?7C.£aco:aacadedxtua'
dop?araiqllimedcfimibaftagi.fad^ini.barca.c legatoziivnporo
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tacbiamarafpefedcjucrcatialaqlfcp«:flaacefaidarecomotuttelalrre(pcUfanoic^ala
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niijmonopolTanoeflTerecrc/
dimd:c$docofiletrouallTferiaerro:enellib:a£peroimcmonalceldiraicofi.
5nqucrtodibabtanpagatoabaftafibarcarolilig3dort.pcfado:i 7c.cbcarcarocfcarca
roitktalictalicofetc.duc.tanti7C,
1^im
58

67. Theotherwell-knownentryisthebuyingofanythinginpartnership{compraorcompagnie—may
alsomeanjointventurebutnotcorporation) withotherpeople,suchassilks,spices,cotton,dyes,or
moneyexchanges, etc.Theseaccountsmustallbeenteredinallthreebooksseparatelyfromyourown..
Inthefirst,thatis,thememorandum book,afterwritingdownthedateatthetop,youshallstateina
simplewayallthepurchaseswithtermsandconditions,referringtopapersorotherinstrumentsthat
youmighthavemade,statingforhowlongitwasmadeandwhatwereitsobjects,mentioningtheem-
ployesandapprentices thatyoushouldkeep,etc.,andtheshare,andhowmucheachofyouputsin
thebusiness,whetheringoodsorcash,etc.,whoarethedebtorsandwhoarethecreditors.Youshould
creditthepartners(compratori)fortheamountwhicheachofthemcontributes,andyoushalldebitcashwith
thesameifyoukeeptheaccountwithyourown.Butitisbetterforthebusiness ifyoukeepthiscash
accountseparatefromyourprivateonewhenyouaretheoneattheheadofthebusiness,inwhichease
youshouldhaveaseparatesetofbooksinthesameorderandwaywehaveshownpreviously. Thiswill
facilitatethingsforyou.However,youmightkeepalltheseaccountsinyourownpersonalbooksopen-
ingnewaccountswhich,aswehavesaid,arereferredtoaswell-knownaccountsbecausetheyarekeptsep-
aratefromalltheothers,andIwillshowherehowtoentertheminyourDayBookandthenintheJour-
nalandLedger—butifyoukeepseparatebooks,Iwillnotgiveyouanyfurtherinstruction,because
whatIhavesaidsofarwillbesufficientforyou—youshalldoasfollows :Onthisdaywehavemadea
contractwithsoandso,andsoandso,jointly,tobuy(factocompra)wool,etc.,undertermsandcondi-
tions,etc.,asappearsfromsuchandsuchpaperorsuchandsuchinstrument,forsomanyyears,etc.So
andsoputinashisshare,somuchincash ;theotherputsomanybalesofFrenchwool,weighingnetso
manypounds,etc.,estimatedatsomanyducatsper,etc.Thethird,soandso,putinsomanycredits,
namely,oneforsomanyducats,etc.
Then,intheJournal,puttingeverythinginitsownplace,yoiishallimaginethatyouhaveapartner-
ship'scash(cassadecompagnia)andapartnership's capital(cavcdalcdccompngnia)
;sothatineachen-
tryyoumake,youshallalwaysnametheaccountsofthepartnershipsothatyoucandistinguishthemfrom
yourownentries. First,youmakethecashentry,andthenfollowitsystematicallybytheotherentries
:
PerPartnershipcash//Asuchandsuchpartner'saccount—sothatifyouhaveotheraccounts,you
willnotgetconfused—soandsoputinonthisdayashisshareaccordingtoouragreementasappearsfrom
thecontract,etc. ;value
:
L
,S
,G ,P
Thenyoushallmentiontheotherthingsthattheyhavecontributed
:
PerFrenchwool//Apartner'saccount,forsomanybalesweighingintotal,net,somanypounds,as
examinedbyallofus,atsomanyducatsperbushel,accordingtothetermsofthecontractwehavemade,
etc.,worthintotalsomanyducats ;value
:
L
,S
,G
,P
Andsoonfortheotherdifferentitems,andastotheduebillswhichhavebeenputintheCompany,
youshallstatethisway:
PerMr.SoandSo,Partnership'saccount//Asoandso,accordingtoouragreement,whichsoandso
transferred tothePartnershipasagoodduebillofsomanyducats:L
,S ,G
,P
NowthatIhavegivenyouakindofintroduction tothesenewentries,Iwon'tgoanyfurther,asit
wouldbeaverytiresomethingtorepeatallIhavesaid.
AndIwillnotsayanythingastothewayinwhichtomaketheseentriesintheLedger,asIknowitwill
beeasyforyoutoknowwhatshouldbeenteredasdebitandwhatascreditfromtheJournal.Youshall
enterthemaccordinglyasIhavetoldyouatChapter15,andshallcanceltheseentriesintheJournalas
TtoldyouatChapter12,alwayswritinginthemarginjustoppositethemthenumberofthedebitand
creditpagesoftheLedger,andasyouenterthemintheLedgeryoushallalsoenterthemintheindex,as
Ihavetoldyourepeatedlybefore.
CHAPTER 22.
REGARDINGTHEENTRIESOFEVERYKINDOFEXPENSE,ASFORINSTANCEHOUSE-
HOLDEXPENSES,ORDINARYOREXTRAORDINARY,MERCANTILEEXPENSES,WAGESOF
CLERKSANDAPPRENTICES.HOWTHEYSHOULDBEENTEREDINTHEBOOKS.
Besidestheentriessofarmentioned,youshallopentheseaccountsinyourbooks :thatis,mercantile
expenses,ordinaryhouseholdexpenses,extraordinary expenses,andaccountforwhatiscashedin(en-
trata)andwhatispaidout[usciia) ;oneforprofitsandloss(proedanno—favoranddamages)or(avan-
zirdesavanzi—increaseanddeficit),or(utileedaniio—
-profitanddamage)or(gvadagno epcrdita—gain
andloss),whichaccountsareverynecessaryatanytimesothatthemerchantcanalwaysknowwhatis
hiscapitalandattheendwhenhefiguresuptheclosing(soldo),howhisbusinessisgoing.
Iwillshowhereclearlyenoughhowtheseaccountsshouldbekeptinthebooks.Theaccountnamed
"smallbusinessexpenses" iskeptbecausewecannotentereverylittlethingintheaccountofthemer-
chandisethatyousellorbuy.Forinstance, itmayhappenthatafterafewdays,forthesegoodstliatyou
sellorbuy,youwillhavetopaytheporter,theweigher,thepacker,theshipperandthedriver,andoth-
ers,payingtothisoneonepenn}',totheotheronetwopennies,etc. ;ifyouwanttokeepaseparateac-
countforeachofthesedifferenttransactions, itwouldbetoolongandtooexpensive. Astheproverbsays:
DeminimisnoncuratPraetor(OflBcialsdonotbotherwithdetails).Anditmaybethatyouwillhavetoem-
ploythosesamepeople—drivers,porters,shippersandpackers—fordifferentthings,as,forInstance,youmayneed
themforloadingtheseveralmerchandises inaseaport,andyouwillemploythemandwillhavetopaythemforall
theseservicesatonetime,andyoucouldnotchargetheseveralkindsofmerchandisewithitsproportionoftheseex-
penses.Thereforeyouopenthisaccountwhichiscalled"smallbusinessexpenses,"which isalwaysusedinthe
debitasarealltheotherexpenses.Youenterinthisaccountthesalariesofyourstoreemployes,althoughsomekeep
aseparateaccountofthesalariesthattheypaysothattheyknowhowmuchtheypayforsalarieseveryyear,etc.
Thisshouldalsoalwaysappearasadebit. Iftheaccountshouldbeincredit,thiswouldshowthatthereisamistake.
Thereforeyoushallsayasfollowsinthememorandumbook:
Onthisdaywehavepaidtodrivers,shippers,packers,weighers, etc.,wholoadedandunloadedsuchandsuch
goods,BOmanyducats,etc.;
59

68. •^01in(ogiotmkcoufrraoircoU. perfpcfcocmcrcaric:5caflicontari:pcrbardxc
ba(lagico:dceligaron'(3ckfarcorci*mrtoOuc.tari'?c.valS- i'.gtp. Jnloqderno
Wrauofi. ^pcfiDinercariaoicoarcadiraripcaflrarc.valR. S.f.g?p.Ciudlao
kfixfiPIcAfaojdmaricnofipofarren«;a.£ircndanfefpcfioicafa02din3ric:c6mofo2mc
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rioefitmfimafaricvfinotencrconrofcparatoperpotcrpjcftorrouarfuocoiocfanogtita
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ogmuoltadxmvoliconkicotsretupo?2aivcdcrccotnodlatcbutta.obeneomale7C.£
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60

69. thenintheJournalyoushallsayasfollows
:
Persmallbusinessexpenses//Acash.Cashpaidforboats,ropes,etc.,forsuchandsuchgoodsin
total,somanyducats ;value
:
L
,S
,G
,P
IntheLedger,youshaUstateasfollows:
Smallbusinessexpenses{deedare—shallgive)debitpercashonthisday,etc.,value;page,etc.
L
,S
,G
,P
Wecannotdowithouttheaccountofordinaryhouseholdexpenses.Bytheseexpenseswemeanex-
pensesforgrains,wine,wood,oil,salt,meat,shoes,hats,stockings,cloths,tips,expensesfortailors,bar-
bers,bakers,cleaners, etc.,kitchenutensils,vases,glasses,casks,etc.
Manykeepdifferentaccountsforallthesedifferentthings,sothattheycanseeataglancehoweach
accountstands,andyoumaydosoandopenallthesedifferentaccoiuits,andanyaccountsthatyoulike,
butIamtalkingtoyouaboutwhatthemerchantcannotdowithout.Andyoushallkeepthisaccountin
thewayIhavetoldyoutokeepthesmallbusinessexpenseaccount,andmakeeachentrydaybydayas
youhavesuchexpenses,asforgrain,wine,wool,etc.Manyopenspecialaccountsforthesedifferentthings
sothatattheendoftheyearoratanytimetheymayknowhowmuchtheyarepayingout ;butforthe
smallaccounts,asmeat,fish,boatfares,etc.,youshallsetasideinalittlebagoneortwoducatsandmake
smaUpaymentsoutofthisamount. Itwillbeimpossibletokeepanaccountofallthesesmallthings.
IntheJournalyoushallstateso
:
Perhouseholdexpenses//Acash.Cashsetasideinalittlebagforsmallexpenses,somanyducats,
value: L
,S
,G.
,P
Ifyouwish,youcanincludeinthehouseholdexpensestheextraordinary expenses,asthosethatyou
makeforamusementsorthatyouloseinsomegame,orforthingsormoneythatyoumightlose,orthat
mightbestolenorlostinawreckorthrough fire,etc.,forallareclassifiedasextraordinaryexpenses. If
youwanttokeepaseparateaccountforthem,youmaydoso,asmanydo,inordertoknowattheendof
theyearhowmuchyouhaveexpendedforextraordinary expenses,underwhichtitleyoushouldinclude
alsogiftsandpresentsthatyoumightmaketoanyoneforanyreason.Oftheseexpenses,Iwillnotspeak
anylonger,becauseIamsurethatyou,keepinginmindwhatwehavesaidsofar,willknowhowtoman-
ageyourself.Andleavingthissubject,IwilltellyouofthewaytoopenyourstoreaccountsintheLedger
andintheotherbooksasifyouwantedtoconductastoreforyourownaccount. Ishalltellyouthatyou
mustpaygoodattention,foritisaverynicethingforyoutoknow.
CHAPTER 23.
INWHATMANNERTHEACCOUNTSOFASTORESHOULDBEKEPT.WHETHERTHE
STOREISUNDERYOURCAREORUNDERTHECAREOPOTHERPEOPLE.HOWTHEAC-
COUNTSSHOULDBEENTEREDINTHEAUTHENTICBOOKSOFTHEOWNERSEPARATE
FROMTHOSEOFTHESTOREITSELF.
Isaythenthatifj^oushouldhaveastoreoutsideofyourhouse(branclistore)andnotinthesame
buildingwithyourhouse,butwhichyouhavefullyequipped,thenforthesakeoforderyoushouldkeepthe
accountsinthisway :Youshouldchargeitinyourbookswithallthedifferentthingsthatyouputintoit,
daybyday,andshouldcreditallthedifferentmerchandisethatyouputinitalsoeachonebyitself,andyou
mustimaginethatthisstoreisjustlikeapersonwhoshouldbeyourdebtorforalltliethingsthatyou
maygive(dai)itorspendforitforanj^reason.Andsoonthecontraryyoushallcredititwithallthat
youtakeoutofitandreceivefromit(cavierecevi)asifitwereadebtorwliowouldpayyougradually.
Thusatanytimethatyousodesire,youmayseeliowthestoreisrunning—thatis,ataprofitorataloss
—
soyouwillknowwhatyouwillhavetodoandhowyou^\^llhavetomanage it.Therearemanywhoin
theirbookschargeeverythingtothemanagerofthestore. This,however,cannotbedoneproperlywitli-
outtheconsentofthatperson,becauseyoucanneverenterinyourbooksasadebtoranypersonwithout
hisknowing it,norputhimasacreditorundercertainconditionswithouthisconsent. Ifyonshoulddo
thesethings,itwouldnotberightandyourbookswouldbeconsideredwrong.
Astoallthefixtureswhichyoumightputinsaidstorenecessarytotlierunningofitaccording
tothecircumstances—ifyouhadforinstanceadrug-store,youwouldliavetofurnishitwithvases,boiling
pots,copperutensils,withwhichtowork—
youshallchargeyourstorewithallthisfurniture. Soallof
thesethings.youshallcharge,andhewhoisattheheadofthestoreshallmakeaproperinventoryofall
thesethingsinhisownhandwritingorinthehandwritingofsomebody else,athispleasure,sothatevery-
thingshouldbeclear.Andthiswillbesufficientforastorewhosemanagementyoumayhaveturnedover
tosomebodyortosomeofyouremployes.Butifyouwanttorunthestoreyourself,youshalldoasI
willtellyouanditwillbeallright.Letussupposethatyoubuyanddoallofyourbusinessthroughthe
saidstoreanddonothavetotakecareofanyotherbusiness,thenyoushallkeepthebooksasIhavesaid
before,whetheryoubuyorsell.Youshallcreditallthosethatsellgoodstoyouontime,ifyoubuyon
time,orcreditcashifyoiibuyforcash,andchargethestore ;andifyoushouldsellatretail,aswhenthe
saleshouldnotamounttofourorsixducats,andsoon,thenyoushallkeepallthesemonej^sinasmall
drawerorboxfromwhichyoushalltakeitaftereightortendays,andthenyoushallchargethisamount
tocashandshallcreditthestore ;andyoushallmakethisentryasfollows
;
Pervariousmerchandisesold—forwhichyoushallhavekeptanaccount—andsoon. Tshallnottalk
atlengthaboutthisbecause
61

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63

71. IhavegiveuyousuflScientexplanationpreviouslyandyouknowhowtogoaheadbythistime.Forac-
countsarenothingelsethantheexpressioninwritingofthearrangementofhisaffairs,whichthemer-
chantkeepsinhismind,andifhefollowthissystemalwayshewillknowallabouthisbusinessandwill
knowexactlywhetherhisbusinessgoeswellornot.Thereforetheproverb :Ifyouareinbusinessanddo
notknowallaboutit,yourmoneywillgolikeflies—Thatis,youwillloseit.Andaccordingtothecir-
cumstancesyoucanremedywhatistoberemedied;forinstance,ifnecessary,youmightopenotherac-
counts.Andthiswillbesufficientforyou.
CHAPTER 24.
HOWYOUSHOULDKEEPINTHEJOURNALANDLEDGER.THEACCOUNTSWITHTHE
BANK.WHATISUNDERSTOODBYTHEM.BILLSOFEXCHANGE—WHETHERYOUDEAL
WITHABANKORYOURSELFAREABANKER.RECEIPTSFORDRAFTS—WHATISUN-
DERSTOODBYTHEMANDWHYTHEYAREMADEOUTINDUPLICATE.
Inrespecttobanks,whiclij'oucanfindnowadaysinVenice,inBruges,inAntwerp,Barcelona,and
otherplaceswellknowntothecommercialworld,youmustkeepyouraccountswiththemwiththegreat-
estdiligence.
Youcangenerallyestablishconnectionswithabank.Forinstance,youmayleaveyourmoneywith
thebankasaplaceofgreatersafety,oryoumaykeepyourmoneyinthebankasadepositinorderto
maketherefromyourdailypaj-mentstoPeter,JohnandMartin,forabankdraftislikeapublicnotarial
instrument,becausetheyarecontrolledbythestate.
Ifyouputmoneyinthebank,thenyoushallchargethebankortheownerorpartnersofthebankand
shallcreditj'ourcashandmaketheentriesintheJournalasfollows:
ForBankofLipamani//Acash.Cashdepositedwithsoandsobyme,orothers,formyaccount,on
thisdaycountinggoldandothermoney,etc.,inallsomanyducats ;value
:
L
,S
,6
,P
Andyouwillhavethebankergiveyousomekindofawrittenrecordforyoursurety;ifyoumake
otherdepositsyoushalldothesame.Ineaseyoushouldwithdrawmoney,thebankershallhaveyouwrite
areceipt;inthisway,thingswillbekeptalwaysclear.
Itistruethatattimesthiskindofreceiptisnotgiven,because,aswesaid,thebooksofthebankare
alwayspublicandauthentic ;butitisbettertorequirethiswriting,because,asIhavetoldyou,things
can'tbetooclearforthemerchant.
Ifyouwanttokeepthisaccountinthenameoftheownersorpartnersofthebank,youmaydoso,
asitisthesamething,because,ifyouopentheaccountunderthenameofthebank,bythebankyou
meantheownersorthepartners. Ifyoukeepitunderthenameoftheowners,youshallsaythisway:
PerMr.GirolimoLipamani,banker,andassociates—iftherearemany—//Acash—andhereyou
writeasabove.Inyourbooksyoushallalwaysmentionallagreements,terms,conditionsthattheremight
be;alsoinstrumentsofwritingandplaceswhereyoukeepthem,whetherfilebox,pouchortrunk,sothat
youmayeasilyfindthem,asthesepapersshouldbediligentlykeptforaneverlastingmemorialofthetrans-
action{adperpetuammemoriarn)onaccountofdangers.
Asyoumayhaveseveraldifferentbusinessrelationswiththebankersforyourself,orforothers,you
mustkeepvariousaccountswiththemsothatyouwon'tmixonethingwithanother,andavoidconfusion,
andinyourentriesyoushallsay :Onaccountofsuchandsuchthing,oronaccountofsoandso,oron
accountofgoods,oronaccountofcashdepositedinyournameorinthenameofothers,aswehavesaid.
Youwillknowyourselfhowtomaketheseentries.Inthesamewayyouwillproceedincaseothersshould
turnmoneyovertoyouforsomeaccount
;youshallchargethataccountinyourbook—thatis,youshall
chargethebank,statingwhetheritwasinpartpaymentorinfuU,etc.,andyoushallcredittheperson
thatgaveyouthemoney.Thiswillbeallright.
Whenyoushouldwithdrawmoneyfromabankeithertopaysomebodyelseaspartpaymentorpay-
mentinfull,ortomakearemittancetopartiesinothercountries,youshalldointhiscasejusttheoppo-
siteofwhatwejustsaid—thatis,ifyouwithdrawmoneyyoushallchargeyourcashandcreditthebank
orownersofthebankfortheamountwithdrawn ;andifyoushouldgiveanorderonthebankforsome-
bodyelse,youshallchargethispartyandcreditthebankorownersofthebankforthatmuch,statingthe
reasons.YoushallenterthecashiteminyourJournalasfollows
:
Percash//Abank,orMr.GirolimoLipamani,forcashwhichonthisdayoronsuchandsuch
dayIwithdrewformj'need,inallsomanyducats,value : L
,S
,G ,P
AndifyoushouldissueanorderinfavorofMr.Martino,forinstance,youshallsaythus
:
PerMartinoonsuchandsuchaday//Adittofordittoforcash,etc.,forsomanyducats,forwhich
Igaveanorder,inpartpaymentorinfullpayment,orforaloan,etc.,onthisday;value
:
L
,S
,G
,P
EverytimeyoutransfertheseentriesfromtheJournalIntotheLedger,youshallalsorecordthemintheIndex
andcancelthem,asIhaveshownyou,addingmoreorlesswordsaccordingtothefactsinthecase.
Youmustdothesameincaseyouwanttosenddraftselsewhere,astoLondon,Bruges,Rome,Lyons,etc.You
shallmentioninthelettertheterms,conditions, etc.,whetherthesedraftsareatsightoratacertaindateorat
pleasureofthepayor,asitiscustomary,mentioningalsowhetheritisafirst,second,thirddraft,etc.,sothatnomis-
understandingcanoccurbetweenyouandyourcorrespondent,mentioningalsothekindofmoneyinwhichyoudraw
ortransmit,theirvalue,thecommission,thecostsandinterestthatmightfollowaprotest—inaword,everythingmust
bementioned,whyandhow.
Ihavetoldyouhowyouhavetoproceedindealingwithabank. Ifonthecontraryyouarethebankeryouhave
todointheoppositeway{mutatismutandis) ;whenyoupayyouchargethemantowhomyoupayandcreditcash.
Ifoneofyourcreditors,withoutwithdrawingmoney,shouldIssueadrafttosomebodyelse,youehallsayintheJournal
63

72. ©illinctionoiiat^3rtattt0.rf^©e fcripfurid
Uperqurftalctuocrcditojraqueltalcacbiluiliacocwccofiricniaforcomutatfoitedaxno
crcduo:caunalcroeturimanipuredcbitoxcuienimqrtoattocdercpcrfonainc«;?anacc6/
munaionioteftimoniocfactojcdeleparriatwoincbiollrocartafittofatigactempo(ic\x
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64

73. asfollows: Perthatspecialcreditorofyours//Athemantowhomthemoneywasassigned. In
thiswayyoujustmakethetransferfromonecreditortoanotherandyoustillremainasdebtorand
actasago-between,aswitnessoragentofthetwoparties.Forink,paper,rent,troubleandtimeyou
getacommission,which isalwayslawful, .eventhoughthroughadraftthereisnoriskoftravel,or*
theriskwhenmoneyshouldbetransferredtothirdparties, etc.,asinactualexchanges,ofwhichwe
havespokeninitsplace. Ifyouareabanker,wheneveryoucloseanaccountwithyourcreditors
alwaysremembertogetbackallthepapers,documentsorotherwritingsinyourownhandwritingthat
theymighthave.Whenyouissueanysuchpaperalwaysmention itinyourbookssothatwhenthe
timecomesyouwillremembertoaskforthemandtodestroythemsothatnobodyelseshouldappear
withthesepapersandaskmoneyforthesecondtime.Youmustalwaysrequiregoodreceiptsasthose
dowhoareaccustomed tothiskindofbusiness. Forthecustomisthis: Ifyou,forinstance,come
fromGenevatoVenicewithadraftonMessrs.GiovanniFreseobaldi&Co.,ofFlorence,whichdraftmight
beatsightoronacertaindateoratyourpleasure,andtheamountwereforahundredducats,thatis,for
asmanyducatsasj-ouhavepaidtothedrawerofthedraft,thenthesaidMessrs.Giovanni&Co.,whenthey
honorthedraftandgiveyouthecashwillrequireyoutogivetworeceiptswritteninyourownhand-
writing,andifyoushouldnotknowhowtowrite,athirdpartyoranotarypublicwillmakethemout.
HewillnotbesatisfiedwithonebecausehehastosendonetothebankeratGeneva,whowrotehimto
paythehundredducatstoyouforhisaccountjusttoshowthathehonoredhisrequest,andforthis
purposehewillsendtotheotherbankeraletterenclosingyourreceiptwritteninyourhandwrriting.
Theotherreceipthewillkeepforhimselfonfilesothatinbalancingwiththeotherbanker,thebanker
couldnotdenythetransaction,andifyoushouldgotoGenevayoucouldnotcomplainofhimorof
Mr.Giovanniforifyoushouldcomplainhewouldshowyouyourreceiptwrittenbyyourselfandyou
wouldnotplayabeautifulpartinit.Alltheseprecautionsoughttobetakenbynecessityonaccount
ofthebadfaithofthepresenttimes.Outofthesetransactionstwoentriesoughttobemadeinthe
Ledger,oneentryintheaccountwithMr.Giovanni,inwhichyoushallchargethedrawerofthedraft,
{letterdccambio)theotherentryintheaccountofyourcorrespondent atGeneva,creditingMr.Giovanni
withthathundredducatspaidthroughadraft.Thisisthemethodthatthebankersofalltheworldkeepso
thattheirtransactionmayappearclear ;thereforeyouwillhavetotakesometroubleonyourpartand
trytoentereverythinginitsownplacewithgreatcare.
CHAPTER 25.
ANOTHERACCOUNTWHICHISUSUALLYKEPTINTHELEDGER,CALLEDINCOMEAND
EXPENSES,FORWHICHOFTENASEPARATEBOOKISUSED,ANDWHY.
Therearesomewho,intheirbooks,areaccustomed tokeepanaccountcalledIncomeandEx-
penses{Entrata euscita),inwhichtheyenterextraordinary things,oranyotherthingthattheydeem
proper;otherskeepanaccountcalledextraordinary expensesandinittheyrecordgifts,whichthey
receiveorgive.Theykeepitasacreditanddebitaccount,andthenattheendoftheyeartheyascertain
theremainder(resto)whichiseitheraprofitoralossandtransferittocapitalasyouwillunderstandwhen
wetalkaboutthebalance.Butreallytheaccountwehavecalled"'householdexpenses" issufficientfor
allthisunlesssomeoneshouldliketokeepaseparateaccountforhisowncuriosity,butitwouldbeof
nogreatvaluebecausethingsshouldbearrangedasbrieflyaspossible. Inotherplacesitiscustomary
tokeeptheincomeandexpenseaccountinaseparatebookwhichisbalancedwhentheybalancethe
authenticatedbooksandallotheraflfairs.Thiscustomisnottobecriticizedbutitrequiresmorework.
CHAPTER 26.
HOWENTRIESSHOULDBEMADEINMERCANTILEBOOKSRELATIVETOTRIPSWHICH
YOUCONDUCTYOURSELFORYOUENTRUSTTOOTHERPEOPLE,ANDTHETWOLEDGERS
RESULTINGTHEREFROM.
Tripsaremadeusuallyintwoways,eitherpersonallyorthroughsomebodyelse ;thereforetwoare
thewaystokeeptheiraccountsandthebookalwaysoughttobeinduplicatewhetherthetripismade
byyoupersonallyoritisinchargeofsomebodyelse.Oneledgeriskeptathomeandtheotheroneis
takenalongandkeptonthetrip.Ifyouconductthetripyourself,forthesakeoforderandsystem,
youmusttakeanewinventoryalsoasmallLedgerandsmallJournalamongthethingsyoutakewith
youandfollowtheinstructionabovegiven. Ifyousellorbuyorexchange,youmustchargeandcredit
accordingtothefacts,persons,goods,cash,travelingcapital,travelingprofitandloss,etc.Thisisthe
bestway,nomatterwhatotherpeoplemaysay.Youmightkeepanaccountwiththemercantile
housewhichfurnishesyouwiththegoodswhichyoutakeonthetrip.Inthiscaseyoushallcreditthe
saidhouseinyourlittleLedgerandchargethedifferentgoodsonebyone.Inthiswayyouwould
openyourmercantilehouseaccounts,capitalaccount,etc.,asinyourmainbooks,andcomingbacksafe
andsoundyouwouldreturntothemercantilehouseeitherothergoodsinexchangeforthosethatyou
tookormoney,andyouwouldclosetheaccountswiththeenteringinyourbigLedgertherespective
profitorlossitem.Inthiswayyourbusinesswillbeclear. If,however,youentrustthetriptosome
otherparty,thenyoushouldchargethispartywithallthegoodsthatyouentrustwithhim,saying:
Pertripentrustedtosoandso,etc.,andyoushouldkeepanaccountwithhim,asifhewereoneof
yourcustomers,forallgoodsandmoneys,keepingseparateaccounts, etc.,andheonhispartwillset
upalittleLedgerinwhichhemakesyoucreditorforeverything.Whenliecomesbackhewillbalance
withyou ;andifyourtravelingsalesmanwereinfetters(sentenceremainsunfinished intheoriginal)
65

74. ©irtindonoru-Zrartatus. x\*.^c(cnpt\sriQ 207
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66

75. CHAPTER 27.
ANOTHERWELL-KNOWNACCOUNTNAMEDPROFITANDLOSS,ORPROFITANDDEFI-
CIT.HOWITSHOULDBEKEPTINTHELEDGERANDWHYITISNOTKEPTINTHE
JOURNALASTHEOTHERACCOUNTS.
Aftertheotheraccounts,theremustfollowonewhichIsn;unedvariously,accordingtodifferentlocalities,Favor
andDamage(ProaOanno),orProfitandDamage{UtileaDanno) ,orIncreaseandDeficit{Avanzi eDesavanzi).
IntothisotheraccountsintheLedgerhavetheirremainders,aswewillshowwhenwespeaicofthetrialbalance.
YoushouldnotputtheseentriesintheJournal,butonlyintheLedger,astheyoriginatefromoversorshortsinthe
debitsandcredits,andnotfromactualtransactions. Youshallopentheaccountthisway:
ProfitandLossdebit[deedare—shallgive),andProfitandLosscredit(deehavere—shallhave).
Thatis,ifyouhadsustainedalossinaspeciallineofmerchandiseandinthisaccountinyourLedgerwould
showlessinthecreditthanthedebit,thenyouwilladdthedifference(saldo)tothecreditsoastomakeitbalance,
andyoushallenterasfollows:
Credit(deehavere—shallhave),perProfitandLoss,somuch,which Ienterhereinordertobalanceonaccount
ofJosssustained—andsoon,andyouwillmarkthepageoftheProfitandLossaccountwhereyouwritedownthe
entry.ThenyougototheProfitandLossaccountandinthedebitcolumnyoushallenterasfollows:
ProfitandLossdebit(deedare—shallgive),onthisday,tosuchandsuchlosssustained,somuch—whichhas
beenenteredinthecreditofsaidmerchandiseaccountinordertobalance itatpagesoandso. Iftheaccountofthis
specialmerchandisewouldshowaprofitinsteadofloss-—thatis,moreinthecreditthaninthedebit—thenyouwill
proceedintheoppositeway.Thesameyoushalldoonebyoneforallaccountswithmerchandiseordifferentthings,
whethertheyshowgoodorbadresults,sothatyourLedgeralwaysshowstheaccountsinbalance—thatis,asmuch
Inthedebitasinthecredit.ThisistheconditiontheLedgerwillbeinifitiscorrect,asIwillexplaintoyouwhen
Iamtalkingofthebalance. Inthiswayyouwillseeataglancewhetheryouaregainingorlosing,andhowmuch.
Andthisaccountmustthenbetransferredforitsclosing(saldo)intothecapitalaccount,whichisalwaysthelast
inalltheledgersandisconsequentlythereceptacleofallotheraccounts,asyouwillunderstand.
CHAPTER 28.
HOWFULLACCOUNTSINTHELEDGERSHOULDBECARRIEDFORWARDANDTHE
PLACETOWHICHTHEYMUSTBETRANSFERREDSOTHATNOCROOKEDNESSCANBE
PRACTICEDINTHELEDGER.
Youshouldknowthatwhenanaccounthasbeenfilledout,eitherinthedebitorinthecredit,andyoucannot
makeanymoreentriesinthespacereservedforsuchanaccount,youmustatoncecarrythisaccountforwardtoa
pageafterallyourotheraccounts,sothatthereisnospaceleftintheLedgerbetweenthistransferredaccountand
thelastoftheotheraccounts. Otherwise itwouldbeconsideredafraud. Itmustbecarriedforwardinthemanner
whichwehavegivenabovewhenwritingaboutthebalancingofprofitandloss.Inmakingthetransfers,youshould
makeentriesonthedebitandcreditsidesonly,withoutmakinganyentryintheJournal. Transfersarenotmadein
theJournal; still,ifyousodesired,youmightdothatanditwouldbeallright;butitIsnotnecessary,because it
wouldbethatmuchmoretroublewithoutanynecessity. Allthatneedbedoneistoincreasethesmallerquantity
—
thatIs,iftheaccountshowsmoreinthedebitthaninthecredit,yououghttoaddthedifferencetothecredit. Iwill
giveyou,now,anexampleofoneofthesetransfers:
LetussupposethatMartinohashadalongaccountwithyouofseveraltransactions,sothathisaccountshould
betransferredfromledgerpage30.SupposefurtherthatthelastaccountofyourbookIsatpage60,andisatthe
topofsaidpage,sothatonthesamepagethereisspaceenoughtotransfertheMartinoaccount.Supposethatthere
Isondebitside,L80,S15,G15,P24;andthecreditshowsthathehasgivenyou,L72,S9,G3,P17.Deducting
thecreditfromthedebit,thereisaremainder (resta)of:L8,S6,G5,P7.Thisistheamountthatyoushould
bringforwardtothedebitsideofthenewpage,andontheoldpageyoumustaddthesameamountInthecredit
columntomakeitbalance,sayingasfollows:
Onsuchandsuchday,etc.,perhimself, Ibringforward(portaavanti)thisamounttothedebitsideasare-
mainder(resta),andthesameamount Ienterhereperclosing(saldo),thatis:L8,S6,G5,P7.seeatpage60:
L
,S ,G
,P
Andyoushallcanceltheaccountbothonthedebitandcreditsidewithadiagonal line.Afterthat,youwill
gotopage60andshallenterinthedebitcolumnthesaidremainder,alwayswritingdownatthetopofthepagethe
year,ifnonealreadyhasbeenmentioned,ashasbeensaidabove.Youshallenterthereasfollows:
Martinodebitonsuchandsuchdayperhimself,asperremainder (resta)takenfromthepageofhisoldac-
countandthereinenteredperclosing(saldo),seepage30: L8,S6,G5,P7.
Thisisthewayforyoutoproceedwithalloccountsthatyoushouldtransfer: Placethem,asIhavetoldyou,
withoutleavinganyspaceinbetween.Theaccountsshouldbeopenedintheorderinwhichtheyoriginateinsuch
placeandatsuchtime,sothatnobodycanspeakevilofyou.
CHAPTER 29.
HOWTOCHANGETHEYEARINTHELEDGERBETWEENTWOSUCCESSIVEENTRIES
INCASETHEBOOKSARENOTCLOSEDEVERYYEAR.
Itmightbethatyoumustchangetheyearinyourledgeraccountsbeforeyoubalance it.Inthiscase,you
shouldwritetheyearinthemarginbeforethefirstentryofthenewyear,ashasbeenpreviouslysaidatChapter
15;allthefollowingentriesshouldbeunderstoodashavingoccurredduringthatyear.
Butitisalwaysgoodtoclosethebookseachyear,especially ifyouareInpartnershipwithothers.Theproverb
says:Frequentaccountingmakesforlongfriendship. Thusyouwilldoinsimilarcases.
CHAPTER 30.
HOWANABSTRACTORSTATEMENTOFANACCOUNTSHOULDBEMADETOADEBT-
ORWHOMIGHTREQUEST IT,ORFORYOUREMPLOYERINCASEYOUAREMANAGEROR
COMMISSIONEROFTHEADMINISTRATIONOFHISPROPERTY.
Inaddition,youmustknowhowtomakeanabstractorastatementofanaccount ifyourdebtorrequests it.
Thisisafavorthatcannotberefused,especially ifyourdebtorhashadanaccountwithyouforyearsormonths,
etc.Inthiscaseyoushouldgoawaybacktothetimewhenyoubegantohavetransactionswithhim,orbacktothe
timefromwhichhedesirestohavehisstatement,incaseyouhavehadprevioussettlements.Andyoushoulddo
thiswillingly.Youshouldcopyallhisaccountonasheetofpaperlargeenoughtocontain itall. Ifitshouldnot
belargeenough,youwilldrawabalanceattheendofthepageandshallcarrythelatter.Indebitorcredit,forward
totheothersideofthesheet,asItoldyouatChapter28.Andsoon,untiltheendoftheaccount,andattheend
youmustreducethewholeaccounttothenetremainder Inasingleentryindebitorcredit,accordingtothefacts.
Thesestatementsmustbemadeoutverycarefully.
67

76. aiftinctionona.rncfafusjri'. ©efcripturia
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laucrfofaraim(euarioaruoifarton.o
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68

77. Thefollowing isthewayyouhavetoproceedinadjustingyourownbusinesswiththebusinessof
youremployer. Butifyoushouldactforothersasanagentorcommissioner,thenyouwillmakeout
astatementforyouremployerjustasitappearsintheledger,creditingyourselffromtimetotime
withyourcommissionsaccordingtoyouragreements. Thenattheendyoushallchargeyourselfwith
thenetremainder,oryoushallcredityourself ifyouhadtoputinanymoneyofyourown.Your
employerwillthengothroughthisstatcmeut,compareitwithhisownbook,andifhefindsitcorrect,hewill
likeyoubetterandtrustyoumore.Forthisreason,ofalltliethingsthathegaveorsentyou,youshould
withyourownhandwritingkeepanorderlyaccountwhenyoureceivethem.Observethiscarefully.
Ontliecontrary, ifyouaretlieemployer,youmayhaveyourmanagersorcommissionersmakeout
thesestatementsforyou.Butbeforethesestatementsaredeliveredtheyoughttobecomparedcare-
fullywitheachentryintheLedger,JournalandMemorandum Book,orwithanyotherpaperrelative
thereto,sothatnomistakecouldbemadebetweentheparties.
CHAPTER 31.
HOWTOTAKEOUTONEORMOREENTRIESWHICHBYMISTAKEYOUMIGHTHAVE
ENTEREDINADIFFERENTPLACEFROMTHERIGHTONE.WHICHMAYHAPPENTHROUGH
ABSENTMINDEDNESS.
Thegoodbookkeepershouldalsoknowhowtotakeout—orastheycallitinFlorence"stornare"—
anentrywhichbymistakeyoumighthavewrittendowninthewrongplaceas,forinstance,ifyouhad
entereditasadebitinsteadofacreditentry ;orwhenyouhavetoenteritintheaccountofMr.Mar-
tinoandyouputitintheaccountofMr.Giovanni.
P^rattimesyoucannotbesodiligentthatyouareunabletomakemistakes.Theproverbsays
:
Hewhodoesnothing,makesnomistakes :hewhomakesnomistakes,learnsnothing.
Andyoushallcorrectthisentryasfollows: Ifyouhadplacedthisentryinthedebitcolumn
whileyoushouldhaveputitinthecreditcolumn,inordertocorrectthis,youshallmakeanother
entryoppositethisoneinthecreditforthesameamount.Andyoushallsaythus :Onsuchandsuch
dayfortheamountwhichhasbeenenteredoppositehereunderthedebitandshouldhavebeenputin
thecredit,seepage,etc.,andyoushallwritedowninthecolumnoffigures: L SGP
whichyouwrotedownbymistakeintheothercolumn. Infrontofthesetwoentriesyoushallmark
acrossoranyothermarksothatwhenyoumakeoutanabstractorstatementoftheaccountyou
shouldleavetheseentriesout.Afteryouhavemadethiscorrection itisjustasifyouhadwritten
nothinginthedebitcolumn.Youthenmaketheentryinthecreditcolumnasitshouldhavebeen
andeverythingwillbeasitshouldhavebeen.
CHAPTER 32.
HOWTHEBALANCEOFTHELEDGERISMADEANDHOWTHEACCOUNTSOFANOLD
LEDGERARETRANSFERREDTOANEWONE.
AfterallwehavesaidyoumustknownowhowtocarryforwardtheaccountsfromoneLedger
toanotherifyouwanttohaveanewLedgerforthereasonthattheoldoneisallfilleduporbecause
anotheryearbegins,asiscustomaryinthebestknownplaces,especiallyatMilanwherethebigmer-
chantsreneweveryyeartheirLedgers.
Thisoperation,togetherwiththeoperationsofwhichwewillspeak,iscalledthebalancing{bilan-
cio)oftheLedger,andifyouwanttodothiswellyoushalldoitwithgreatdiligenceandorder.That
is,firstyoushallgetahelperasyoucouldhardlydoitalone.YougivehimtheJournalforgreater
precautionandyoushallkeeptheLedger.Thenyoutellhim,beginningwiththefirstentryinthe
Journal,tocallthenumbersofthepagesofyourLedgerwherethatentryhasbeenmade,firstindebit
andthenincredit.Accordingly inturnyoushallobeyhimandshallalwaysfindthepageintheLedger
thathecallsandyoushallaskhimwhatkindofanentryitis,thatis,forwhatandforwhom,andyou
shalllookatthepagestowhichhereferstoseeifyoufindthatitemandthataccount. Iftheamountis
thesame,callitout. Ifyoufindittherethesameasinthejournal,checkit(lanzarala—markitwith
alanceAorV)ordotit(pontarala)
,oranypropermarkovertheliremark,orinsomeotherplace,
sothatyoucanreadilyseeit.Youaskyourhelpertomakeasimilarmarkorcheck—asweareusedto
callitinsomeplaces—intheJournalatthesameentry.Caremustbetakenthatnoentrywillbedotted
(pontata)eitherbyyouwithouthim,orbyhimwithoutyou,asgreatmistakesmightbemadeotherwise,
foroncetheentryisdotteditmeansthatitiscorrect.Thesameisdoneinmakingoutstatementsof
accountsforyourdebtorsbeforeyoudeliverthem.TheyshouldhavebeencomparedwiththeLedger
andJournal,orwithanyotherwritinginwhichtheentriesofthetransactionhavebeenrecorded,as
wehavesaidatChapter30.
AfteryouhaveproceededinthiswaythroughalltheaccountsoftheLedgerandJournalandfoundthatthetwo
bookscorrespondindebitandcredit.Itwillmeanthatalltheaccountsarecorrectandtheentriesenteredcorrectly.
TakecarethatyourhelpershallmarkeachentryintheJournalwithtwodotsorlittlelances;Intheledgeryou
markdownonlyoneforeachentrybecauseyouknowthatforeachentryintheJournaltherearetwomadeinthe
Ledger,therefore,thetwodotsorlances.
Inmakingthisbalance itisgoodifyoumarkintheJournaltwodotsorlancesunderthelire,oneunderthe
other.ThiswillmeanthattheentryiscorrectindebitandcreditintheLedger.Someusethesemarksinthe
Journal: Theyputamarkbeforetheperforthedebitandafterthelireforthecredit.Anywaybothcustomsare
good,however,onesinglemarkintheJournalmightbeenough,thatis,onlythedebitmark,becauseyoucanthen
markyourselfthecreditsideonthepageoftheLedgerwherethatentryisasthispageismentionedinthedebiten-
tryinyourledger. Itwillthennotbenecessaryforyourhelpertocalltoyouthiscreditpage.Sothatbycompar-
ingonlythedebitsidewithhimyoucouldyourselfcheckthecreditside.Butitwouldbemoreconvenientforyou
Ifyouproceedwithyourhelperinthemannerabovesaid.
AfteryouhavefinishedcheckingofftheJournal, ifyoufindintheLedgersomeaccountorentrywhichhas
notbeencheckedoffindebitorcredit,thiswouldindicatethattherehasbeensomemistakeintheLedger,thatis,
thatthatentryissuperfluouswhetherinthedebitorcredit,andyoushallcorrectthiserror
69

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70

79. bymakinganentryforthesameamountintheoppositeside—thatis,ifthesuperfluousentrywasinthe
debit,youmakeanentryonthecreditside,orviceversa.Andhowyoushouldproceedtocorrecttheerror
Ihavetoldyouintheprecedingchapter.Thesamewouldbedoneincaseyourhelperfindssomeentry
^
whichyourledgerdidnotshowwhetherinthedebitorcreditcolumn,whichalsowouldindicateanerror
intheledgerandshouldbecorrectedinadifferentway.Thatis,youshouldmakethatentryoropen
thataccountinthedebitorcredit,mentioningthedifferentdates,astheentrywouldbemadelaterthan
itshouldhavebeen.Agoodbookkeepershouldalwaysmentionwhysuchdifferences arise,sothatthe
booksareabovesuspicion ;thusthenotarypublicinhisinstrumentsneednotmentionwhathasbeenadded
oromitted.Thusthegoodbookkeepermustactsothatthemercantilereputationbekeptup.
Butifthesaidentryshouldhavebeenenteredononlyoneside,debitorcredit,thenitwouldbesuffi-
cientforyoutoputitwhereitismissing,mentioninghowithappenedthroughmistake,etc.Soyouwill
goonthroughallyouraccountsand,iftheyagree,youknowthatyourLedgerisrightandwellkept.
YoumustknowthattheremaybefoundintheLedgersomeentrieswhicharenotintheJournaland
cannotbefoundintheJournal. Thesearethedifferencebetweenthedebitandcreditplacedthereto
close{persaldi)thedifferentaccountswhentheyarecarriedforward,aswehavesaidinChapter28.Of
thesebalancesorremainders,youwillfindtheircorrelativeentriesintheLedger,whetherindebitorcredit,
onthepageindicatedintheseaccounts.Whenyoufindeachcorrelativeentryinitsproperplace,you
mayconcludethatyourLedgerisinproperorder.
WhatwehavesaidsofaraboutcomparingtheLedgerwiththeJournal,shouldbeobservedalsoin
comparingthememorandumbookorscrapbookwiththeJournal,daybyday,ifyouusethememorandum
book,inthemannerIspokeaboutatthebeginningofthistreatise. Ifyouhaveotherbooks,youshould
dothesame.ThelastbooktobecomparedshouldbetheLedger,thenexttothelasttheJournal.
CHAPTER 33.
HOWTHETRANSACTIONSWHICHMIGHTOCCURWHILEYOUBALANCEYOURBOOKS
SHOULDBERECORDED.ANDHOWINTHEOLDBOOKSNOENTRYSHOULDBEMADEOR
CHANGEDDURINGTHATTIME,ANDREASONSWHY.
Aiteryouhaveregularlydoneandobservedallthesethings,seethatnonewentryismadeinany
bookwhichcomesbeforetheLedger—thatis,inthememorandumbookandJournal—becausetheequal-
izingorclosing(elsalrlo)ofallthebooksshouldbeunderstoodtotakeplaceonthesameday.Butif,while
youarebalancingyoubooks,sometransactionsshouldoccur,youshallentertheminthenewbookstowhich
youintendtocarryforwardtheoldones—thatis,inthememorandumbookorJournal,butnotintheLed-
ger,untilyouhavecarriedforwardallthedifferentaccountsoftheoldLedger. Ifyouhavenotyetanew
setofbooks,thenyouwillrecordthesetransactionsandtheirrespectiveexplanationsonaseparatesheetof
paperuntilthebooksareready.Whenthenewbooksareready,youentertheminthesebookswhichshall
bearnewmarks—thatis,iftheoldonesthatyouarebalancingnowweremarkedwithacross,thenyou
shouldmarkthesenewoneswiththecapitalletterA.
CHAPTER 34.
HOWALLTHEACCOUNTSOFTHEOLDLEDGERSHOULDBECLOSEDANDWHY.
ABOUTTHEGRANDTOTALSOFTHEDEBITSANDCREDITS,WHICHISTHEPREPARA-
TIONOFTHETRIALBALANCE.
AfteryouhavedonethisearefuUy,youshallcloseyourLedgeraccountsinthisway:Youshould
commence firstwithcashaccount,thenthedifferentdebtors,thenthemerchandise,andthenyourcustom-
ers.TransfertheremaindersinLedgerA,thatis,inthenewLedger.Youshouldnot,asIhavesaid
above,transfertheremaindersinthenewJournal.
Youshalladdallthedifferententriesindebitandincredit,alwaysaddingtothesmallersidethe
difference,asIhavetoldyouabovewhenexplainingthecarryingforwardoftlieremainder. Thesetwo
accountsarepracticallythesamething ;theonlydifference isthatinthefirstcasetheremainderwascar-
riedforwardtoanotherpageofthesameLedger,whileinthisinstance itiscarriedforwardfromone
Ledgertoanother.WhileinthefirstinstanceyouwouldmarkdownthenewpageofthesameLedger,in
thiscaseyoumarkdownthepageofthenewLedger;makingthetransferfromoneledgertoanother,
anyaccountshouldappearonlyonceineachledger.Thisisapeculiarityofthelastentryoftheaccounts
oftheLedgers.
Inmakingthetransfer,youshouldproceedasfollows :LetussupposethattheaccountofMr.Mar-
tinohasadebitremainder(rcxto)inyour"Cross"Ledgeratpage60of L12,S.15,G10.P.26,
andyouwanttotransferittoLedgerAatpage8indebit;inthe"Cross"Ledgerj-ouhavetoaddto
thecreditcolumnandyoushallputthefollowingattheendofalltheotherentries:Onsuchandsuch
day—
puttingdownalwaysthesamedayinwhichyoudothebalancing [lilancio)—perhimselfasposted
toLedgerAtothedebit,perremainder (resto),wliichamount Iaddhereinordertoclose(saldo)—
value
;seepage8
:
L12,S15,G10,P26.
Andthenyoushallcanceltheaccoimtinthedebitandcreditdiagonally,asIhavetoldyouintalk-
ingaboutthebringingforwardoftheaccounts.Thenputdownthetotalofalltheentries,intliedebit
aswellasinthecredit,sothattheeyecanseeataglancethatitisalleven.Youshallalsowrite
downatthenewpageinLedgerA,inthedebitcolumn,asfollows: Firstj'ouputdownatthetopof
thepagetheyear,andyouputthedayinfrontoftheplacewhereyoumaketheentryforthereason
mentionedinChapter15,thenyousay,Mr.Martinosoandso,debit(decdure—shallgive)onsuchand
suchday
71

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cifaldaraianco:a.£po2taralacoclaltrenclqdcrno.H.inrcftocfiiinafoiapttoip
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gliotuttodoareoelqu3dcrno.crod.£ponloamanrinillr3.£fnnimaraimttofuof?aucre
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mcfummaruauancjflclaln*aoenotarcbbeerrondmoquaderno.clqual poiconoiligctii
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bdmoooc02dincafaptcncrtefcripturemenutecocfoiiofcnttioemanoIcttcrefami'
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£quitadmodoeo;dineocfapertcncrlefcripmreecbiaresce.mcnHtccomme
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teref9miltan.qua(icofcfonnofranicrcanrioegradi^ualliina.emoUaimpo:
72

81. perhimselfasperremaiuder {i-esto)carriedfrom"Cross"Ledger,whichhasbeeuaddedinthecreditcol-
umninordertoclose{saldo),seepage60,value: L12,S15,Q10,P26.
Thusyouwillproceedwithalltheaccountsofthi;GrossLedgerwhichjouwanttotransfertoLedger
A:cashaccount,capitalaccount,merchandise, pei-soualproperty, realproperty,debtors,creditors,
publicofficers,brokers,publicweighmen, etc.,withwhomwehavesometimesverylongaccounts.Butas*
tothoseaccountswhichyoushouldnotcaretotransfertoLedgerA,as,forinstance,yourownpersonal
accountsofwhichyouarenotobligedtogiveanaccounttoanother,as,forinstance,smallmercantileex-
penses,householdexpenses,incomeandexpensesandallextraordinaryexpenses—rentals,pescioni,feudior
livelli,etc.AUtheseaccountsshouldbeclosed{saldore)intheCrossLedgerintothefavoranddamageac-
count,orincreaseanddeficit,orprofitanddamageaccount,asitissometimescalled.Youshallenterthem
-inthedebitcolumn,asitisrarethattheseexpenseaccountsshouldshowanythinginthecreditside.As
Ioftenhavetoldyou,addthedifferencetothecolumn,eitherdebitorcredit,whichshowsasmallertotal,
saying:Perprofitandlossinthisaccount,seepage,etc.Bydoingso,youshallhaveclosed(saldore) all
thesedifferentaccountsintheprofitandlossaccountthroughwhichthen,byaddingallthedebitandall
thecreditentries,youwillbeabletoknowwhatisyourgainorloss,forwiththisbalanceallentriesare
equalized ;thethingsthathadtobedeductedwerededucted,andthethingsthathadtobeaddedwere
addedproportionately intheirrespectiveplaces. Ifthisaccountshowsmoreinthedebitthaninthecredit,
thatmeansthatyouhavelostthatmuchinyourbusinesssinceyoubegan. Ifthecreditismorethanthe
debit,thatmeansthatinthesameperiodoftimeyouhavegained.
Afteryouknowbytheclosing{saldorai)ofthisaccountwhatyourprofitorlossis,thenyoushallclose
thisaccountintothecapitalaccountinwhich,atthebegimiingofyourmanagementofyourbusiness,you
enteredtheinventoryofallyourworldlygoods.Youshallclosetheaccountinthisway: Ifthelosses
areinexcess—fromwhichstateofaffairsmayGodkeepeveryonewhoreallylivesasagoodChristian
—
thenyouhavetoaddtothecreditintheusualmanner,saying :Onsuchandsuchday,Percapitalon
accountoflossesinthisaccount,seepagesoandso,vahie,etc.Thenyoushallcanceltheaccountwitha
diagonallineindebitandcredit,andputinthetotalamountofallthedebitentries,aswellasofthecredit
entries,whichshouldbeequal.Andtheninthecapitalaccoiuit,youshallwriteinthedebitcolumn:
Capitaldebit{deedare—shallgive)onsuchandsuchday,perprofitandlossaccountonaccountoflosses
asmarkeddowninthecreditcolumnofsaidaccountinordertoclose{persaldo),value,etc.:
L
,S
,6
,P
Ifinsteadthereshouldbeaprofit,whichwillhappenwhentheprofitandlossaccountwouldshow-
moreinthecreditthaninthedebit,thenyoushouldaddthedifferencetothedebitsidetomaketheequali-
zation,referringtothecapitalaccountandrespectivepage.Youshouldcreditthesameamounttothecapi-
talaccount,makingtheentryonthecreditsidewherealltheothergoodsofyourshavebeenentered,per-
sonalorreal.Therefore,fromthecapitalaccount,whichalwaysmustbethelastaccountintheentire
Ledger,youmayalwayslearnwhatyourfortune is,byaddingtogetheraUthedebitsandallthecredits,
whichyouhavetransferredinLedgerA.
ThenthiscapitalaccountshouldbeclosedandcarriedforwardwiththeotheraccountstoLedger
A,eitherintotalorentrybyentry.Youcandoeitherway,butitiscustomarytotransferonlythetotal
amount,sothattheentirevalueofyourinventory{inventario) isshownataglance.Don'tforgettonum-
berthepages,afterwhichyouwillenteraUthedifferentaccountsinthealphabetofLedgerA,eachat
itsownplace,asIhavesaidatChapter5,sothatyoumayfindveryeasilytheaccountyouwant.In
thiswaytheentirefirstLedger,andwithittheJournalandmemorandumbook,areclosedandclosedup.
Inorderthatitmaybeclearerthatthebookswerecorrectbeforethesaidclosing,youshallsum-
marizeonasheetofpaperallthedebittotalsthatappearintheCrossLedgerandplacethemattheleft,
thenyoushallwritedownallthecredittotalsattheright.OfaUthesedebittotalsyoumakeonesum
totalwhichiscalledgrandtotal{summasunimarum)
,andlikewiseyoushallmakeasumtotalofaUthe
credittotals,whichisalsocalledgrandtotal{summasummarum) .Thefirstisthegrandtotalofthedebits,
andthesecondisthegrandtotalofthecredits.Now,ifthesetwograndtotalsareequal—thatis,ifone
isjustasmuchastheother—thatis,ifthoseofthedebitandthoseofthecreditarealike—thenyoushall
concludethatyourLedgerwasverywellkeptandclosed,forthereasonthatIgaveyouinChapter14.
Butifoneofthegrandtotalsisbiggerthantheother,thatwouldindicateamistakeinyourLedger,
whichmistakeyouwillhavetolookfordiligentlywiththeindiLstryandtheintelligenceGodgaveyouand
withthehelpofwhatyouhavelearned. Thispartofthework,aswesaidatthebeginning, ishighlyneces-
sarytothegoodmerchant,for,ifyouarenotagoodbookkeeper inyourbusiness,youwillgoongrop-
inglikeablindmanandmaymeetgreatlosses.
Therefore,takegoodcareandmakealleffortstobeagoodbookkeeper,suchasIhaveshownyoufully
inthissublimeworkhowtobecomeone. Ihavegivenyoualltherulesandindicatedtheplaceswhere
everythingcanbefound,inthetableofcontentswhichIhaveplacedatthebeginningofthiswork.
Ofallthethingsthusfartreated,asIpromisedyouinChapter12,Iwillnowgiveyouasummary
ofthemostessentialthingsforyourownrecollection,whichnodoubtwillbeveryusefultoyou.
AndremembertoprayGodformesothattoHispraiseandgloryImayalwaysgoondoinggood.
CHAPTER 35.
HOWANDINWHATORDERPAPERSSHOULDBEKEPT.SUCHASMANUSCRIPTS,
FAMILYLETTERS,POLICIES,PROCESSES,JUDGMENTSANDOTHERINSTRUMENTSOF
WRITINGANDTHERECORDBOOKOFIMPORTANTLETTERS.
Herefollowthemannerandrulesforkeepingdocumentsandmanuscripts,suchaspapersrelativeto
paymentsmade,receiptsfordrafts,orgift.sofmerchandise,confidentialletters,whichthingsareverj'im-
portantformerchants
73

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74

83. and,iftheyarelost,maycausegreatdanger.
First,weshalltalkofconfidential letterswhichyoumaywritetoorreceivefromyourcustomers.
Youshouldalwayskeeptheseinalittledeskuntiltheendofthemonth.Attheendofthemonthtie.
themtogetherinabunchandputthemawayandwriteontheoutsideofeachthedateofreceiptandthe
dateofreply,anddothismonthbymonth,then,attheendoftheyear,ofallthesepapersmakeonebig
bundleandwriteonittheyear,andputitaway.Anytimeyouneedaletter,gotothesebundles.
Keepinyourdeskpouchesinwhichtoplacethelettersthatyourfriendsmaygiveyoutobesent
awaywithyourownletters. Ifthelettershouldbe.senttoRome,putitintheRomepouch,andifto
Florence,putitintheFlorencepouch,etc.Andthenwhenyousendyourmessenger,puttheseletters
withyoursandsendthemtoyourcorrespondent inthatparticulartown.Tobeofservice isalwaysa
goodthing,anditiscustomaryalsotogiveagratuityforthatgoodservice.
Youshouldhaveseverallittlecompartments, orlittlebags,asmanyasthereareplacesorcitiesin
whichyoudobusiness,as,forinstance,Rome,Florence,Naples,Milan,Genoa,Lyon,London,^Bruges,and
oneachlittlebagyoushallwriteitspropername—thatis,youwillwriteonone"Rome,"onanother
"Florence," etc.,andinthesebagsyoushallputthelettersthatsomebodymightsendyoutobeforwarded
tothoseplaces.
"Whenyouhaveansweredaletterandsenttheansweraway,youshallmentionontheoutsideofthe
saidlettertheanswer,bywhomyousentitandtheday,justasyoudidwhenyoureceivedtheletter.
Astotheday,youshallneverforgettomarkitinanyofyourtransactions, whetliersmallorlarge,
andespeciallyinwritinglettersinwhichthesethingsmustbementioned,namely
:theyear,theday,the
place,andyourname. Itiscustomarytoputthenameattheendoftherightsideinacorner.Itiscus-
tomaryamongmerchantstowritetheyearandthedayandtheplaceatthetopatthebeginningofthe
letter.Butfirst,likeagoodChristian,youshallalwaysremembertowritedownthegloriousnameofour
Savior—tliatis,thenameofJesus,orinitsplacethesignoftheHolyCross,inwhosenameourtrans-
actionsmustalwaysbemade,andyoushalldoasfollows: Cross1494.Onthis17thdayofAprilin
Venice.
Andthengoonwithwhatyouwanttosay—thatis,"Myverydear,"etc.Butthestudentsand
otherpeople,likethemonksorpriests,etc.,whoarenotinbusiness,areusedtowritingthedayandyear
attheendafterwritingtheletter.Themerchantsareaccustomed toputatthetopaswehavesaid. If
youshoulddootherwiseandnotwritetheday,therewillbeconfusionandyouwillbemadefunofbe-
causewesaytheletterwhichdoesnotbearthedaywaswrittenduringthenight,andtheletterwhich
doesnotbeartheplacewesaythatitwaswrittenintheotherworld,notinthisone
;andbesidesthefun
madeofyou,therewouldbevexations,whichisworse,asIhavesaid.
Afteryouhavesentyouransweraway,youputyourletterinitsproperplace
;andwhatwehave
saidofoneletterwillapplytoalltheotherletters. Itmustbeobservedthatwhenthelettersyousend
awayareofimportance,youshouldfirstmakearecordoftheminabookwhichiskeptforthisspecial
purpose. Inthisbookthelettershouldbecopied,wordforword,ifitisofgreatimportance—as,forin-
stance,thelettersofexchange,orlettersofgoodssent,etc.,otherwiseonlyarecordofthesubstantialpart
shouldbemadesimilarlyaswedointhememorandumbook,saying:Onthisday,etc.,wehavewritten
tosoandso,etc.,andwesendhimthefollowingthings,etc.,asperhisletterofsuchandsuchdatehe
requestedorgavecommission for,etc.,whichletterwehaveplacedinsuchandsuchpouch.
Afteryouhavesealedtheletterontheoutsideandaddressed it,itisthecustomofmanytomarkon
theoutsideyourspecialmark,sothattheymayknowthatitiscorrespondence ofamerchant,because
greatattention isgiventomerchants,fortheyaretheones,aswesaidatthebeginningofthistreatise,
whosupportourrepublics.
Forthispurpose,theMostReverendCardinalsdolikewise,bywritingtheirnameontheoutsideof
theircorrespondence sothatnobodycouldclaimasanexcusethathedidnotknowfromwhomitwas.The
correspondence oftheHolyFatherremainsopensothatitscontentsmaybeknown,likebulls,privileges,
etc.,althoughforthingswhicharemorepersonalorconfidentialthesealrepresentingtheFisherman{Pes-
catore—St.Peter)isusedtosealthem.
Alltheseletters,tlien,monthbymonth,yearbyyear,youshallputtogetherinabundleandyouwill
keeptheminanorderlywayinachest,wardrobeorcupboard.Asyoureceivethemduringtheday,put
themasideinthesameorder,sothatifnecessaryyoumightfindthemmoreeasily;andIwon'ttalkany
longeraboutthis,asIknowthatyouhaveunderstood it.
Youshallkeepinamoresecretplace,asprivateboxesandchests,allmanuscripts ofyourdebtors
whohavenotpaidyou,asIsaidinChapter17.Likewisekeepthereceiptsinasafeplaceforanyemerg-
ency.Butwhenyoushouldpayothers,havetheotherpartywritethereceiptinareceiptbook,asItold
youatthebeginning,sothatareceiptcannotbeeasilylostorgoastray.
Youshalldothesameastoimportantwriting, as,forinstance,memorandaofthebrokers,orofmer-
chants,orofweighmen,orrelativetogoodsplacedinortakenoutofthecustomhouse,eitherlandorsea
customhouses,andjudgmentsordecreesoftheconsulsorofotherpublicofficials,orallkindsofnotarial
instrumentswrittenonparchmentswhichoughttobekeptinaplaceapart.Thesameshouldbesaidof
thecopiesofinstrumentsandpapersofattorneysorcounselorsatlawrelativetolawsuits.
Itisalsowisetohaveaseparatebookformemoranda,whichwecallmemorandabook,inwhichdayby
dayyoushallkeeparecordofthethingsthatyoumightbeafraidofforgettingand,ifyouforgetthem,
mayprovetobedangeroustoyou.Everyday,thelastthingintheevening,justbeforegoingtobed,you
shallglanceovertliisbooktoseewhethereverythingwhichshouldhavebeendonehasbeendone,etc.,
andyoushallcancelwithyourpenthethingsthathavebeendon(>,andinthisbookyoushallmakearec-
ordofthethingsthatyouhavelenttoyourneighbororfriendforoneortwodays,as,forinstance,store
vases,caldrons,oranyotherthing.
76

84. ©iftiiictiononi.Xrjcfatiisri'^c fcriptmie
UmHidocuniJticondiaimvnljflimifopiadarirepo:rai7^.piucmacoqotviandocfimfnu
cndofluoabicrpiatepertuoingcgnoparcra.pcroeftnoncpolTibflcapicnodctuttoa
pontoperpontoimcrcatudarenojtnj.cnoririapocftcomealtrcuoltckditrorolpiuport
afarc i
°
mercatiteclxundotto?cdcIcggi.5dco^c.Cokcbfiiio^afonodate.rebiilap:ed8
raifoncertoiruttetiiefaccdebritereggiarai.medilte eltuopcrcgriiiouigcgno7L
giuintiari'oocrcgolc£modifopnilrcnercvnolib?o01inercanri. £ap". \6.
gTumlic:cduo2iftocboiiomctrcreallib:ooalaluanianoocftra.£lidebfto?iwlacui
manofttiiTlra.Xuttclepritcd^efemettenoallib?Ixinoaecrcooppie:cioefetufaivnoere
dito:calUfare 1°.t)cbifo:e.£iafcuapnracofiiDarecociixret>bbccotcnercife.',.cofe00c
flgi'oMiooclpagameto.lafomaoelpagamero.fhcagioeoelpaganiero. luln'mo
nomcoclagritaoelocbitoocbbceercilpfiooellapriraoelcrediro.5»qMo«tiedefimo
fi'djnoclxcfcrirtalaptiraocloebi'ro.iqllomcdeumogiojnooebbcccrcqllaoelcrediro.
t,obrtanciooellib?unrcde 1?fogliopiegatoplologofiilqleoalanianooeflraficopiao
litrediton"oellib'.coalafiniftralioebito:i.£vcdcfefelainmaoeloareeqptoqllaoelauc
re.£allo?aillib'.rtabene.£lbilaudooellib2oocbbeecrepari.abcdxtantoocbbeect-
lalumaiionoicooecxdito:i.neoebtto:Lfl^aoicolafiiniaoelcreditocptolafiiniaoeloe
bi'to.£noecndofariaerrojcncllib2o.£1contooicaflTaconiiiened?efcp:efiaoebirrice.
ovcrametepari.£fealtn'metefuffi:fariaerro2cnellibjo.^onfiocbbecnonfipuofare
r'.ocbitojcallibrofcncalice^aeuoluraoiqllotaled?3aec'reocbitojeefepurefifscclTeq
1-
fafcritturaferiafalfaiRefimilmctenonfipuopo;reneppatineconditionia.1?creditofe
<alicccaerolontaoelcredito:e.£ fepurefifacelTeqllafcn'ttura fariafalfa.£H!b°.coiiuie
ned?efiaturtotrattofuojta1^medefimamoeta.(L]f>aoctropoibilnoiarcqllocf3acadef
feouc.oS'0ii02m.ofcudi00:0.0qllocl?efufTiCbanelrrarrcfuoriconuicnecbcfiatut
toa
I^medefimamonctacocp:iripj9ftiillib'.coficoiuiicncfeguire. la^titaoelocbtto.
ooelcreditoclxftfaicontooecalXifipuoabjeuiarcchivnolc.ciocfen^aoirelacagioncfo
lamcteoireoatalcoitalc.oatikoitale.^lxlacagioncfiuiencaoicbiararncllaj?iitaop
pofiia.feaucdoafarei°.c6tonuouofiocbbefcnuerei'cananouafencjto:narcadictroan
concHaorietrovitrouafTifpaciooametTcrla./5onfioicfcriucreidrietro.Of^afcpzeaue
dpero:dinecoevannoligioznioekpocbcmainonrito?nanoindneto£fepurefifaccfle
fariaoarcputareqllolib:ofalfo.Sc1*.partitafolTcalibjomclTapererrorecbcnondo
uefTiecrccoeaduicncalevdfcperifmemojagine erulai)olelTiifto2nare faraicofifcngna
qllatalcpartitainmargineounacrodoouna.fe.£dipoifcriui f*.gtiraalincontro.cicea
[0oppofiipoiqllanclmcdefimoconto.ciocTelaparntaerratafulTccrcdirricc.poinamo oi
^Jo^166.£m(afaraioebitricc.£dirai.edcdare.8:fo.f 1o6t.fonnoperlapartitadi'
ptrofcgnataaodcbcfiftomaperdxeraerrataenonbauciiaaecre.£qftapartitafegna
la.crodcocclaltracdfatta.jQuandolofpadodunocotofufTepieno.inmodoeftnou<
potcflcmetterepiugtite.£tuvolclTirirareqllocontomnani;i.:facofiguardaqlloefteflre
ftodeldittoconto.docfclircHaIwuere adare£>?aponiamocbcqllocontoreftil?auere
S28P4di.bicocl?ctudcbbifarc
1
".verfofolettooalaparteoppofitafen^ametteregioz'
1104diraicofii.£dcdare.S28F4 2.perrcftooi"qllocontopoliobauereinqlloacar.ed
fatto.£lodcttoverfofidcbefcgnareinmargi'ncdauanticofi^nociR
*.cbeU^nifknrcllo
docdxldcttouerfononnedcbif:icean'corcbefiadalabandadeldebito?e.LlRauiencacP
feretrafpojtatoqllocreditoperlaviadeldcbito.©2aticouieneuolgerecartaeandareti'
toauanncbetmoui
1^c3rtanuoua.£duifarcaedif02c rtdcttoconfo.£nominarloefa"
rcEtiranuouafc^ mcttfruiilgi*02no.£dirai cofitaleditalcbtalidebere.si8i'4.62.f5
noperrellodunofuocontoIcuatoinqlloaca.£qJlaparritaddebbifcgnazeinmarginc
cofi.doe
"8^°.
cbcfignificarcllo£efatra.£codcommeiotomoflroquandoilcontorcUa
abauerccofiancorabaiafarequandoreflafliadarccioequdlocai melTodalabandadd
creditometterdateb^ndadeldcbito.
nandodlib"fufletuttopicnouecbioetuudcITiridulloa1?alt"li".nuouo
facofip
.ticouicncvcdcrccbcfeiltuolib",vccbioefcgnatoifulacoucrtaponi
amo^cafo.B
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lacouerta.3&.pdxlilib'.oemercanriranop02diclunoooppolalt'.fofelie
Cdo.abe7c.£lapoilcuareilbilandooellib?ved^ioclxfiagiulloepencocc^bbadTcrc
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ftsnoifjUbil5do.£faretistiliocbit02iccredtf02iciafcijoapfe^lafciaadafc?tito(jpatid
76

85. Theserules,andtheotherveryusefulrulesofwhichIhavespokenbefore,youshallfollowand,ac-
cordingtothelocalitiesandtimes,youshallbemoreorlessparticular,addingoromittingasitseemsbest
toyou,becauseitisimpossibletogiverulesforeverylittlethinginthemercantilebusiness,aswehave
alreadysaid.Theproverbsaysthatweneedmorebridgestomakeamerchantthanadoctoroflawscan
make.
IfyouunderstandwellallthethingsthatIhavespokenofsofar,Iamsureyouwithyourintelli-
gencewillcarryonyourbusinesswell.
CHAPTER 36.
SUMMARYOFTHERULESANDWAYSFORKEEPINGALEDGER.
AllthecreditorsmustappearintheLedgerattherighthandside,andallthedebtorsattheleft.
Allentriesmadeintheledgerhavetobedoubleentries—thatis,ifyoumakeonecreditor,youmust
makesomeonedebtor.
Eachdebit(shallgive
—
deedare)andcredit(shallhave
—
deehavere)entrymustcontainthreethings,
namely: theday,theamountandthereasonfortheentry.
Thelastnameintheentryofthedebit(intheLedger)mustbethefirstnameintheentryofthe
credit.Onthesamedaythatyoumakethedebitentry,youshouldmakethecreditentry.
Byatrialbalance(bilancio)oftheLedgerwemeanasheetofpaperfoldedlengthwiseinthemiddle,
onwhichwewritedownallthecreditorsoftheLedgerattherightsideandthedebtorsattheleftside.
Weseewhetherthetotalofthedebitsisequaltothatofthecredits,andifso,theLedgerisinorder.
ThetrialbalanceoftheLedgershouldbeequal—thatis,thetotalofthecredits—Idonotsaycreditors
—shouldbeequaltothetotalofthedebits—Idonotsaydebtors. Iftheywerenotequaltherewouldbea
mistakeintheLedger.
Thecashaccountshouldalwaysbeadebtororequal. Ifitweredifferent,therewouldbeamistake
intheledger.
Youmustnotandcannotmakeanyonedebtorinyourbookwithoutpermissionorconsentoftheper-
sonthathastoappearasdebtor ;ifyoushould,thataccountwouldbeconsideredfalse.Likewiseyoucan-
notaddtermsorconditions toacreditwithoutpermissionandconsentofthecreditor. Ifyoushould,
thatstatementwouldbeuntrue.
ThevaluesintheLedgermustbereckonedinonekindofmoney. Intheexplanationoftheentries,
youmaynameallsortsofmoney,eitherducats,orlire,orFlorence,orgoldscudi,oranything
else ;butinwritingtheamountinthecolumn,youshouldalwaysusethesamekindofmoneythrough-
out—thatis,themoneythatyoureckonbyatthebeginningshouldbethesameallthroughtheLedger.
Thedebitorcreditentriesofthecashaccountmaybeshortened,ifyoudesire,bynotgivingtherea-
sonfortheentry
;youmaysimplysayfromsoandso,forsoandso,becausethereasonfortheentryis
statedintheoppositeentry.
Ifanewaccountshouldbeopened,youmustuseanewpageandmustnotgobackeveniftherewas
roomenoughtoplacethenewaccount.Youshouldnotwritebackward,butalwaysforward—thatis,go
forwardasthedaysgo,whichnevercomeback.Ifyoudoother\ase, thebookwouldbeuntrue.
IfyoushouldmakeanentryintheLedgerbymistakewhichshouldnothavebeenmade,asithappens
attimesthroughabsentmindedness, andifyouwantedtocorrect it,youshalldoasfollows:Markwith
acrossorwithan"H"thatspecialentry,andthenmakeanentryontheoppositesideunderthesame
account.Thatis,iftheerroneousentrywasonthecreditside—say,forinstance,forL50,S10,D6
—
youmakeanentryinthedebitside,saying:Debit(deedare)L50,S10,D6,fortheoppositeentry
crossmarkedwhichisherebycorrected,because itwasputinthroughamistakeandshouldnothave
beenmade.Thenmarkwithacrossthisnewentry.Thisisall.
Whenthespacesgiventoanyparticularaccountareallfilledsothatnomoreentriescanbemade
andyouwanttocarryforwardthataccount,dointhisway :Figureouttheremainderofthesaidac-
count—thatis,whether itisdebitorcreditremainder.Nowletussaythatthereisacreditremainder
ofL20,S4,D2.Youshouldwriteontheoppositeside,withoutmentioninganydate,asfollows :Debit
L28,S4,D2,perremainder(perresto)ofthisaccountcarriedforwardinthecreditatpagesoandso.
Anditisdone.Thesaidentryistobemarkedinthemarginso,namely:Ro,whichmeans"resto"(re-
mainder),butthisdoesnotmeanthatitisatruedebitentryalthoughitisonthedebitside.Itisrather
thecreditwhichistransferredthroughthedebitside.Nowyoumustturnthepagesandkeeponturn-
ingthemuntilyoufindanewpagewhereyoushallcreditthataccountbynamingtheaccountandmak-
inganewentrywithoutputtingdownanyday.Andyoushallsayinthefollowingmanner :Soandso
iscredit(dechavere)L28,S4,D2,perremainder(perresto)ofaccounttransferredfrompagesoandso,
andyoushouldmarkthisentryinthemarginbyRo,whichmeans"resto"remainder,andthatisdone.
Inthesameway,asIhaveshownyou,youshallproceediftheaccounthasadebitremainder—thatis,
whatyouenteronthecreditsideyoushouldtransfertothedebitside.
Whentheledgerisallfilledup,orold,andyouwanttotransferitintoanewone,youproceedinthe
followingmanner
:Firstyoumustseewhetheryouroldbookbearsamarkonitscover—forinstance,an
A.InthiscaseyoumustmarkthenewLedgerinwhichyouwanttotransfertheoldonebyB.because
thebooksofthemerchantsgobyorder,oneaftertheother,accordingtothelettersofthealphabet.Then
3'ouhavetotakethetrialbalanceoftheoldbookandseethatitisequal.Fromthetrialbalancesheet
youmustcopyinthenewLedgerallthecreditorsanddebtorsallinorderjustastheyappearinthetrial
balancesheet,butmakeaseparateaccountforeachamount
;
77

86. q-toniarbim!xrcatrauaglurccofeco.£ iciaTaragticaotloctwoicl?ai'apircj>ritireds
adarcallib",ucd^iofcanaro.z3.vicarxilultfia|H>rjodcrcdiioxbaiawrcgtaiuirciti
al?3iicrcallib'rccbioTcc^natD.B.aijr.i£col",trtducroa(hbjunuouo./Sjagcaucdlgv'
illib:oucd.MOncouicncadafcuocotoacccfoif^v^cntr!o<dtobtlanciofop:awio,ciccfV
vnocorooclIibroucc!.mofaracrcdiro:ccl.xIcuolraiglobilanaofaralooeUtorccoirai
j.}
ranrircilal>aucrcaqllocoropof^pocbbi l.-»aiu:ic.Ulib",uouofcgnato.36.a.car.^;colibl
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uerc£tul?aiafarecrcdiro;epoftoocbbioarc7cfatto
.
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tuc.ppricdxfubaucfllguadagrsaicod?(ifulVuK)llarclalfatc
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cot3nti.£ranrcqrccofcdiefonotaritcj?nrcfareallib°xfareeiafaiiuocbirriceeone^ta
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necredtroxremcdcmoalluofop2aoertoe6ro.£oipcttareoebirojclapoiVeilioera|>rcc
liiinariacoccvinoefaneeredtcoxremedenioalruo(opjaektroeoio.ecoiiiellcregoieto
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talcmercannaoqlloralecofaecrcditorcl3ca(ra.£lerupicciTi.iolacopraiad.coraticoet
oitro.ODavnobancoglipafiopme.ovcramcrevnoinioainicoglipjgo^mc.lRifpodoti
dxaognimodobaiafareDtbworeqllaralenjcrcanriacoeoifopra,0oitro.(QE>3ooue10ri
riffifaraicrcdiroj lacaflarubatafarecredirorqlbaneo.oqlloruomeoc5j?regliapijb^ri.
£6predxrufacefTidimereisnrie.odidxtolafifiaarcrinincdalcunorpodcbifarede
•
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na£creditorccoluidacuirulaicogata
^
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ateviodiD.corari£loreftofrafciinefi.pxiunfuturi:£doppoqf^ofareunalrra^xita.cioe
dcbuorecoluidacmrulaicoparadiqilaq''.dio.coranridxmoraqllarer^apantdxfudi
p.irrodicoraini£credirorelacaiTaqllol»aiubodxg;lh>agalTegte. 'iTurreUucdirccl^
tufacclTidimcrcanrie dalrrecofel?3iafareruuocoineJiloprafaiuorbaiamerrerejgloop
pofirocioedxdoucdifopraridifiidxfcprefacelTidcbirorelamercanru:£) uellercdiitlMi
afarefeprecredirorelamercanria£dcbisorecadafecueduraa6.c6ranriodebitoreqlbati
COd.xtelibaiicne^inelTi£;cevcdutaarcrnnncbaiafaredcbirorecoluiacuiruIbaiueda
tap
qllorainineefcfufleueduraajsrcD.eJ?rerpol.^aiatarecoeoifop:atimolb-aindleco
p:eqllcouepnrc. J©eruvedcirrM/iamercaciaabararrooiaamo.'^obovcdurclibb;£mit
UwlanaDingbiirerraabararrooipaJoc nocalibreouniilia 01pcucrcoomandoconiinc
faacoitarcqllafairruraallib;fa.cofilihtnaqllodxvaleilpipearuabifaerioeaD.coti'
ti.O?poniamodxruloIti'miouc.oodiciilccroadoq?IcDuinilialibbxvaglionoouc.240
coran.epofaraicrrdrrore(alana6ouc
.240.^q-rolaivendura£qliomodoobf«afep7Ci
Icpnrcriirreolibararnorqlifcncl>auroS-ouamiliaoipeuercftmiaro.z^o.vucis'odova
topeiicreocbbirare
i
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qlcbcwoamuoIjaiafarewbuoxlamicoad?iruglilwiplbrieaedirozecjiTa.^(fU
hceueiTtDcotannfnpliian«;aoaqldxamicobaiafareocbiroxcaflaecrediroxlamico,
$><tul.^auelVipfoorto.ootfci.orcnoiic'.^afficurarenaucgaleealtracofaoebbifa/
Itcrcdircxficurra01nauili)ccbianredxccoccqrdoeooueeqptopccto.£dcbitoK(oto
01caffa. (QDcrcaniudxnfuftinonundarcifealtricocomiftioneoiucderle barartaric
Olcqufllirubaucffil;3ucr larua.puifiof.iMcodxtuoebbtfareoebiroxalUt»o
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lopo?to.o
^
gabclla .pnolo j?merrereimagayno£crc'
dirojccoro01aUa. Zuttelefpcfc01mercantic01^.cotanricbetufarai.op
nolo.ogga
bdlc.orerturcorcnferieopo^rarure facredirorelacaffa./eocbi'rozcquella talcmercantta
perlaqlcrugUbaiifpc*
78

87. andleavetoeachaccountallthespacethatyouthiukyoumayneed.Andineachdebitaccountyoushall
say :Persomuchasperdebitremainder{rcstaadare)intheoldbookmarkedA,atpagesoandso.And
ineachcreditaccountyoushallsay:Persomuchaspercreditremainder{rcstaahavcre)intheoldbook
markedA,atpagesoandso.InthiswayyoutransfertheoldLedgerintothenewone.Now,inorderto
canceltheoldbook,youmustcanceleachaccountbymakingitbalance,ofwhichwehavespoken—thatis,
ifanaccoiuitoftheoldLedgershowsacreditremainderasthetrialbalancewouldshowyou,youshall
debitthisaccountforthesameamount,saying,somuchremainsinthecreditofthisaccount,carriedfor-
wardinthecreditinthenewLedgermarkedB,atpagesoandso.Inthiswayyoushallhaveclosedthe
oldLedgeraudopenedthenewonefor,asIhaveshownyouhowtodoforacreditor,thesameyoushall
doforadebtor,withthisdifference,thatwhileyoudebitanaccount,whichmaysliowacreditremain-
der,youshallcredittheaccountwhichmayshowadebitremainder. Thisisall.
THINGSWHICHSHOULDBEENTEREDINTHEBOOKSOFTHEMERCHANTS.
OfaUthecashthatyoumighthave,ifitisyourown—thatis,thatyoumighthaveearnedatdiffer-
enttimesinthepast,orwhichmighthavebeenbequeathedtoyoubyyourdeadrelativesorgivenyou
asagiftfromsomePrince,youshallmakeyourselfcreditor{crcditoi'c tcmcdcsima),audmakecashdeb-
itor.Astoalljewelryorgoodswhichmightbeyourown—thatis,thatyoumayhavegotthroughbusi-
nessorthatmighthavebeenleftyouthroughawillorgiventoyouasapresent,youmustvaluethemin
cashaudmakeasmanyaccountsastherearethingsaudmakeeachdebitorbysaying :Forsomany,etc.,
ofwhichIfindmyselfpossessedonthisday,somanydenari,postedcreditentryatsuchandsuchpage
;
andthenyoumakecreditoryouraccount{tuoconto),thatisyourself{mcdesimo) ,withtheamountofeach
oftheseentries.Butremembertheseentriesshouldnotbeforlessthantenducatseach,assmallthingsof
littlevaluearenotenteredintheLedger.
Ofalltherealpropertythatyoumightown,asliouses,lands,stores,youmakethecashdebitorand
estimatetheirvalueatyourdiscretionincash,andyoumakecreditoryourselforyourpersonalaccount
{tuosopradetteconto).Thenyoumakedebitoranaccountofthatspecialpropertybygivingthevalue,
asIhavesaidabove,andmakeyourselfcreditorbecause,asIhavetoldyou,allenti-iesmusthavethree
things :Thedate,thevalueincash,andthereason.
Ifyoushouldbuymerchandiseoranythingelseforcash,youshouldmakeadebtorofthatspecial
merchandiseorthiiigaudlikecreditorcash,andifyoushouldsay,Iboughtthatmerchandise forcash,
butabankwillfurnishthecash,orafriendofminewilldoso,Iwillansweryouthatanyway,youmust
makeadebitorofthatspecialmerchandise ;butwhereItoldyoutocreditcash,youshould,instead,credit
thatspecialbank,orthatspecialfriendwhofurnishedthemoney.
Ifyoushouldbuymerchandiseoranythingelse,partlyforcashandpartlyontime,youshallmake
thatspecialmerchandise debitor,andmakeacreditorofthepartyfromwhomyouboughtitontimeand
undertheconditionsthatyoumighthaveagreedupon ;as,forinstance,one-thirdincashandtherestin
sixmonths.Afterthisyouwillhavetomakeanotherentry—thatis,makeadebitorofthepartyfrom
whomyouboughtitfortheamountofthecashthatyouhavegivenhimforthatone-third,audmakecred-
itorcashorthebankwhichmighthavepaidthatmuchforyou.
Ifyoushouldsellanymerchandiseoranything else,youshouldproceedasabovewiththeexception
thatyoushouldproceedintheoppositeway—thatis,whereItoldyouthatwhenyouboughtyoushould
makethemerelumdisedebitor,whenyousellyouwillhavetomakeyourmerchandiseacreditorandcharge
thecashaccountifitissoldforcash,orchargethebankthatmighthavepromisedthepayment.Andif
youmakeasaleontime,youwillhavetochargethepartytowhomyousolditontime,andifyoumake
thesalepartlyforcashandpartlyontime,youshallproceedasIhaveshownyouinexplainingaboutthe
buying.
Ifyoushouldgivemerchandiseinexchange,forinstance,letussayIhavesold1,000poundsofEng-
lishwoolinexchangeforpepper—thatis,for2,000poundsofpepper—Iask,howshallwemakethisentry
intheLedger?YoushaUdoasfollows :Estimatewhatthevalueofthepepperis,atyourdiscretion,in
cash.Nowletussaythatyouestimated12ducatsperhundred;the2,000poundswouldbeworth210
ducats. Therefore,youshallmakethewoolacreditorwith240ducats,forwhichamountyouhavesold
it.Thisisthemannerthatyoushouldfollowinallthetradeentries. Ifyouhavereceived2,000pounds
ofpeppervaluedat240ducats,youshallmakethepepperadebitorandsay :Saidpepperdebtoronthis
day,seepage,etc.,etc.
Ifyoushouldloancashtosomeofyourfriends,youshallchargethefriendtowhomyouhavegiven
itandcreditcash.Ifyoushouldborrowcashfromsomefriend,youwillhavetodebitcashandcredit
yourfriend.
Ifyouhavereceived8or10or20ducatsinordertoinsureashiporagalley,oranythingelse,you
shouldcredittheaccount"shipinsurance,"andexplainallaboutit—how,whenandwhere,andhowmuch
percent. ;andshallchargethecashaccount.
Ifanybodyshouldsendyouanygoodswithinstructions tosellthemorexchangethemoncommis-
sion,IsaythatyouhavetochargeintheLedgerthatspecialmerchandisebelongingtosoandsowiththe
freight,orduty,orforstorage,andcreditthecashaccount.Youshallcreditthecashforallcashthat
youhavetopayonaccountofgoods :forinstance,cashpaidfortransportationorduty,orbrokerage, etc.,
andchargetheaccountofthatspeciaVgoodsforthatwhichyouhavepaidinmoney.
79

88. ©iftincHotiona.Xrartatoe.xi'-BErcripturia
£3(1cfjfmdcmcttcrcalcrcfOzdanccmlmcram.
1UttcIctnaflmncoicafaooibortcc^acbenititruouuODavoglwnoeltcreper
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febt
ro(inanc.£coriOTrc5narciiimargincqu<li€cbefulTiiio
pcrdutreovcndutco
.
ooiiarc gu3ft<:.^f^anonfiintcndc
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.£fi
macnitfcIccofeortciigno.£cofituttclecofeDiranie.£
cofirutKlecoleoarientocoom7c.
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fimcttonoal(I'bjo.mafencfarico2doalericozdance.pcrdx
frapocbigiojnilaibariauere.
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mo2iaakrkoTdaa^cperclxpjeftolaiarcndcrc.
£ommelifcriuonoliree(ddieoanariepicfoliealtreabreuiature.
lirefoldioanarfpidolilibbxonceoanarpefigranicarat<oucatifiozinlargbt.
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flfbcccc?Irrrruj*.
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80

89. THINGSTHATSHOULDBERECORDEDINARECORDBOOK(RECORDANZE)OPTHE
MERCHANT.
Allthehouseandstoregoodsthatyoumayfindyourselfpossessedof—theseshouldbeputdo^vnin
order—thatis,allthethingsmadeofironbyitself,leavingspaceenoughtomakeadditionsifnecessary
;
alsoleavingroomtomarkinthemarginthethingsthatmightbelostorsoldorgivenaspresentsor
spoiled.ButIdon'tmeansmallthingsoflittlevalue.
Makearecordofallthebrassthingsseparately,asIhavesaid,andthenarecordofthetinthings,
andthenthewoodenthings,andcopperthings,andthenthesilverthingsandgoldthings,alwaysleaving
enoughspacebetweeneachclasssothatyoumayaddsomething ifnecessary,andtoputdownamemo-
randumofanyobjectthatmightbemissing.
Allsuretiesorobligationsorpromisesofpaymentthatyoumightmakeforsomefriend,explaining
clearlyeverything.
Allgoodsorotherthingsthatmightbeleftwithyouincustody,orthatyoumightborrowfromsome
friend,aswellasallthethingsthatotherfriendsofyoursmightborrowfromyou.
Allconditionaltransactions—thatis,purchasesandsales,as,forinstance,acontractthatyoushall
sendmebythenextshipcomingfromEngland,somanycantaraofwolldililyiistri,onconditionthat
itisgood;andwhenIreceiveitIwillpayyousomuchpercantaraorbythehundred,orotherwise; I
willsendyouinexchangesomanycantaraofcotton.
Allhouses,lands,storesorjewelsthatyoumightrentatsomanyducatsandsomanylireperyear.
Andwhenyoucollecttherent,thenthatmoneyshouldbeenteredintheLedger,asIhavetoldyou.
Ifyoushouldlendsomejewels,silverorgoldvasetosomefriend,say,forinstance,foreightorfifteen
days,thingslikethisshouldnotbeenteredintheLedger,butshouldberecordedinthisrecordbook,because
inafewdays,youwiUgetthemback.Inthesameway,ifsomebodyshouldlendyousomethinglikethe
thingsmentioned,youshouldnotmakeanyentryintheLedger,butputdownalittlememorandum in
therecordbook,becauseinashorttimeyouwillhavetogiveitback.
HowLire,Soldi,DenariandPicioli,etc.,shouldbewrittendownasabbreviations.
Lire;Soldi;Denari;Picioli;Libbre;Once;Danarpesi;Grani;Carati;Ducati;Florinlarghi.
(Seeothersidefortheirabbreviations.)
HOWTHEDEBIT(LEDGER)ENTRIES
AREMADE.
MCCCCLXXXXIII. Lodovico,son
ofPieroForestani,shallgiveon
the14thdayofNovember,1493,
L44,S1,D8,forcashloaned,
postedcashshallhaveatpage2
:
L44,S1,D
:
Andonthe18thditto,L18,
S11,D6,whichwepromisedto
payforhimtoMartino,sonof
PieroForaboschiathispleasure,
postedsaidshallhaveatpage2
:
L18,Sll,D6
CashinhandsofSimone,son
ofAlessioBombeni,shallgiveon
Nov.14,1493,forL62,S13,D
2,forFrancesco,sonofAntonio
Cavalcanti,page2
:
L62,S13,D6
Martino,sonofPieroForabos-
chi,shallgiveonNov.20,1493,
forL18,S11,D6,takenbyhim
incash,postedCashatpage2
:
L18,S11,D6
Francesco,sonofAntonioCa-
valcanti,shallgive,onNov.12,
1493,L20,S4,D2,whichhe
promised topaytousatour
pleasureforLodovico,sonofPie-
troForestani
;page2
:
L20,S4,D2
HOWTHECREDIT(LEDGER)ENTRIES
AREMADE.
MCCCCLXXXXIII. Lodovico,son
ofPieroForestani, shallhave,
onNov.22,1493,forL20,S4,D
2,forpartpayment.Andforhim
Francesco,sonofAntonioCaval-
canti,promisedtopayittousat
ourpleasure
;
postedshallgiveat
page2
:
L20,S4,D2
CashinhandsofSimone,son
ofAlessioBombeni, shallhave,
onNov.14,1493,forL44,S1,D
8,fromLodovicoPietroFores-
tani,L44,S1,D8
;andonNov.
22,1493,L18,S11,D6,toMar-
tino,sonofPieroForbaschi,
page2
:
L18,S11,D6
Martino,sonofPieroForabos-
chi,shallhaveonNov.18,1493,
forL18,Sll,D6,whichwe
promisedtopayhimathispleas-
ureforLodovico,sonofPietro
Forestani
;postedshallgiveen-
tryatp.8
:
Francesco,sonofAntonioCa-
valcanti,shallhaveonNov.14,
1493,forL62,S13,D6,which
hebrought himself incash
;
postedcashshallgiveatpage2
:
L18,Sll,D6
L62,S13,D6
81

90. 8;40AiiulmoVihm04
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ldreffo,perconto d'^ognitrafjlco^^negolioimeoc
corfo.dddiprimoMdrzo iS'^ofnddiultimoFe^
brarodeldittomiUepmo,ntlqudlordwdtdinemedc
giornoingiorno
,hofcriitodimidntdno^nr
inejjbpiuint<ndofcriuere
,perhduer
dueUoconclufocffdlddtoin
IXpdrtide
,lequdlho
—S-^portdkmlli"
bronouofs
gn&to
A
B2

91. MANZONI'SJOURNALREPRODUCED
OntheoppositepageisgivenanenlargedreproductionofthelastpageofDomenicoManzoni'sjour-
nal.Asstatedbefore,thewriterhasnotanoriginalcopyofManzoni'sbookatiiand,thereforeonlythis
pagecanbegivenwhichwasenlargedfromareproductionappearingonpage121ofBrown'sHistoryof
Accounting.
Aswehaveseeninthehistoricalchapter,ManzoniwrotefortyyearsafterPacioli,buthewasthefirst
authortogiveillustrations ofthejournalandledger,althoughinthetexthepracticallycopiedPacioli
verbatim. Therefore,inManzoni'sbookwehavethefirstexpressionsinexamplesandillustrationsofthe
writingsofPacioli.
Thepageherereproduced isthelastpageofthejournalandcontainsthejournalentriescovering
theclosingoftheprofitandlossaccount{Proetdanno.)
Wewillnotethatthedateisinthemiddleatthetopofthepage ;thatthenameofthedebtorac-
countisseparatedfromthenameofthecreditoraccountbytwoslantinglines,thus://;thateachentry
isseparatedbyalineintheexplanationcolumnonly(notinthemoneycolumn)
;thatimmediately to
theleftofeachentrywefiindtwofigures,separatedbyashorthorizontallineordash ;thesearethepages
oftheledgertowhichthedebitandcreditareposted,thetopfigurerepresentingthedebitandthelower
onethecredit.Immediatelybeforethesetwofigures,wefindtwoslantinglinesordashes ;theyarethe
checkingmarks.WewillseethatPietrausesadotinthisplaceandthatPacioliprefersadotbutmen-
tionsacheckmarkoranyothermark.Theyarenotthetwoslantinglineswhicharedrawnthroughan
entrywhenithasbeenposted. Thesetwowefindrepresentedinthetwolittlediagonaldashesatthebe-
ginningandend,aswellasontheunderandupperside,ofthelinesseparatingthejournalentries.The
writerbelievesfromthedescriptionshehasreadandiUustratioushehasseen,thatthesedashesarethe
beginningandendofthemuchdescribed"diagonallines"andillustrates hisideabythetwolineshe
addedtothereproduction inthelastjournalentry.Theomissionoftheselineslikethatofthestanding
linesinthemoneycolumn,isprobablyduetolackofprintingfacilities.YouwillrecallthatPaciolimen-
tionstheselinestobemadeatthebeginningoftheentryandattheendoftheentry,justbeforethelire
sign.
Thenumbersfrom294to300intheleft-handmargin,aretheconsecutivenumbersofthejournalen-
tries,whichManzonialoneandnootherwriterhereinreferredtomentions.
Ontherightwefindthefoursignsofthevariousdenominations, lire,soldi,denari,andpicioli.A
dashisprovidedwhereveracyphershouldappearinthemoneycolumn.
ThetwolinesofprintingabovethemoneyinthemoneycolumnsaremerelydirectionswhichManzoni
astextwritergavetohisreader.Theyarenotapartofthejournalentry.Youwillnotethatheprints
themindifferenttype.Thedifferenceincoinbetweentheuniformoneusedinbookkeepingandtheone
usedlocallyisalsoapparent,asthelocalcoinisgivenasapartoftheexplanation tothejournalentry.
The"p"totheleftofthejournalentryandtotherightofthefiguresinthemarginstandsfor"per"
(ourby),andimmedatelyaftertheslantingdashes"//"infrontofthenameofthecreditaccountis
used"A"(ourto).
ElsewherewehavestatedthatexceptastonumberingthejournalentriesManzonimentionednoth-
ingthatPaciolididnotdescribe.Whilehecopieswholechapterswordforword,insomeofthem,how-
ever,hewasclearer,morebriefandmoresystematicthanPacioli.Wegiveoneofthechaptersasanex-
ample.
83

92. ABSTRACTFROMDOMENICOMANZONTSBOOK
CAP.XIII.
Regolebreuissimedelgiornal&quaderno.
NotaehelaRegoladelGiornale&Quaderno,insecoutieneseicose,cioe.
Dare,Havere,Qualita,Quantita,Tempo&Ordine.
Dare,significadouerdare,cioeildebitore,ounoopiuehesiano.
Havere,uvoldirdouerhavere,cioeilcreditore,oiinoopiuehesiano.
Qualitasonoquellecosedietumaneggi,&sianodiehesortesivogliono.
Quantita,eiluumero,pesoovermisure,opiceioli,ograndiehesisiano.
Tempo,sieilgiorno,ilmese&lanno,sottoilqualetufailapartida.
Ordine,equello,ehenellapreseuteoperaconfacilitainsegnamo.
Ledueprime,sonoaffermative, eprincipaliinogieosa.
Lacosadebitrice,semprevapostaavantialacreditrice.
Davautialacosadebitrice,visiponeunoperaquestomodoP.
Davantialacosacreditrice,visiponeunoAcosiA.
IIP,intalluogosignificalacosadebitrice.
EloAintalluogosignificalacosacreditrice.
IIgiornale,sidivideildebitoredalcreditore,conduelinietteaquestomodo
lequalidinotano,ehedeunapartidadalgiornale,sempreseneeonvien
farduenelquaderno.
IIgiorno,sinotanelgiornaldisopradalapartida.
Etnelquaderno, sinota,dentrodallapartida.
IInumerodelecartedelquaderno,nelgiornale,simetteavantilapartida.
Etnelquaderno, ilmedesimosimettedopolapartida.
LinomidelepartideviveinI'alfabeto,visiponenoamandestra.
EtqueUidelecosemorte,sinotanoamansinistra.
Perlecosevive,quisintendeogniereaturianimata.
Eperlemorte,sintenderobbe,overognialtracosa.
TRANSLATIONOPTHEABOVEABSTRACTPROMDOMENICOMANZONI'SBOOK.
CHAPTERXIII.
VeryShortRulesfortheJournalandtheLedger.
(Inverseform.)
YoushouldnotethattherulesfortheJournalandtheLedgercontainsixthings,namely i
Give,Have,Quality,Quantity,TimeandOrder.
Give(Debit),meansasmuchas"shallgive",thatis,thedebtorbeitoneormore.
Have(Credit),meansasmuchas"shallhave",thisis,thecreditorbeitoneormore.
Quality,bythisweunderstandthethingsyouhandleofwhichevernaturetheymaybe.
Quantity,bythisweunderstandthenumber,theweightorthemeasure,beitbigorlittle.
Time,meanstheday,themonthandtheyearinwhichthetransaction ismade.
Order,meansthatwhichwecaneasilylearnfromthepresentbook.
Thefirsttwoaremostimportantandreferparticularly toaUthings.
Thethingsmadedebtorshouldbeplacedbeforethecreditor.
84

93. Infrontofthatwhichismadedebtorisplaced"Per",iuthisway"P".
Beforethecreditorweplacean"A"iuthisway"A".
The
"P
"
signifiesthatinthisspotthethingsweremadedebtor.
Andthe"A"signifiesthatinthisspotthethingsweremadecreditor.
IntheJournalonemustdividethedebtorfromthecreditorbymeansoftwosmalllinesinthisway
//,
whichdenotesthatfromoneentryintheJournaltwoentriesshouldbemadeintheLedger.
IntheJournal,Thedayshouldbegivenabovetheentries.
IntheLedger,Thesameiscarriedintothebodyoftheentry.
IntheJournal,thenumberoftheLedgerpagesisplacedinfrontoftheentry.
AndintheLedgerweplacethesameaftertheentry.
ThenameofthelivingaccountiswrittenintheIndextotheright.
Andthoseofthedeadthingsarewrittentotheleft.
With"livingthings"isunderstoodeverycreaturewithasoul(ognicreaturaanimata).
Andwith"deadthings"isunderstoodmerchandiseandeverythingelse.
InChapterelevenManzonialsogiveseightrulesforjournalizing. Thefourprincipalthingspertain-
ingtobuying,selling,receiving,paying,exchanging,loaningandgiftsare
1.Theonewhogives.
2.Theonewhoreceives.
3.Thethingwhichisgiven.
•4.Thethingwhichisreceived.
Itshouldbenotedthatherearefourconditionstoeachtransaction. WhileManzonidoesnotexplain
theiruse,aswewillseelateron,Stevingivesustheproperinterpretation forthis,somewhatasfollows
:
Onetransactionwillalwaysneedadouble-entry. IfPeterpays£100wemustconsider
1.Theonewhogives, i.e.,Peter.
2.Theonewhoreceives, i.e.,proprietor.
3.Thethingwhichisgiven, i.e.,cashbyPeter.
4.Thethingwhichisreceived, i.e.,cashfromtheproprietor.
HenceproprietordebittoPeterandcashdebittoproprietor,whichcombinedbyeliminating the
quantitiesofsimilarnameandvalue,orbycancelling (asinalgebraa=b;b=e;hencea=c)makescash
debittoPeter.
Manzonithenfollowswiththeseeightrules
:
1.Debitmerchandiseforpurchase.
2.Creditmerchandiseforsales.
3.Debitcashforcashsales.
4.Creditcashforcashpurchase.
5.Debitbuyerforsalesoncredit.
6.Creditsellerforpurchaseoncredit.
7.Debitpersonswhopromisetopay.
8.Creditpersonstowhomwepromisetopay.
InordertogivethereadersomeideaofthescopeofManzoni'swork,wegivehereatranslationof
theIndextohisbook.
PARTI.JOURNAL.
Chapter
1.ThosethingswhichthemerchantneedsandthesystemofkeepingaLedgeranditsJournal.
2.Theinventory,whatitisandhowmerchantsmakeitup.
3.Formandexampleofinventory.
4.Lasturgingandgoodinstructionforthemerchantinconnectionwiththeinventory.
5.Acertainbook,whichmajorityofpeopleuseandwhichiscalledMemorial,StrazzeorVachetta
;
whatitis;howwemustwriteitupandforwhom.
6.Somespeciallittlebooks,whichitiscustomarytouse ;whattheyareandhowtheyarewrittenup.
(Separatedaybooksforpettyexpenses,household expenses, salaries,repairs, rents,separate
classesofmerchandise.)
7.Themannerinwhichinsomeplacesthebooksareauthenticatedbylaw.
85

94. Chapter
8.Thefirstbook,whichiscalledJournal;whatitisandhowitisstartedandkept.(Mentioningthe
fivecustomarystandinglinesofajournal.)
9.ThetwotermswhichareusedintheJournalandtheLedger,theonenamed"Cash,"theother
"Capital,"andwhattheymean.
10.TwoothertermswhichareusedintheJournalandwhicharemixedquiteoften,andwhatthey
mean.("Per"and"A"—DebitsseparatedfromCreditsby//.)
11.Theprinciplesunderlyingtheuseandarrangement oftheLedger. (Authorclaimsthisisvery
dilficulttounderstand;"Per"and"A"usedtoseparatedebitfromcredit,butdoesnotsayhow
tomakedebitsandcreditsexceptthathegivesinconnectionwiththevariousmethodsofbuy-
ingandselling,eightrulesforJournalentry.)
12.ThemannerandsystembywhicheachentryintheJournalmustbewrittenundertheproper
terms.(SamplesofJournalentries,withapplicationofrulesfromChapter11.)
13.ShortrulesfortheJournalandLedger,andthesixthingseachentrymustcontain.
14.Explanationofoldabbreviationsandwhatismeantby''Liredegrossi."Thekindofmoneyused
bymerchantsinbookkeepingandwhichreallydoesnotexist.Commonpeopleuse :Lire=20
soldi;1soldi=12Picioli.
(InDucats.)
1ducat=24grossi.
1grosso=32Picioliingold.
1Pieioloingold=1-15/16Picioliinmoneybycommonpeople.
(InLiredegrossi.)
1lira=10ducats. 1soldo=12grossi.
1lira=20soldi. 1grosso=32Picioli.
1grossoingold=5grossicommonmoney.
15.Explanationneededinordertounderstandtheexamplesofjournalandledgerentries.
PARTII.LEDGER.
1.Thesecondandlastprincipalmercantilebook,calledLedger ;whatitis;howitisopenedandkept.
2.Themannerinwhichtheoldyeariswritteninthisbookandaboutthekindofmoneyusedinpost-
ing.(YearandusuallyalsothemoneyiswritteninRomanfigures;Arabictooeasytochange:
to6or9.Donotrepeatdate,butputaline.Leavenoopenspacesforotherstofillin.)
3.ThereasonforhavingtwoentriesintheLedgerforeachsingleentryintheJournal.
4.ThemannerinwhichweusebothtermsforeachentryintheLedger.("A"ondebitofLedger,
"Per"oncreditofLedger;unliketheJournal,where"A"denotescreditand"Per"debit.)
5.ThemannerandsystemtobeusedintransferringentriesfromtheJournaltotheLedger.(Crosses
Journalentryoffwithonediagonalline,atthetimeheenterstheLedgerpage,butdoesnotsay
wheretoputthisline.)
6.ThemannerofmarkingentriesintheJournalwhichhavebeenpostedtotheLedger.
7.ThetwonumbersoftheLedgerpageswhicharewritteninthemarginoftheJournal,whentheen-
tryispostedfromtheJournaltotheLedger,theoneabovetheotherandseparatedbyaline.
8.Anothernumber,whichwewriteatthebeginningofeachentry,throughwhicheachentrycan
easilybelocatedagain.(NumberseachJournalentryconsecutively.)
9.ThemannerinwhichtheentriesarecarriedtoanotherplaceintheLedgerwhenonepageisfilled.
(Cancelblankspaceoneithersidetolowestplaceofwriting. BalancenotenteredintheJour-
nal.Carriesbalanceonly,withanabbreviationwhichmeans"Carriedforward.")
10.Themannerandsystemwhichshouldbefollowedinthecheckingofthebooksinordertodetect
errors. (GivesLedgertoassistantandkeepsJournal,thusreversingmethodofPaeioli.Hedoes
notuseadotbut"anothermarkthanthatusedfirst." (Seechapter6aboveandtwolinesbe-
foreeachentryinthereproduction.)
11.ThemannerinwhichacorrectionintheLedgerismadewhenwehavepostedanentrytothewrong
pageintheLedger. (Nevercrossthewrongentryoutoreraseit,foryoucannotprovewhat
wasthere,andhenceitwiUbeconstruedasdeceit. Ifanentryispostedtodebitthatshouldbe
credit,putanotheronthecredittooffsetit,forsameamount,thenproceedcorrectly.Marker-
roneousandcorrectiveentrieswithanXorH(havere)
;somemakecorrectioninoneentryby
usingdoubletheamount.) '^^^^ii'-'
12.Howtoprepareanaccountforadebtororacreditorwhenheasksforastatementofhisaccount.
86

95. PIETRA'SJOURNALANDLEDGERREPRODUCED
Asstatedinthehistoricalchapter,in1586,ornearly100yearsafterPacioliwrote,DonAngeloPietra
publishedaworkonbookkeeping,whichwasfullyillustrated withnumerous examples. Undoubtedly
PietrahadbothPacioliandManzouibeforehimwhenwritinghisbook,becausehedescribesmatterswhich
ManzouiomittedbutPacioligave,andalsosomewhichMauzonimentionedandPaciolididnot.Thiswill
beexplainedfullyelsewhere.
Pietrawasamonkwhoendeavoredtogiveasystemtobeusedformonasteries,butwhichheclaimed
wasexpedientforthosewhodonottrade,orinotherwords,forcorporationsnotforprofit,andforcap-
italists.Thefirstpageisareproductionofthetitlepage,inwhichthereaderwillfindtheauthor'sname
justabove,andthedateofpublicationjustbelow,thepicture.
Thenextpagegivesachartofthevariousmethodsofbuyingandofselling,ofeachofwhichPacioli
saystherearenine.Pietrasetsthemuphereinafarmoresystematicmanner,showingfifteeninall.
Weshownextthefirstfourlinesofthetitlepagetothejournal,whicharethededicationofthe
journal:"IntheNameofthemostholyandundividedTrinity,Father,Son,andHolyGhost." Also
notethecrossinthesixthlinewhichisthesignusedforthefirstjournalandthefirstledgerwhenbegin-
ninganewbusiness. SuchjournalandledgeraswehaveseeninPacioli,iscalledthe"crossjournal"
andthe
'
'crossledger.
'
'
Nextwegiveapageofthejournal.Promthispage,wenote
:
(1)Thatthefirstpageofthejournalcarriestheopeningof"IntheNameofGod."
(2)Thatthereaftercomesthedateinthemiddleofthepage.Thedateisnotagaingivenuntilitis
changedandthenonlythedayofthemonthisgiven,omittingtheyearandthenameofthemonth;"a
didetto,"meaning"onthe dayoftheaforesaidmonth."
(3)Thateachjournalentryisdividedbyaline,notclearacrossthepage,butfrompagecolumnto
moneycolumn.
(4)ThatasinManzoni'sjournal,nostandingdivisionlinesinmoneycolumnsaregiven(probably
duetolackofprintingfacilities).
(5)Thatthemoneyconsideration ofeachentryisnotonlymentionedinthemoneycolumnbutalso
intheexplanationofthejournalentry.
(6)Thatthenameofthedebitaccountisgivenfirstandthecreditlast;thattheyaredividedby
twosmallslantingstrokesfollowedbythepreposition
"
a"likethis ://a.
(7)Thatthenameofthedebitaccountisnotprecededby"P"orby"Per"asPacioliandMan-
zouirequire.
(8)Thatthepagesoftheledgertowhichtheentriesaretransferredorpostedaredividedbyahori-
zontallineordashbetweenthefigures,thedebitbeingalwaysontopandthecreditbelow.
(9)Thateachentryhasabriefbutfullexplanationofthetransactionrepresentedbytheentrj'.
(10)Thateachentryiscarefullycheckedwithadot(notacheckmarkasweuseandPaciolide-
scribedoradashasManzonishowed)ontheleftoftheledgerpagesinthejournal. Thesedotsalsoap-
pearinfrontofeachledgerentry.
(11)ThatPietrashowsnocombinationjournalentryorentrieswithmorethanonedebitorcredit.
(12)ThathedoesnotshowthediagonalcancellationlinesinthejournalasaneAadenceofpostingto
theledger.
(13)Thathedoesnotgiveanyothervaluesignthanthe"Lire,"omittingthesoldi,denari,and
piciolisigns.
(14)Thatheverycarefullyprovidesadashinthemoneycolumnintheplaceofthecyphers.
Theillustrationsofthejournalarefollowedbythoseoftheledger.Thetitlepagecontainsthename
oftheledger,inthefifthline"Libromaestro"(masterbookorprincipalbook).Theledgerhasthesame
dedicationasthejournal.
FoliooneofPietra'sledgeristheequivalentofanopeningbalanceaccount,givingthenameofthe
oldandnewaccount,thepageintheoldledgerandthepageinthenewledger,itbeingpostedfromthe
closingbalanceaccountintheoldledgerandnotfromthejournal.Theassetsareonthecreditsideand
theliabilitiesonthedebitsideoftheledger.TheaccountshowsadeficitofL1706-10-3.Theassets
aredividedintwo:first,theaccountsreceivableandtheirtotal,thenthemerchandiseandotherspecific
accounts.
ThispagecorrespondstotheEnglishformofabalancesheet. Itistheproprietor'shalfoftheopen-
inginventoryjournalentryplaceddirectintheledgerinsteadofinthejournal,andassuchthisrepre-
sentsaproprietor'saccountuponthetheorythattheproprietor iscreditedforfurnishingorloaningto
thepersonification oftheassetaccountsandchargedwiththenegativeassetsorliabilities.Asourmodern
capitalaccountrepresentsanetdifferencebetweenassetsandliabilities(leavingsurplusoutofconsidera-
tion),itcannotbesaidthatPietraemployedamoderncapitalaccount,altlioughtheresultisthesame.
87

96. Page59ofthisledgeralsorepresentsanaccountwiththeproprietororowner,andisreallyacontin-
uationoftheaccountonpageone.ThefirstentryonthedebitisthebalanceanddeficitofL1706-10-
3,
properlytransferredfrompageonewithouttheaidofajournalentry.Thefollowing fiveentriesare
entries"correctiveofthenetcapital,becausetheyrefertotransactionsofpreviousyearsandareoflittle
importance forourstudyexceptthattheyshowthattheprincipleofsurplusadjustmentsthenexisted.
Tlieseventhentryonthedebit,ofL4-17-10,referstothesameledgerpageasthisselfsameaccount
bears(namely,59).Wefind,therefore,thecreditendoftheentryonthecreditsideofthispage.This
entrydoesnotcomefromthejournal,butismerelya"cross"or"wash"entryinthenatureofamemo-
randumforthepurposeofrecordinganomittedtransaction. Notehowcarefullybothentriesaremarked
withalittlecircle(o)tosetthemofffromtheothers,muchthesameasweuseacross(X)nowadaysfor
thesamepurpose,andasPacioliandManzonialsomention.
Thelastentryonthedebitside(L3744-0-3) ismadealsowithouttheaidofthejournal. Its
counterpart isonpage61oftheledger. Itrepresesentsthenetworthorcapitalinvestedattheendof
theyear,andbalancesonpage61withthedifferencebetweenassetsandliabilities,andismerelyameth-
odicalclosingentryinorderthatallaccountsmaybeclosedatthetransferofallopenaccountstothe
newledger.
Onthecreditsidewefindthefirstfiveentriestobesurplusadjustmententries.Thesixthoneisthe
crossentryalreadyexplained,andthelastone,L5448-10-5,isthenetprofitbalancetransferredfrom
ledgerpage60withouttheuseofthejournal.Herethenwehaveanaccountnamed"Monastery," the
proprietorforwhichthesebooksarekept. Itstandschargedwithacapitaldeficit,creditedwiththean-
nualprofitsandclosedwithadebitbalancerepresentingpresentnetworth,identicalwithourpresentday
Capitalaccount.Thedeficitintheopeningentry,aswouldappearfromthetext,seemstobeduetothe
lowvaluesgiventothefixedassetsinordertoavoidheaviertaxationbythechurchauthorities. Theac-
countshowsnodefiniteledgerheading,althoughthefir.stwordontheleftpage''Monastero"(monastery)
isthenameoftheproprietorandisnotrepeatedineachentry.ThesamemethodPacioliandManzoni
describeandthereforewehavenotapproachedclosertothedefiniteledgerheading.
Page60representswhatwecalltodayan"IncomeandExpenses"account,sometimesmisnamedbut
beingsimilartoa"ProfitorLoss"accoiint. Itisnotsonamedhere.Thedebitsideiscalled"Spesa
Generale"(GeneralExpenses),—thecreditside"EntrataGenerale"(GeneralIncome).
Itshouldberememberedthatthesebookswerenotkeptforamercantileestablishment,whichoperates
withtheobjectofaprofitinview,butonlyforamonastery,aneleemosynary corporation,aninstitution
orcorporationnotforprofit,henceitcouldnotusethewordsprofitorloss.
ThebalanceonthedebitofL5448-10-5istheexcessofgeneralincomeovergeneralexpenses,and
istransferred topage59,whichwehaveexplained istheproprietor'saccountoreqiiivalenttoourpres-
entcapitalaccount.
Page61containsthelastpageoftheledgerofPietra'sbook. Itissimilartopageone,exceptthat
debitsandcreditsarereversed.Herethenwehavetheclosing"Balanceaccount,"called''Esito,"which
meansfinalorexit. Itaccuratelyrepresentsourmodernbalancesheet,butisplacedintheledgerasa
permanentrecordandusedasamediumtocloseallaccountsintheledger. Itusuallywasandquite
oftennowisthecustomtostartanewledgereachyear,henceallaccountsshouldbeclosedwhentheledger
islaidaway. PaciolinorManzonidescribethisaccount.Theytransfertheopenbalancesoftheasset
andliabilityaccountsdirecttothenewledger.
YouwillnotethattheclosingentryofL3744- -3onthecreditistakenfrompage59,themonas-
teryorcapitalaccount.Youwillalsonotethatitisonthecreditsideoftheaccount,andatotalofthe
liabilities isdrawnbeforethefinalbalance. Thisisnotdoneanywhere elseintheledger,showingthat
thisaccountisdifferentandrepresentstwopurposes:one,thatofafinaltrialbalance(afterProfitand
Lossaccountsareclosed)andthusbecomesastatementofassetsandliabilities;and,further,thatnet
worthorcapitalisnotconsideredaliability,butanitemdistinctfromliabilities,forthepurposeofclosing
thecapitalaccountintheledger,andtransferring itinthenewledger.
Page21oftheledgerisgiventoshowhowcarefullyallblankspacesarecancelledbyslantinglines
;
howaccountsarekeptintwokindsofmoneywiththeaidofadoublecolumn ;thatnoreference ismade
tothepagesinthejournalfromwhichtheentrieswereposted,forthereasonstatedinthetextthatthe
datewasacloseenoughreference;thatthejournalentriesarenotnumbered,aswasdonebyManzoni.
Pagesgivenimmediatelybeforetheamountsrefertotheledgerpageonwhichtheothersideofthedouble-
entryappears;notethatonthedebitthepreposition"a"isusedforour"to"andonthecredit"per"
forour"by;"followingManzoniinthisrespect,butentirelyopposedtoPacioli'steachings,openingand
closingentriesdonotcarrytheseprepositions ;becausetheydonotconstitutetruedebitsandcreditsas
thosetransferredfromthejournal
;printersthen,asnow,makeerrorsinfigures,asthefourthfigurefrom
thebottomofthedebitsideshouldbe250insteadof205,asperadditionandtheopeningentryonpage
one;theexplanationinthejournalisrepeatedintheledgerandmorethanonelineisusedforanentry
ifneeded ;asinglelineisdrawnunderthefiguresonlyandthenthetotalputin;theword"somma"
(total)isusedinfrontofthefiguresinsteadofthedoublelinem'cnowruleunderthetotal;nototalsor
linesaredrawnwhentheaccountcontainsonlyoneitem ;everyentryiscarefullycheckedwithadotin
theleftmargin ;thenameoftheaccountisengrossedatthebeginningofthefirstlineontheleftand
thusapproachesthedefiniteledgerheadingofthepresentday ;thedatebelongingtoeachentrj^isnotset
outinadefinitecolumn,althoughthetextmentionsthis;"deedare"(shouldgiveordebit)and"dee
havcre"(shouldhaveorcredit)isonlystatedonceatthebeginningofeachaccountandnotineveryen-
try,aswewouldinferfromPaciolithecustomwas.
88

97. Inordertogivethereaderaclearunderstanding ofwhatiscontainedinPietra'sbookandtoshow
howmuchmorepolished,completeandadvanced itisthanthebookofeitherPacioliorMauzoni,andto
indicatethemanynewfeaturesheintroduces,wearegivinghereabriefdescriptionofeachchapterinthe
natureofanindex.
1.Daybookorscrapbookandsimilarbooksarenecessaryinordertogetjournalandledgeringoodform.
2.Explainsdebitandcreditasto"A"and"Per"—our"To"and"By,"andthetwolittlelines//
whichseparatedebitsfromcredits.
3.Makesadistinctionbetweenbookkeepingforbankers,merchants,andcapitalists.
4.Describesthethreeledgersforthesethreemethods.
5.Sayssomemoreabouttheledgerforcapitalistandcallsitthe
'
'EconomicLedger.
'
'Authoruses
thiskindofledgerinhisbookofsampleswhichheadaptstothebusinessofamonastery.
6.Thefirstpartoftheinventorycoveringimmovableassets.
7.Thesecondpartoftheinventorycoveringmerchandiseorgoodsforuseinthehouse(notfixtures
—
theybelongtomovables).
8.Thethirdpartoftheinventoryofmovableassets.
9.Givestabulateddetailedinventoryofthemovableassetsofamonastery.
10.Aboutqualifications ofbookkeeper,namely,brightandofgoodcharacter;goodhandwriting; also
knowledge,ambition,andloyalty,andgivesreasonsforeachofthese.
11.NecessityforuseofbutoneparticularcoinintheLedgerasthemoneyusedinItalyisofsomany
differentvarieties. Hereisused
1Scuto=4Lire=80Soldiingold.
12.Describesthemeasuresandweightsusedbytheauthor.
13.Putavalueonthosethingswhichareharvestedandmanufactured, butthisshouldbelowerthan
currentpricessothattheproceedswillnotfallbelowthisvalueincaseofsale.Whathasbeen
usedshouldbechargedtotheproperdepartmentattheendoftheyear.
14.Aboutthefigurestobeused.TheRomanfiguresaredifficulttochange,butbecausefraudulent
changesaremoretobefearedbybankersandmerchants,heusedtheeasierandmorecommonly
usedArabicfigures.Changescanbeeasilypreventedbyputtingthemoneysignforliredirectly
infrontandseparatingthedivisionsofthelirebylittledashes,thusL18
-8-2—verymuchthe
sameasdoneatpresentinEngland.
15.Aboutthefiscalyear. Itcanbeginwhenonechooses,butmustbetwelvemonthslongandmustkeep
thesamefiguresforthesameyear,namely,fromJune1,1586,toMay31st,1586,not1587.
16.Daybooksormemorandabooksarenecessarybecausethejournalandledger,duetotheirlegalau-
thentication,canbeusedonlybytheonebookkeeperappointedthereforandwhosesignatureap-
pearstherein. Furthermore, transactionsmustbewrittendownatthetimeandtheplacewhere
theyoccur,andthatmaynotbewherethebooksarekept.Therefore,thereareseveralmemoranda
booksconcurrentlyused,thefirstoneofwhichismarkedwithacrossandthosewhichfollowwith
aletterintheorderofthealphabet.
17.Thereshouldbeatleastthreeofthesedaybooksormemorialsused—oneforthecashreceiptsand
disbursementsandthedepositsinthebank;oneforthepettycashdisbursementsandoneforall
otherentriesfromwhichthejournaliswrittenup,thelattertobeingreaterdetailthantheothers.
Otherdaybookscanbekeptwiththesalesandpurchases,rents,taxes,etc.Abookisneededforthe
libraryandinformationpertainingtocontracts, leases,employes,duedates,etc.Receiptsfor
moneyloanedshouldbekeptinboundbookformsothattheymaynotbelostorstolen.Eachde-
partmentheadshouldkeepsuchabookwithitstransactions, suchastheshoemaker,gardener,
tailor,etc.
18.Describesablotterorticklerwhichcontainsasheetforeachmonth,andalineforeachdayinwhich
thedutiesofthestorekeeperandbutlerarewritten,oneforeachdayintheyear.
19.Givessuchabookinfulldetail.
20.Aboutthejournalandhowtokeepit.Journal isbasisoftheledgerandthereforeitisessentialthat
itiskeptcorrectly.
21.Thebeginningofthejournal,inthenameofGod.Thevalueofprayertosuccessandtheuseof
thelittlecross(t)asexplainedelsewhere.
22.Entriesshouldbemadeinthejournalfromdaytodayandhourtohour,butsometimesthisisnot
possible,especiallyinamonastery,wherethememorandaordaybooksofthevariousdepartments
aredeliveredonlyonceamonth.
23.Aboutthemannerandorderinwhichtheentriesaremadeinthejournal.Alistofdaysonwhich
entriesaretobemadeispreparedbydaysfromaUthememorandaordaybooks,thecashentries
alwaysfij-st.
24.Givesanexampleofthislist.
25.Eightthingsalwaysneededtomakeaproperjournalentry :Debit—Credit—Time—Value—Quality
—Quantity—Price—Arrangement
;
Thefirsttwobeingthemostimportant.
26.Thegreatestdifficultyistofindwhattodebitandwhattocredit. Allentriescanbereducedto
threeprinciples.
89

98. 27.Listofabovethreepriuciples
:
1.(Receipt,sales,paymentofauaceoimtdue,borrowing.
(Disbursement, purchase,pajinentofadebt,loauiug.
2.(Purchasingoncreditorforcash.
(Sellingoucreditorforcash.
(Exchangingwithmoneyorwithout.
3.(Assignmentofadebttosettlewithacreditor,orviceversa,calleddrafts.
28.Aboutthesixotherthingsneededforaproperjournalentry.
29.Howthejournalisarranged. (Seereproductionofjournalpageandexplanatorynotesappended;
omitstheconsecutivenumberingofJournalentry,assomanydo,becausethedateisasufficient
guidetolocatetheentryinthejournal.)
30.Abouttheledgeranditsformation.
Explainstheopeningaccountonpage1oftheledger,andstatesitisthereverseoftheclosingac-
count.Herehementionsdebitasdebitoandcreditascredito,althoughheusuallystatesdebitas
"decdare"andcreditas"deehavere." Capitalaccountisthekeyandthesealoftheledger.
31.Explainstheuseofthetwoledgeraccounts—
"Opening"and"Monastery." "Opening" iswhat
themerchantcalls"Capital"andpracticallyheclaimsthesamefor"Monastery."
82.Explainswhatentriesmaybemadeinthecapitalaccount. Correctionsoferrorsandprofitsorlosses
belongingtopreviousyears.Whatwecallsurplusadjustments.
33.Givesatableofsuchcapitalaccountentries.
34.Aboutthearrangementofaccountsintheledger,thecapitalaccounttobeattheendofthebook.
35.Listofaccountsintheledger.
36.Theordinaryindex.
37.Thespecialindex.
38.Postingfiguresinthejournal(oneabovetheother).
39.Howtheentryiswrittenintheledger.("A"ondebitsideofledger,"Per"oncreditsideof
ledger.)
40.Transfertoanewpageismadebydrawingthedifferencebetweenthetwosidesandtransferring
thistothenewpage.
41.Howtocorrecterrorsintheentries.
42.Entrieswhicharewrittendirectintheledgerwithouthavingbeenputinthejournal.
43.Abouttheincomeandexpenseaccountandthemethodofbuyingandselling.Theauthorherestates
thatmerchantsusethisaccountfortheirprofitsorlosses.
44.Thevoucheringbyasignatureoftheprincipaldisbursements.
45.Aboutthedifferenceinbookkeepingforlandrentedandthatcultivatedforone'sownaccount.
46.Threeprincipalreasonswhytheincomeshouldbedividedoverthesameaccountsinwhichtheex-
pensesandsalariesareseparated,namelytoeachdepartmental sub-division.
47.Whenthebesttimeistoentertherentalsfromlauds.Inthefallwhentheharvestismade,asat
theendofthefiscalyearisabusyenoughtime.
48.Aboutpersonalaccountsandthecarryingofaccountswithtwodifferentmoneyvalues.
49.Aboutthecashaccountintheledger,anditspeculiaruses.
50.Abouttheacquisitionandalienationoflands,forwhichseparateaccountsareprovided.
51.Abouttheaccountswithpartnersorjointventures.
52.Whenandhowtocheckwithdots.
53.Ashortmethodofcheckingwithdots.
54.Howtotakeatrialbalance,whichalsoconstitutesthebalancesheet.Dividesthesameinfour : 1,
expenses ;2,income ;3,assets ;4,liabilities.
55.Howtofindtrialbalanceerrorsinacheckedledger.
56.Howtorefuteawrongopinionaboutthetrialbalance. Explainsthefactthatwhiledebitsand
creditsmustequal,thatsuchdoesnotmeanthattheassetsequaltheliabilities.
57.Howtocomputetheincomeandexpenseaccount. Thisheconsidersthemostdifficult,assomeac-
countswillhavethreeclosingentries,—oneforprofitonsales ;oneformerchandiseusedbyother
departmentsofthebusiness ;andoneformerchandise remainingonhand.Furthermore, meas-
uresandweightsshouldalsobebroughtinbalance.
58.Themannerinwhichtheclosingbalanceaccountismadeup.Accountsareonlyruledattheendof
theyearbyalineunderthefiguresoramounts ;tlienenteringthetotal,^vhichmustbethesameon
bothsides. Ifanaccountisclosedduringtheyear,onlyalineisdrawn,butthetotalisputinside
thecolumnandnotundertheline.
59.Aboutothermethodsofclosingtheledgerandtheirshortcomings. Heretheauthordescribesseveral
methodsusedatthattimeofclosingaledgerandprefershisownbecauseitgivesfinallyinoneac-
countthestatusofthecapital,whereastheothermethodsdonotdoso.
60.Howanaccountisrenderedtothechurchauthoritiesattheendofthefiscalyear.
90

99. Inthecomparativeindexwehavegiventheitemswhicharediscussedbyallthefourauthorsthere
mentioned. Thereare,however,anumberofitemswhichsomeoftheauthorsuseandothersdonot.
Fromamongthese,thefollowingaretakenasthemostimportant.
Pietradiscussesthefollowinginhisbook,butPacioliandManzonidonot
:
Chapter
3 distinctioninbookkeeping forbankers,merchants,andcapitalists.
4 describesthreeledgersforthesethreebusinesses.
5 describesmoreindetailtheledgerforcapitalists—called"EconomicLedger."
7 inventoryofmerchandiseinstores.
10 qualificationsofbookkeepers.
12 descriptionofmeasuresandweightsusedinbook.
13 putvalueonthingsharvestedandused,andthosenotsoldbutusedinotherdepartments.
15 describesfiscalyear—usesamenumerals,althoughcalendaryearchanges.
17 separatedaybooksforthefollowingsubjects :cash—bank—pettycash—library—contracts
—
leases—salaries—duedates—loans—andoneforeachdepartment.
18&19dailyticklerforbookkeeperandstorekeeper's duties.
22 journalwrittenuponceamonthinamonastery,becausealldaybooksareinuse.
23 theorderinwhichtransfersfromdaybooktojournalaremade—alistofthispreparedbefore-
hand—cashentriesalwaysfirst.
25&28eightthingsalwaysneededinanyjournalentry.
26&27rulesforjournalizing.
29 arrangement ofjournalwithfivestandinglines,butomitsnumbersofjournalentries.
31 dividescapitalintotwoaccounts—openingcapitalatbeginningofyear—closingcapitalat
endofyear.
32 interimentriesincapitalaccountorsurplusadjustments.
33 tableofsuchcapitalentries.
34 capitalaccountalwaysatendoftheledger.
37 specialindex.
39 apparenttransposition of"A"and"Per"inledgerfromitsuseinjournal.
42 listofentrieswhichdonotgothroughjournal.
43 voucheringofdisbursements.
45 bookforlandsrentedandcultivatedforownaccount.
46 incomedividedinsameaccountsasexpenses.
47 whentoenterrentals—infallorendoffiscalyear.
48 personalaccountsandaccountswithtwodifferentvaluesofmoneys.
50 acquisitionandalienationoflands.
53 ashortmethodofcheckingtheledger.
Pietramentionsthefollowinginhisbook,asdoesManzoni,butPaciolidoesnot,provingbythis
thatPietrahadapparentlyavailablebothManzoniandPacioli:
morethanonememoriale
fivestandingor"down"linesinjournal
definiterulesforjournalentries
sixthingsalwaysneededineachjournalentry
abouttransposition of"A"and"Per"inledgerfromitsuseinthejournal
(Pietradoesnotexplaindefinitelyalthoughhisexamplesgiveit.)
numberingofjournalentries.
Pietra'sChapter33explainsallentrieswhichmayappearinthecapitalaccountandillustrates
themwiththefollowingtabulation
:
1.Duringtheyear
2.Attheendoftheyear
1.Duringtheyear.
A.Profits.
a.omittedcredits
a.collected Cashtocapital
b.uncollected Debtortocapital
b.judgmentsobtained
a.collected Caslitocapital
b.uncollected Debtortocapital
91

100. a.omitteddebts
a.paid
b.tobepaid
b.
a.
b.
judgmentslost
a.paid
b.tobepaid
balancesofaccounts
a.whatisdue
b.whatisowed
balancesheetadjustment
a.whatisowed
b.whatisdue
B.Losses.
Capitaltocash
Capitaltocreditor
Capitaltocash
Capitaltocreditor
2.Attheendoftheyear.
A.Extraordinary Accounts.
Capitaltocreditor.
Creditortocapital
severalkindsandwithout
connectionwiththebooks
B.OrdinaryAccounts.
a.
b.
excessinexpenses
excessinincome
Capitaltoincome
Expensestocapital
Pietra'sChapter42explainsaboutthemanyentrieswhicharemadeintheledger,withoutgoing
throughthejournal,andclassifiesthemasfollows
:
Referstoentrieswhichwetransferfromtheoldledgerintothenew,partlydaily,partlyattheend
oftheyear.
1.theintroduction
2.theopeningofcapitalaccountwhenitistransferredfromtheclosingcapitalaccountandnot
fromanewinventory.
3.balancestransferredfromoneaccounttoanother.
4.contraentriestocorrecterrors.
5.profitorlossduetoinventoryadjustments.
6.thebalanceoftheincomeandexpenseaccount.
7. allclosingentriesattheendoftheyear.
8.theclosingoftheclosingcapitalaccount.
92

101. INDRIZZO
DEGLlECONOMI.
OSIAORDINATISSIMA
INSTRVTTIONEDAREGOLATAMEMTE
FORMAREQ.VALVNOVESCRITTVRA
INVNLIBRO DOPPlOi
AGG IVNTOVIL'ESSEMPLAREDfVNLIBRO
MOBILE^CO'LSVOGlORNALE,ADVSODELLA
CONGREGATION CASSINESE.DELL'ORDfNE
01 S(TEnCDEtto
qONDVETAVOLEjLVNA DECAPITOLI,ETLALTRA
DELLECOSEP[VDEGNE.APIENO
INTENDimENTO OlCIASCVNO
Operanuoua,nonmcnovtilechcnecefl'ana,a Rcligio<l,cheviuonodclleproprie
Rcndite.&adogniPadrediFamiglin.chefidiletti
delLibroDoppio
CotspofhldaDo&AQgcIo PiecrjGenouefeMoiiacOy&indegnoferuodiGieruChrirco,
INMANTOVA.PcrFranccfcoOfanna.ConliccnxadeSupcnori. MDLXXXV
93

102. TauolaAnalitkadellejopra/cnttequmdicipartite, (ap.27*
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94

103. NOME^DELLA
SANTISSIMAET
INDIVIDVATRINITA*
PADRE,FIGLIO,ESPIRITOSANTO.
GIORNALEDELLIBROMAESTRO,
5EGNATO*DELMONASTER O,
DELGLORIOSOPRECVRSOR
D ICHR ISTO.
SANGIO.BATTISTADORIANA,
DELLANNO. 1586.
ComlndatoadiprimoGiugno .ScrittodameDonGabriellodaParma
,
Cellerarodeldetto Monaftero^diordine delmolcoReuerendo
PadreDonRomanoSenefeAbatcdellaCongregation
Calsinefe,dell'ordinedelnoftroSantifsimo
PadreBenedetto
.
So

104. ALNOMEOrDIO,
i
AdiprimodtGitigno1586.
PerCartolcria/aCafla.IireventiS10.fpefeinqueftolibrodoppio, colfuoGiorna
V le&Alfabeto,conaltreduevacchette,e fquarciafogli f—20-10—
.jt
Mutationi AaCafla,lirecmquantacinque^ lo.date.cioe/iz.alP.D.Benedet-
todaBolognaDecano ,mutacoqueftocapitoloaModona,perfiiamuutic
—
nedivnarino,ebuonamano.e'jf55—10.dateaDonGio.PietrodaSalo,
'**
mutatoaPraglia.perfuamutationedivn'anno.fpefcfatte,ebuonamano,co
meperlororiceuereappare dillintamencenelhbrodiefsi —jf—JJ—»o
—
Dette/,aD.MaurodaPiaceoza Concelleraro.lirediaTette^ i2.c0nteaD.Va-
—
icntinianodaNapolirautatOflTloma,per fuamutationeebuonamano,dime
'^^
finoue,ch'eidimor6inmuefloMCTi3f?ero,comeperfuoriceuere ^—17—11
—
ArilIderto.
.?»Cafla/'aFedericobarbarolTa mjlyhefe.liretrecentoquarantaotto^ii.con-
.'5/ temipermanodiMarcoSolharioform3ggiaro,abu6cotodcl Aiodebitoj?—548-11-
•35D.MauroConcelleraro/ aCa{r3.iirecentottenta ,contegliperfpendere,
T}» comealmiolibrettoa.^paredilllncamente ^_ijo
•38F.ThomafodiValcamonicafpenditore/ZaCafla. lirenonantafette^14.8.con
•J* tegliperfpendereaminuto 3?—97—14—8-
.;8CornelioLandinofcruidore'/aD.MauroConcelleraro, lireuenti,daluiha-
•3J uutcabuonconcodelfuocredito gf
^o
J^Cafla"adAleffandro delSoleAffittuale,lirequattroccntoottantafette.p 10.
'S« daluihauutcabuoncontodelfuodebito -^—487—ro-
±2P.D.PlacidoMantouanoRettorediBadia/aCana,lirecencoquaranta,contc-
•3I glidafpendcre ,comealmiolibretto 3?—140
j39F.ManfuetoITrefcianocunodealPriorato//aCa(ra,lirefettaiitacinque, con-
~j
i teghdafpendereintornoallepoflefsioni #—^75-
40P.VigilantioComafcoOblato.cuftodea SantiMartiri/aCaffa.lirecetouenti,
•3* mandateglidafpendere,pcrmanodiFabritioGallonoftrofattore jf—120-
•'
;
LimofineaD.Maiiro,lireotto,dated'ordinedelReuerendoP.Abate,adal-
.35 tunihebreifattichriftiani—
3? 8
^58BerengarioSerpcntinocamparo//aF. Manfueto,lirefette.F'o.daluihauute
,39 abuoncontodelfuofalario x—-7—lO-
Adij.detro.
^8m-SigirniondoTranquillo/ZaGordiandLampridioaffiittualejlircdugentoot-
.ji tanta,contegUanoftronomeinpagamento ^—a8o
jlf
Badia//alP.D.PIa<iido,lirevndeci$iS.perdodiciraftelIadori,&24.forchedi
•37 legno,compreperraftellarc&cuftodire ilfieno,comealfuolibro 3?-..xi—i8-
Jj?S.Martiri//aF.Vigilantio,lirefette^i5.5.perdicce palecompreperlofru-
4°mento,cornealfuolibroapparc X-—7—ij-^-
Aa
96

105. NOMEDELLA
SANTISSIMAET
INDIVIDVATRINITA*
PADRE,FIGLIO,ESPIRITOSANTO.
LIBROMAESTROSEGNATO 4^,DEL
MONASTERO, DELGLORIOSO
PRECVRSORDICHRISTO,
SANGIO.BATTISTADORIANA,
DELL'ANNO.1586.
CominciatoalprimoGiugno. ScrictodamcDonCefariodaCremona,
monacodeldettoMonafterojdiordine delmoltoReuerendo
PadreDonRomanoSenefeAbate,EdelP,D.Gabriello
ParmiggianoDecano
,cCellerarodeldetto
Monaftero,dellaCongregationCa(si»
nefcJdellordinedelnoftro
SantiflimoPadre
Benedetto.
97

106. 1585.
fNTROITOdelprcfentelibro+decdareadiprImoGiugno,
percrrinfrafcrirtiCrcdicofidel
Moaadero.quuirati dairEflto
delUbroJoll'annopaflaco.fegaacoZ.circe
48(5.&aquello da
..^
Icat!lorocomeappreflb.cioe.
.AlTenarionidaUibroZ.-
car.4i9.TiratoiQquefto libro car.15
Vcn.,CongfegaiioiKnoftraCafsinere—430 A—j5—4
j-d-car.4*
B.D..ClemenccAleni —
.
4?i car.4^
m..OtraUioFortunatoinVinCgia—
456 Alaoo.a
yper100.car.45
m.
.QuiatilianoPoetainVinegia 45<5 A-6oo.a4per100.car.45
m..PompilioDefideratoinVmegia—4j<J A-600.34perr00.car.45
m..BanhobSaladinoin Vinegia 457 A500.34per100.car.46
m..ZacheoVeraceinMilano 437 A-doo.a
4
per100,car.45
.MarioPaimcrino 4^8
car.49t—547-15 S--
•RamondoPipmo 453
car.48t-49J
'<>
m..SabinoPiftoia 458
car.48
sf

107. tSi6.
.DEchaiierfadiprimoGiugno,pergl'infrafaittiDcbitoridelMonancro
,
quitiracldallEficodellib.dellannopaflatofcgnatoZ.car.436.8iaqucl
lodaicontilorocomc appreflo.cio^
R.D..Lorezodc'SimonidallibroZ.carc€i4? iTtratoioqucftoUbro- car.
m.
.CarloBianchinocontodi tempo450
.EmanuellcClaudiaaoc6coditcpo-4Ji
.AttolfoCorrado 4SS
.Maggiode'PopoIi-
.ColtanreDragone-
.TibcrioScellaro
4S5
45S
4j6
4S<S.OitaufanoGiordano
.AlcdandrodelSoleafrittuale— .
.GordlanoLatnpridioaffittuale—45
S
.FedericoBarbarofTamalghcfc 459
.MarinoOrlaodomolinaro 4<5i
.RicardoSalomonemolinaro 4^»
-.CafsianoAmirante molinaro 46j
.DeodatoFalconemaflaro 46$
,Dem«trioConteftabile malTaro—4^6
.ValerioLeonimalTaro 467
.FabricioGailofattore 47'S
457
.CcledinoRofTofcruidore—4B0
m..Zerb)ntoQnaranragiaaf/itruale 481
ro..MarcoT.Villanuouagiaafficruale 4^*
.faufloGiouialegi3noQrom3fliro484
.ImiocentioMaioranogiafattore-431
•LconcioManfredigianollromol.48
j
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.Ordinaria
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.FornodrFarina
—
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.Barbaria
.CantjnadiuinoinCamerone-
.Cantiaadetta •-
.Cantinadiuinodiuerfa
3i}S3lcPcfi70.
314FormaggioPefi50.-
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367ftarai5S.daucnderca;3-i8 "f-^^^
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99

108. D
M«6. 21
Eehauerea><t'a^.Lugb'o pcTCranaroviclMonaflcro,perloprezzo
conmiunca a.diftara196.rMimento4i3autcgHqueiVanno,come
allibrode'Granariappare dntinrjoicntC car.27#—ipJ
-Ecpiii perGraxiarodifrurtJenrata,hauuragliquenoanno,raglona-
taa^^orrerzocommune—— car.37^—i^^-—
-
•Etadi26.0ccibre/perCanrinadeJMonafJcro,pcrcarra ig.uino,
hauutoglicomefopra.ragionatoa/'s.prezzo commune car.j?3?—90
.Etpiu/perGranarodiM!glio,f>ara46,ragionaroai jo. car.a83?-.^p
JEcpiii/perCranarodiMelega,llara45i.iagionataa F20. car.257^—48
itadi11.Maggie,perF.Vigilanrio,h3uutidaPi68.dipratoaffirta
toa^5.4.aSimoneOuarnaccU car.40g?—41—iz-
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/peri^quilaCradifoafBttualeex parter.per
loprezzocommunea;^2,dIltara256iruinentonedecquefta raced
ta.perlofittodelpriraoanno car.5s3?-500
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ragionataa}20.prczzocommune
• car.Jig?—40
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mefopra,ragionatoalprezzocoounune car.52^—90
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meibpra.ragtonatoa/S.prezzo commune—
,
car.^a^—jo-
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ftoquartoannofinitoaS.Martino,dapagarcicomealfuocococar.5*3^-400-
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.Etpiu/perGranarodiLegumi>ftara8.hauuti,&ragionat>ucfUcar, a^^—it-
itadiatf.Ottobrc
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car.25x~.6o-
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tileMaffimino,aXio.ilpefo,permanodelP.D.
PlacidoRettorein Badia car.
34
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109. PI?
86.
lETRASAf.DAdi'iada!Fondiconccchfo.Maflarianoftra, deedareadi
uicimoMaggio/aValerioLeonimaf?aro.per carrezzi ,&opetcda
ItiihauucequcA'jnuccome alfuoiibrofaJdacodaccordodiHinca
mcnteapparc-^—
r car.
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/loconco—— 'II
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56/_.ji_.i7.
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I'Eotraagcmicaledi^ucil'aoDO^tiratognper'fiJdo -
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tratagcneralediqueft'anno, tiratogliperfaldo -car.tfojf-.it'f-.io-
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todiqucfto,pcrreftoquiriratodacar.jd^.libroZcar. lpefijo—
3!—»oj
•
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incircaalprezzo^&quantica car.i6pcfi75—/—
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101

110. Mist
6.
ONASTEROnoflro delgloriofoPrccurforc ,edcgnoMartiredi
ChriftoS.Gio:BattiftaaOriana,quaIe noflroSig.perfiudiuinabo
tafidcgnidiffcndcrc.cprofperare,deedareadiptimoGiugno/al-
rintroitogcncralc diqucft'anno.tiratogli dacar,484.dcllibro Z.
dell'annopaflato car. igPI70<5»—lo—
j-
i, ,Etadi7.0ttobre /aCaflajContiaDelioPefcatore,inpa^amentodi
quantoreflauaadhauercperpcfcedaluihauutoqueftaquarefima
paflatajcomepcrfualiftainfilza car.j»jf•—pj—<i5
—
6-
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cegliannipafTatijComeperrualiftainHlzaappare diflinramcte^che
perifcordononfi /criffcro car.50gf—47—8
T Stpill/aCafla,contiam.BartholomeoCaIcinato,inuirtudivnafen
tenzadeltaRuota,peracquagoducagiidaoonridiBadiagliaiini
patTatiidclIafuarataparte,comcappareneg]iacci dim.AndreaLo
douicinotarodiftufamcnte car.^2X—ijj
8
.Et
p'U/aSantoSquarcialupo,per tantiglidouemopagatefraotto
mcfijinuirtudiunafentenzadellaRuota,vfcitanegliatti deldetto
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tualcaS.Remigio,con lefpcfc —car.joX—
IJ5—10—«—
a ,EtadiultimoMaggio/aF.Thomarofpenditorc,per faldodifiiocon
toquitirato,perfuariooccorfogliqueftoanno car.jpX—o»—
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3f—4~''7—*o—
,Etpiu/all'Efitogcneraledi queft'anno,tiratogli perfaldodiquefto
conto —
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102

111. D1SS6.
59
- EehaucreadiprimoOttobre /
perCafTa.contonedalR.P.F.Pietro
MartiredaTurinodiS.Domenico,pratihauiitidaunpeniccte.in
fodisfattionedivnodebitofuo,chenoifihaueuamofcordaco-car.31JC—ia7-«i5—8-
> .Etpiii/perRiginaldoCampione.per laBofchettadelVallone,datta
gliI'annopafTatodatagliare,edapagarneaS.Micheleprofsimo
paflatOjchcnonfifcriflepecifcordo
car.47X»—jo
3
.Etpiii/perCaflajContonedaDoninoTurchinogianonroAffittualc,
invirtudiunaSentcradiRuora.perlodannodaluihauiicoinarbo
ritagliati,enonpiantatiinqueltempo,comenegliattidim.Vince
zoRoflTonotaroapparediltintamcnte car.^ajC—146
4 .Etpiu/
perNaftagioCalandra,pertantinedceinuirtudi unafen-
tenzadelMag.Podefta.perI'lnterrcflcpatitoinunoparodicaual-
lidacarrozzauendutihe perfan
i car.47
jP—90—
10 .EtadiultimoMaggio/perD.Maurofecondo Celleraro
,
perfaldo
delfuoconto,nelqualecfeguitofuarioqucfto anno car.S<SX—1—tS—
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»—
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j—
103

112. 1586.
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dodcgliinfrarcritticOnti,qui tiraci,&ertiDti dalleloiopertitereo
nieincfsieontidiflincameiiteappare dot
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—
car.
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car.
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—
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,Salariati
—
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.Sagriftia
.Acquiftifatti
Somma#2i^5o—ip^io—
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104

113. ;58<5- ^o
1.NTRATAgcneraledfqueO'annofiniteadiultimoMaggio
,deehauere,
per(aldodegrinfrafcrittiCoiiti quitirati.&eilintidalleloroparti
te^comeinefsicontidirtintamcnteapparecioe
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car.17t4427-.19-10-
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car.i»t1805—
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car.19ti6ir—3
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car.19?-179-14—»-
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car.20tioio-i8
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.Honorata.Maflarianoftra car.v>t195«8
.PietraSalda.Maflarianortra car.21t.-7JI—.IJ—
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3—4-
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f.
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114. 0)
in<
158<).
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•
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.ValerioLeonimaflaro car.
.VittoriOjcCortcfc Palladiniroaflari car.
.KinaldoSanfonemaflaro car.
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—
car.
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Incrsigibi!i,&alungotempo
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ipauftoGiouialegiamaflaro car.
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-——-car.
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Reftantidiqueftoapno
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.Dauenderc ftara
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115. ET
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infrarcritridebitidcIonanero,qui riratidaicontiloro.cioe
m..BartholoSaladinoin Vincgia.aCenfoA joo. car.46
m..AquilaGradiro affictnalejcontoditempo car.j»
R.D.CIemcntcAIcnino.'iroCurat*— car.
43
.FabritioGallonoftrofatrore car.57
.DelfinoCommodocamparo——— car.58
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53
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(^
MAINARDI'SJOURNALREPRODUCED
lu1632thereappearedinBologuaaworkoubookkeeping,writtenbyMatteo^laiuardi. Tiiisbook
isoffarlaterdatethantheonesheretoforementioned,butasexplainedintheliistoricalchapter itis
remarkal)le inthatitattemptstodeseril)e.besidestliesystemforthemerchants,oneforthekeepingof
executors'andtrustees'accounts. ItfollowsPietraandjManzonicloselyinagoodnmnyinstances.
Theillustrationshavesmallvalueforusexcepttoindicatethelittleprogressthatwasmadein
ItalywiththeshiftingofthecenteroftradefromItalytoHolland, asSimonStevin'sbookherein-
afterreproduced,whichwaspublishedin1604inHolland,wasfarinadvanceoftliisofMainardi's.
V.'ereproducethetitlepageofthesecondeditionofthishook,andapagewhichexplainsthepurpose
ofthetiookasfarastrustees'andexecutoi-s'accountsareconcerned. Thetwopagesofthejournal
wegiveinordertoshowthateachpageisprovidedwiththeaddresstotheDeity,thatthedotisiised
forchecking,andthatweherefindso-calledcoml)inationjournalentries,bywhicliwemeanentries
inwhicharecombinedmorethanonecreditormorethanonedebit inoneentry.Wedo
not,however,findtheuseofthev.-ord"sundries," asinStevin'sworkandasweuseittothisday. It
willhenotedtliatiuKuchentriesthedeljitsnrealwaysnamedfirstan<litemizcilhefoi-ethecreditsare
enumerated,andthatthedivisionbetweendebitsandcredits ismadewithtwohorizontal linesor
dashes,onebelowthelastdebitandoneabovethefirstcredit.Wealsonoti'theabsenceofthemoney
signs,excepttheprincipalortlieliresign.
107

116. ILCAMBIO
REALE
PER
OGNlPIAZZA.
FormaJmenteRagguagliato
DA
MATTEOMAINARDI.
CondiuerfialtriQuefitivtili,curiofi,eneceHarij
aliaMercatura
htjue/lamouaImpreffiane4ggiantoiti ilmode,
cbehouidi
fi
fratica
,
INBOLOGNA, M.D.CC
PerilLonghi, Conl$cenz,4tU^Superim,
108

117. M.DC.XXXIV.
Laude,egloriadellaSatitifsima,&Indiui-
duaTrinitaPadre,Figliuolo,cSpirito
Santo;dellaGloriofifsimaVergineMaria,
delliSantiApoftoliPietro,9Paolo,edelli
SantrN.N.noftriProtettori ,comeancora
dituttalaCorteCeleftiale. Amen.
QueftoprefenteLibrochiamatoGiornale.di forma
N.dicarteN.copcrtodiN.di cartenum.N.efegnato
N.bdiRutigliohgliuolo delgiaSig.LeonidoFonga-
rellipupillo,d'etad'anniN.& erede (6abinteftato,b
tcftamentario )delfudettoSigLeonido,paflatoami-
gliorvitalii<$.Gennarodelprefenteanno,fottola tu-
tdadiN.fopradel quale,permanodiN.faranotato
regolatamente,eformalmente,ogniqualitadibeni
ftabili,emobili,beftiami,debitor!,ecrcdicorideld.
giaSig.Leonido,eperconfeguenzahorafpettance al
medefimoSig.Rutigliofuohgliuolo,&erede,come
fopra;efuflceuentemente cutcePentrace,^efpefe,
chefraPannoSguiteranno inqueftaeredita,lequali
partitetuttefarannoleuatedaqueftoLibro
,eportate
permanodelfudettoN.fopravnaltroLibrochiamaco
LibroMaeftrodiforma,carta,coperta, efegnocome
quefto,dicartenum.N.afuoi appartati.luoghi, con-
formeeloftileMercantile,chepcrbcftbPupillo(eper
eifoilSig.N.fuoCommiftario Tcftamentario)intende^
chelifiadatapiena.Siindubitatafedeingiudicio,e
fuori
.
InfededicheSec.
SoN.C^mwifArhTefl.&<,affertnotjtumtodifsp'i^^
loN.ScriuanoaicettOye£iurejtcantodifopra.
A ClOR-
109

118. '^
1
3©
LausDeo,&B.Virg.RofarijM.DC,XXXIII,
AdijI.DeccmbreSabbato,
.xo
.II
.iz
II
II
8^
9
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9
^fpefedifuocoUr.vimifeiyfo/.trKden.duequat.pernum.ottocentoqimdici Fa/ft
\
dacauazzatura^enum.quattroam'ottamadue dtfiteferbatipercafa. /..C
^credtti)Fajpdacauazzattrranum.81j. L.20.7.6. I
^cnditoFajjtdivttenum482
.
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I
sA}t\Mfiivnnit^c.albanco/ir.^uattrocen(orre,fol. tredici,den.qutittroqnatlipor-
tailnojiroCaneuarolontanti
,retrattifinoaqueftogtornojudetto, dtFaJJidisci'
rrnl/adacauazzaturavendutiaminuto, (tbohgninifectelacartca,entimerofet-
tcnnlladiytte,abologntnitrentadueilcento,come/tvedepervnataglia. I.^405.
1!•4
^creditoFa/ftdacauazzaturatncafanum.loooo. £,.291.13.4
^crcdttoFajftdtnteininjnnum,7000, i.112, .
26.5.2
^lucaBarhtnino/irolauoraprealiaTofsffjponediTondilir,(entodici(ifettequat,I
cioelir.centoperItpattiindenaricontanti
,eUr.diciafettepercorbequattro
\
dtOrzohauutopiumeftfonodalno/froFattore,alir.quattro,fol,cinquelacorha,
\
d'accordo. t.Cii7.
^credttoalia'PofsefstonediTondi. Z..100,
|
^creditoOrzoaMontoriocor.^. /».171 1
DomemcoManganeliono(no :xuozzo.aiiarojsejjtQne (tineiioiiir.cemoquaram 1
•v«<i,fol.ctnquequat.cio^lir.centouintiperlipatti
,cbedeuepagareindenari
I
lir.vem'vnayfol.$.percorbe5.d'orzobauutadalFattorc^d'accardo. !.[;
^crednoaliaTofsefstonediBello.
^creditoaOrzotngranarodiMontoriocorbe
5
L.120.
L.21.
J.
jlLiuioCarboni
,efrateilinojMmezznitioliaMantorialir.centofejsamutri
,fol.
due.,den.feiquat.ciohlir.cemoquaramaperlipatti,cbepagaindenari,elir.
venture,ifol.due,dm.feipercorbecinque,emezad'Orzabaunto,d'accordo. L.^iS^.
Ucreditola'PofsejftonediMontorio . L.140.
s/icreditoOrzoaMontoriocorbecinque,emeza.
3.6
140.
/.,23.2.5,
,J.AngeloSufa
nojiroSuozza^Romanellalircentoquarantatre ,fol,due,den.fei
\
quat.cio^lir.centouentiperlipatticbepagaindanari,elir.vintitre^[qI.died,
\
den.feipercorbecinque,emezad'Orzohauuto,d'accordo,piudlfom. £.(,143, 2.6
.AcredttolaTofejfionediRamanello . Z..120.
I
^creditoOrzoingranarodiMontoriocorbetinqne.emeza. L.23.2.6, 1
^Mt-
110

119. LausDeo,5cB.Virg.RofarijM.DC.XXXIII.
31
9
lO
)
Adl^ifDccembreSabbaco,
'
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^MicbiklandinellinoflrohracenteaRomanello lir,vintimue
,c/ot*lir.vintiper
J
lapigionedellacafa,eItr.nonequat.percorhedue,quar.duedorzo,bamtopiU*
gioriufonodalFattore,d'accordo. i-C
^^'
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,AcreditoLmgodiRomanello, £i20.
|
sAcreditoOTzoingTimarocoT.z.qt*ar.2. L.g, I
.
I
*^fpefe
d'Elemo/ine lir,cen(onorjanta,fol.otto,quat.difpenfate ilHatalepajfatoadi-
1
uerfiLmgbiTtJ,&apoueridellanojlr^7arockfa,perPanimadelSig.Leonido,
'
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112

121. NOTESONYMPYN
WearereproduciugherewiththetitlepageofYmpyn'sbook,whichwehavetakenfromKheil'sbook,
whereathoroughcomparativestudyismadebetweenYmpyuandPacioli.Ympyn,aswehaveseen,was
thefirstDutchwriterwhopracticallytranslatedPacioliintoDutch,FrenchandEnglish,andfromhim
continentalEui'opehasderiveditssubsequenttextsonbookkeeping. Theoriginalofthisbookwasnot
availabletothewriter,butwehavetakenfromKheil'sbookthemostimportantsubject-matterswhichwe
reviewinthefollowinglines
:
Ympyn,asstatedheretofore,copiedPaciolipracticallyverbatim.Wefind,however,hereandtherea
fewdeviationswhichwethinkitimportanttomentionatthisplace.
Paciolispeaksaboutthetwodivisionsofhisbook,onecoveringinventoryandtheother"disposi-
tion." lieissomewhatvagueinexplainingthislatterterm.Ympynsaysthat"disposition" is"the
establisliment,systematizingandexecutionofthecurrentandcustomaryas-wellastheextraordinary af-
fairsofabusiness.
Ympynsuggeststhattheindexshouldbeboundinparchmentandplacedeitheratthebegiiniingor
theendoftheledger,butinsuchamannerthatitcanbetakenoutifnecessary.HeusestheItalian
terms"Per"and"A"unti-anslated. Infrontofcorrectiveledgerentriesheusesacrossanddoesnot
mentionanyotherdistinguishingmarks.Theterm"cash" ispersonified tocashierinsteadofpocket
book,asusedbyPacioli.Heenlargesontheterms"Cash"and"Capital"morethanPaciolidoes.For
branchstoresthesalesareenteredintoasalesjournal,andtotaledonceaweekfortransfertotheledger.
YmpynismoreextensiveinhisexplanationsthanPacioliaboutbarratoortrade,alsoaboutthedraftand
itsuse.Weshouldremember,however,thatPaciolidescribesthesemorefullyinthepartsofhisbook
notcoveredbythesubjectofbookkeeping.
Ympynrecommendsaseparatebookforhouseholdexpenses,andapettyexpensebookforthesmallex-
pensesofthebusiness.Thetotalsaretransferredfromthesebookstothejournalonceamonth.Hemen-
tionsaspecialcashbookforspecialkindsofspeciesorforforeignmoneywhichishandledbythefirm,
verymxichassomebankstodayuseaseparateaccountwithbanknotesoflargedenominations. Head-
vocatestheuseofseparatebooksforstatistics,ormemoranda, inthenatureofdiaries;andsuggestsa
shippingbook.Astoaccounts,hementionsinterest,building rents,groundrents,expenses,household
expenses,merchandiseexpenses,buildingrepair,gardenexpenses, salaries,loans,expensesofchildbirths
andanaccountformarriagegifts.
LikePacioliandManzoni,Ympynusesaprofitandlossaccount,verymuchthesameaswedotoday.
Healsodrawsoffabalancetoprovethecorrectnessoftheledger.Ympjoi,however,putsthebalanceat
theendoftheledgerasanaccount,althoughhedoesnotexplainitassuchinhistext ;inthishedoesnot
followPacioli.Hebalancestheprofitandlossaccounttocapitalaccountwithoutpassingitthroughthe
journal.
Ympynspecificallymentionsthatmerchandisemustbeinventoriedatcostandheusesamerchandise
inventoryaccount,towhichallaccountsshowinganinventoryofmerchandiseorgoodsonhandareclosed
andthenthisaccountinturnisclosedtothebalanceaccount.Hedoesnotjournalizetheseentries.How-
ever,wefindthathedoesjournalizehisprofitandlossitems,asdoesManzoni,butwhichPaciolidoesnotdo.
Assetsinthebalanceaccountareputonthecreditsideandliabilitiesonthedebitside.Heusesno
openingbalanceaccountinthenewledger,butevidentlypostsfromtheoldbalanceaccountintheold
ledgerinreverseordertothenewledger,becausetheclosingbalanceaccountintheoldledgergivesthe
foliostowhichtheitemsarepostedinthenewledger.WehaveseenthatPaciolisaysthatyoucantrans-
ferthecapitalaccounteitherasabalanceinoneitem,oritemized ;thelatterhavingtheadvantageof
thenrepresentingasummaryoftheinventory,andeachnewledgerthenstartswithaninventory.
Thejournal,profitandloss,capital,andbalanceaccountsillustratedbyYmp^-nareprintedinKheil's
GermanreviewofYmpyn,bTitweregretthathedidnotreproducethemactually, aswithth(^modern
printingmuchoftheformandarrangement islost.
Ympynpermitsnoerasures.Hewishesalinedrawnthroughthewrongamountorwordsthesame
asPaciolidoes,inordertobeabletoproveofwhattheerrorconsisted.Heinsiststhatexplanations to
thejournalentriesmustbesoclearthatanybodycanunderstandthetransactionstheyrecord ;thatbooks
keptintheItalianmannerasdescribedbyhim,withajournalandaledger,"makeeverythingasclearas
daylightandwillpreventswindlesanddefalcations, asoccurnowsofrequentlyandalmostdaily."
Headdsthefreighttothemerchandiseandpostsittothemerchandiseaccount.Hedeprecatestrad-
ingonlongcredit,andannounces itasbadbecause"thewolfdoesnoteatanydaysandtheduedate
comesnearernotonlybydaybutaswellbynight.
'
'
ThetwodiagonallinesofwhichPaciolispeaks,areusedinthejournalwhentheposting isfinished
andintheledgerwhentheaccountisclosedortransferred tothenewledger. CapitalaccountYmypn
creditswdththeassetsanddebitswiththeliabilities,whichagreeswiththeideaofthepersonifying of
accountsandresultsinanetcreditinthisaccovmt,whichnetcreditisthesameasweuseinthecapital
accounttothisdaJ^Ympynusesnoledgerheadingsandshowsbutonecohnnninthejournal.Heuses
Romanfigiiresinallmoneycolumns,bothledgerandjournal.
113

122. STEVIN'SJOURNALANDLEDGERREPRODUCED
Thefollowingpages,Nos.119to136,representreproductions ofthejournalandledgerandother
interestingformsasgiveninthebookofSimonStevin,whichappearedintheDutchlanguageinAm-
sterdamin1604,wasrewritteninTheHaguein1607,republished inLatinin1608,andrepublishedby
Stevin'ssouHendrickin1650.Aswehaveseen,StevinwasatutorandadviserofPrinceMauritsof
Orange,thenGovernorofsomeoftheDutchprovinces. StevinfirsttaughtthePrincebookkeepingand
theninducedhimtoinstalladouble-entrysystemofbookkeepingthroughouthisdomainsandgovernment
establishments.
Stevinapologizesfortheuseoftermsinforeignlanguages,suchasdebit,credit,debitor,creditor,
balance,journal,finance,etc.,butsaystheyarenecessarybecauseifheusedDutchtermsthebookkeepers
wouldnotunderstandwhathewaswritingabout,andasbookkeepersonlyaresupposedtoprofitbythe
regulationspromulgatedandorderedbyMaurits,thePrinceofOrange,forthedouble-entrymunicipalac-
countingsystem,heinsiststhathemustusetheforeignterms.
TheobjectionofthePrincethatgovernmentclerkswouldnotunderstandItalianordouble-entrybook-
keeping,heovercomesbyadvisingthathecouldhireandshouldhireclerkswhodidknowit,fortheyun-
doubtedlywouldbebettermen.
Theobjectionstothenecessityofdouble-entrybookkeepingformunicipalitiesandgovernmentsherea-
sonsawaybystatingthatamerchanthassomedirectpersonalsupervisionoverhisbookkeepersandcash-
iers,butthegovernmentmustdirectthemthroughotherpersons.Asthisisnotassafeasthemerchant's
personalsupervision, itfollowsthatifamerchantneedsdouble-entrybookkeepingandfindsitprofitable,
thegovernmentneedsitthatmuchmore.
Stevindoesnotgiverulesforthemakingofjournalentries,butheexplainsadifficultywhichthe
Princeevidentlymet,whenthelatterasks:"IfPeterpaysme$100,therearetwodebitsandtwocredits:
Iamhisdebtorandmycashisalsoadebtor ;heismycreditorandliiscashisalsoacreditor. "Whichtwo
ofthesefourmustIselectformybooks
?
'
'Stevinanswers :
'
'Takealwaysmycreditorandmydebtor
becausePeterkeepsbookswithhiscreditorandhisdebtor."
StevinurgesuponthePrincethatgovernmental treasurersinvariablybecomerich,andwhentheydie
leavesuchamuddledstateofaffairsandrecordsthatthereisnothingleftbuttoforgiveandforget,but
thatsuchisnotthecasewithbookkeepersandcashiersofmercantileestablishments ;theyinvariablydie
poor.Amerchant,hesays,knowswhathisbookkeeperorhiscashierortreasurershouldhave,butthis
isnotsowithaPrince,whohastotakethecashier'swordforit.
ThePrincethenasksifbookkeepingeverhadbeenworthyofsuchconsiderationthatbookswerepub-
lishedonit.Stevinrepliedthatnumerouswritershadtakenupthesubject,andthatwhiledoubtlessthe
double-entrysystemwasoriginatedinoldentimes,yetinItalywhereitissaidtohavebeenexecutedfirst,
itisconsideredanartofwhichnootherissohonorableandworthy.
ThePrince(apparentlyflooredbyStevin'slucidarguments)thereuponagreestotakeupthestudy
withtheviewofinstallingdouble-entrybookkeeping inthegovernmentaldepartments assoonasStevin
andhewerethroughwiththeirstudiesofalgebra.
Stevinhasafirmplaceintlieheartofthewriter,becausehementionsinhisbookthatoneofhisfor-
bearswasatreasurerofthecityofFlissingen,thussupplyingthemissingdataforthegenealogyof
hisfamily.
Comparisonofthejournalandtheledgerwiththereproductions oftheItalianwritersheretofore
given,willatonceshowthatinprintingaswellasinarrangement theDutchwerefarsuperiortothe
Italian.AcomparisonwithPietraandMainardiwillmakethisveryplain.Theexamplesmustbepro-
noup.cedasbeingexcellentfortheirtime.Thejournalentriesaredifferentlygroupedthanhasbeendone
byanypreviouswriters,verymuchmoresystematic,andinmanyinstancesonlytotalsfromotherrecords
areused.
Itwillbenotedthatallreligioustermsatthetopofpagesoratthebeginningofbooks,customarily
usedintheItalianmethod,havebeenomitted.TheslightestreferencetotheDeityisabsentinthese
books,duetothefightforreligiousfreedomwhichthenwagedinHolland. Stevinwasagreatsupporter
oftheProtestantparty,somuchsothatBrownrelatesthatwhenin1645aproposalwasmadetoerecta
statueatBrugestoliismemory,aCatholicagitationwasarousedintheHouseofRepresentatives tode-
feattheproject.EvenaclericaleditorexpungedhisnamefromaDutchdictionaryofbiography,where
ithadappearedinearlieredition.s.Howeverthatmaybe,thewriterhavingbeenborninHollandand
therehavingkeptnumeroussetsofbooks,canvouchthattwentyyearsagothemajorityofbookswhich
cameunderhissupervisionwereopenedandclosedinthenameoftheDiety.
Stevin'somissionoftheuseofreligioustermswasfolloM'edinEngland,whereasEuropetothisday
followsYmpyuandothers,whichiscorroboratingevidencethatStevinthroughDaffornehasinfluenced
EnglishandAmericanbookkeepingmorethanhasMellis,whofollowedPacioliintheuseofreligiousterms.
Throughapeculiarcoincidencetheuseoftheterms"pepper"and"ginger"appearasfrequentlyin
hisillustrationsandexamples,astheydointhoseoftheItalianandotherprevious^Titers.
Stevinpersonifiestheimpersonaloreconomicaccountswhenhestatesthatcashaccountisanaccount
withthecashierandfollowsthisideathroughoiithisworkinconnectionwithotheraccounts.Hemen-
114

123. tiousthethreemethodsofbuyingandsellingtheretoforedescribed bj-theItalians,namely,onaccount,
forcash,andintrade,andthecombinationsthatcanbemadewiththesethree.Likeliispredecessors,he
statesthatinthebeginningofeverybooktwoentriesarenecessary,wliichsliouldcovermereliaiidise,and
cashonhand,asalsothedebtsowingandaccountsowning,andlikePacioliandYmpynheexplainsfully
thatsometimesabusinesscanbestartedoncreditbuthedoubtstheadvisability.
Stevinisthefirsttousethesystemofcontrollingaccounts,andasshowninthefirstpageherewithre-
produced,inthesecondlineafterthetable,thesamenamefortiieseaccounts isretainedtoday, lieuses
theword""coiitrcrole," wliiclicomesfromtheFrench"controler,"whichinturncomesfromtheIwoLatin
words"'contra"and"rotulus"(ourroll)and"'rota"(ourwheel).Thedefinitionoftheword"con-
trol"is"tocheckbyaduplicateregister"or"verifyanaccount." Thetotalofhiscontrollingaccount
wasobtainedfromthedetailedmonthlyreportsfromthesub-treasurers orcasliiersofthevariousplaces
anddepartments,andwerepostedtothesecontrollingaccountsthroughthemediumofjournalentries.
Fromtheseaccountstableswerecompiledshowingthedelinquencies foreachyearofeachsub-treasuryor
ofeachplace.Hedescribesthatanendlessvarietyofthesetablesmaybemadeinordertoshowthetrue
statusofthevariousoperationsatvariousplaces.Healsostatesthatifnotablesaredesired,thenthere
shouldbeaseparateaccountforeachcolumninthesetables,andespeciallyforeachyear.Thetablere-
producedshowshowparticularandcarefulhewasonthissubject.
Theledgershowsboththepageofthejournalandthepageuponwhichtheotiierpartoftiiedouble-
entryappearsintheledger. Thisisoneofthefirstwriterswhoentersthejournalpagesintheledger.
Thepagesofthejournalare,however,putinthemargin,ontheleftofthedateintheledgerandnot
directlytotheleftoftheamount,asweareaccustomed todoatthepresenttime.Theexplanations in
theledgerwillappeartoyoutobeshorterandclearerandmoretothepointastorelevancythanwas
customaryintheItalianmethod. Itshouldalsobenotedthattheterm"per"isusedonbothsidesofthe
ledger. Stevinsaysthatmanybookkeepersuse"a"onthedebitsidewhereheuses"per." liesug-
geststhathismethodismorereasonable,ascanbelearnedbytranslatingtheentryinanordinarysen-
tence;thus,whichisbetterlanguage? "Peterisdebittome'for'('per')peppersoldtohim,"or"Peter
isdebtortome'to'('a')peppersoldtohim."Hethenstatesthatitisnotamatterofimportance,that
hisreaderscandoastheylike,buthewishesthemtofollowthebettersentence.
Inthejournalhedoesnotusetheexpression"per"beforethedebitor,nor"a"beforethecreditor,
nordoeshedividethemwiththetwoslantinglines//asdoPacioli,Manzoni,PietraandYmpyn.Stevin
simplyused"debitper"betweenthenamesofthedebtorandcreditorthuscomingclosertoourpresent
formofjournalentry.
Itisdifficulttostatewhatthetwodiagonallines(//)betweenthedebitsandcreditsmean.
Inthechapterentitled
'
'DiscursioninTheory
'
'therehasbeensetforthindetailStevin'stheoryofa
doubleentrywithtwodebitsandtwocredits,thuscarryingthetransactionthroughtheproi^rietor's ac-
countbuteliminatingthesamebyalgebraicformula.
ThelateJosephHardcastle,C.P.A.,ofNewYork,in1903,inhis"AccountsofExecutorsandTrus-
tees,"chapteron"ThePersonalisticTheory,"veryplainlysetsforththesameideaelucidatedbyStevin.
HeevengoessofarastostatethatPacioli(hespellsitwithan"i")andManzoniusedtheslantinglines
betweendebitsandcreditstoindicatetheomissionoftheword"proprietor" twice.
StevinexplainsthatRomanfiguresintheledgerarenotneededbecausetheyareneverusedinthe
journal,whichisabookofmoreimportance,andiftheyarenotputinthebookofmoreimportancewhy
shouldweputtheminthebookoflessimportance?Heexplains(asdoesPacioli)thattheledgerisnot
importantbecauseiftheledgerislostitcanbewrittenupentirelyfromthejournal,whereasthereverse
isnottrue,becausethedetailwhichthejournalcontainsislackingintheledger.Hefurtherstatesthat
intheItalianbooksRomanfiguresarenotusedinthedaybook.
Itwillbenoticedthateachpageoftheledgerhasaconsecutivenumber(notaswenumberbygiving
twopages,thedebitandthecredit,oneandthesamenumber). Stevinexplainsthatthisisbetterbe-
causethenallyourdebitpageswillbeunevenandthecreditpageswillbeevennumbers,whichwillaidin
checkingifanerrorismadeinputtingthelittledividinglinebetweenfiguresrepresenting thepagesof
thedebitandthecreditinthejournal,asiscustomaryintheItalianmethod.Thefactthatbutonecol-
umnisusedinthejournal,makesthislittledividinglinebetweenthefiguresofthedebitpostingsand
thoseofthecreditpostingsveryimportant. Stevinfurtherexplainsinthisconnection thatitisstill
moreconfusingwithacombinationjournalentry,wherethereareanumberofdebitsandbutonecredit,
orviceversa,whentheword"sundries" isused.Thisbecausethedebitofacombinationjournalentry
comesfirst,andthereafteranumberofcredits,yetthetotalofthejournalentry(whichistheamountfor
thedebitentry),standsatthelastandthereforethedebitispostedlast,aswillbeseenfromtheillustra-
tionreproduced.
Stevinisthefirstofthewritersmentionedinthisbooktousecombinationjournalentrieswiththe
word"sundries."WehaveseenthatMainardihascombinationjournalentriesorjournalentrieswith
morethanonedebitandmorethanonecredit,buthedoesnotusetheword"sundries."
Intheledgeritwillbenotedthatthefirstentries,ortheopeningbalancesonsomeoftheaccounts,
bearthedateof"0January." Theuseofthecipheratthebeginningoftheyear,hesaysisabsolutely
necessary,becausethebooksareopenedonneitherDecember31stnorJaiuiary1st. Itisaperiodinbe-
tweenthesetwo.Heexplainsthiswiththeillustration thatthefirstrungisnotthebeginningofthe
ladder.
Thedateintheledgerisrepeatedbeforeeachentry,insteadoffollowingtheItalianmethodofusing
thewords"adidetto,"whichmean"the dayoftheabovemonth,"becausehesaj-sthedatetowhich
"ditto"refersmaybeseveralpagesbackandthereforehardtoreadatfirstsight.
11r>

124. UulikePacioli,PietraaudYmpyii,Stevinusesdeliiiiteheadingsforhisledgeraccounts,andisthe
firstonetousetheterms"debit"and"credit"insteadof"deedare"and"deehaver
e.''^
Heputsthe
yearontopofthepage,audhebalanceshisledgeraccountsbymakingasub-total. Closingentriesdo
notgothroughthejournal. Profitandlossaccountiswrittenupattheendoftheyear,andalsoatthe
closeofparticulartransactions,andwliileIStevindoesnotgiveatrialbalance,inhisdescriptionshespeaks
veryparticularlyofthesame,anddescribeshowtoprepare it.Whileinhisillustrationhecreditsalegacy
totheprofitandlossaccount,inhistextheadmonishesthereadertoputittothecapitalaccount,giving
hisspecificreasonsforit.Cashentriesarejournalized indailytotals.Hemaintainsaseparatecash
bookinwhichthereceiptsareputonthedebitandthedisbursementsonthecredit,thesameastheywould
befoundintheledgerifitwerealedgeraccount.Healsoexplainsthatthislooksasifitweredouble
workbutitisnot,asitisnotthebookkeeper'sworktokeepacashbook,butthecashier's.Hefurther
arguesthatbecausethebookkeeper issometimesalsothecashier,thatfactshouldnotaltertherule.He
hasaseparatecashbookforpettyexpenses,inwhichtoentersmallitemswhicharepostedtotheledger
onlyonceamonth,inordertolessenthenumberofentries.
Aboutthereconcilement ofdifferencesbetweenbookkeepers, cashiers,treasurersandothers,heclaims
thatthesevariationsareduetothedifferentclosingperiodsofaccountsandreportsbythevariousofficials,
andrequiresthattheybepreservedbywritingtheirfulldetailinthejournalandmakingareferenceof
thesameontheledgeraccountaffected. Stevinsaysthatastheheadbookkeepersthroughtheserecon-
cilementswoulddiscoverentrieswhichbelongedtoaperiodprevioustothedateoftheirdiscoveryand
theirentryinthejournal,thatthecurrentdateonwhichtheentryismadeinthejournalshouldbeused
inthatbook,butthatintheexplanationtheoriginaldateshouldbeused(wenowuse"asofdate"soand
so).Buthewarnshisreadersthatwhenpostingtheseentriestotheledger,theoriginaldateandnotthe
journalentrydateshouldbeused.HeadvisesthattrialbalancesbetakeninFebruary,May,August,and
November,whicharecustomarymercantileduedates,whichinturnwillleadtoasettlementofmany
accountsandwillmakethisworkeasyaudlight.Furthermore, itwillgivedataaudstatisticsuponwhich
themerchantscanbasetheirbuying,selling,andcreditbudgetsforthefuture.Headvisesthatthe
Italianmethodofbookkeeping issoadaptedtoexpansionthatwhereasbeforebutonebookkeepercouldbe
employed,underthedouble-entrysystemanynumberofbookkeeperscanbeused,for,iftheworkbecomes
toomuchforonemanthesystemshouldberevisedsoastoi^rovideforcontrollingaccounts. Thismeans
topostintotalsonly,sothatonesub-divisioncanbegiventoabookkeepertobecontrolledbyonehead
bookkeeper,whodealsintotalsonly.
Astothecashbook,itisusedbecauseitobviatesthemakingofnumerousjournalentrieseveryday,
thusshorteningtheworkgreatly.Hefullyillustrates this,andtransfersthetotalsofthecashbookto
theledgerbyjournalentries,preferablymonthly.
Stevinprovidesadoublecolumnintheledgeraccountformerchandise. Inoneoftheseheputsthe
weightsandmeasures,andinsiststhattheybebalancedalso.Hesaysthatinhisillustrationshemade
themcomeouteven,althoughheadmitsthatthatveryseldomhappens. Theresult,however,wouldbe
thesame,forthebalancetobecarriedtothenewledgerortobeusedin"thestatementofaffairs"would
bebasedupontheweight,audwhatever isoverorshort,asfarasweightandmeasureisconcerned,would
automaticallyadjustitselfintheprofitandloss.
Heobjectstothenameof
'
'memoriaV 'asusedintheLatincouutriesforthedaybook,statingthat
''memorial" isabookofmemoranda(thingstoberemembered),whereasthedaybookisusedtowritein
roughlythedailytransactionspreparatory tojournalizingthem.Thishecallsablotter.Hedrawsa
linebetweeneachjournalentryfromonesideofthebooktotheothersideofthebook,throughallthe
standinglinesandcolumns.Heexplainsthatthislineisnecessary,becausesomeentriescoverseveral
pages.(Howweaccountantswishsomebookkeeperswouldmakejournalentrieswithexplanationspages
long!)
Stevinsaysitiscustomarytoascertainonceayearwhattheprofitorthelossofthebusinesshasbeen.
Thisiswhathecalls"balancing"or"makingastatementofbalance"or"ascertainingofcapital."For
thispurpose,headvisesto"addtogethercashandmerchandiseonhandandactualaccountsreceivable,
deducttherefromtheaccountspayable;thedifference isnetcapitalprovidedtheaccountsreceivableare
allgood.Thedifferencebetweenthenetcapitaloflastyearandthisyearistheprofitorlossforthe
year."AccordingtoStevin,themakingofastatementofaffairswasnotdoneconcurrentlywiththeclos-
ingofthebooks,thelatterbeingdoneonlywhenanewledgerisopenedorwherethemerchantretires
frombusinessordies.
Toprovehisprofitaudlossarrivedatthroughthemakingofastatementofaffairsasaboveexplained,
hemakesupaprofitandlossaccount,whichhecalls
'
'proofstatement.
'
'Therefore, hisprofitorlossis
ascertained firstfromthebalancesheet,andinordertoprovewhetherthatiscorrect,hebuildsaprofit
andlossaccoiint.Howfewmodernbookkeepersandyoungaccountantsunderstandthisprincipletoday
!
Itwillbeseenfromthereproduction ofhisfinancialstatementandprofitandlossaccount,thatthe
profitandlossstatement isjustasitwouldappearintheledgeraccoiintiftheseentrieswerereallyposted
toaledgeraccountaswedotoday.Thebalancesheetthereforerepresentsanunpostedjournalentry,
whereastheprofitandlossaccountshowstheresultofapostedjournalentry.InthisStevinisofcourse
inconsistent.
Stevinmakesthestatementofaffairsamathematicalproblemratherthantheresultofdebitsand
credits.Headdsandsubtracts,butdoesnotreasonwhere"proprietorship beginsandends,"ashedoes
withallotherjournalentries. Hence,theentriescomprisingtheclosingoftheledgerandtheprofitand
lossaccountshouldnotbeinthejournal(hereasons),asthemakingofsuchentriesisonlydonewhenpro-
prietorship isaffected.Theyaremerelythebringingtogethertoaconclusionofnetproprietorship or
netcapital.
116

125. Hefurtherexplainsthattheledgermustalwaysbeinbalaueebecauseofthemathematical ruleof
"equalamountsaddedtoequalamountsmustgiveequaltotals."
Inclosingtheledger,Steviutransfersthebalanceofthevariousaccountsdirecttootheraccountsin
theledgerwithouttheaidofjournalentries,andcallsitoften"bysloto"theDutch,andsometimes"per
solde"theItalianfor"inordertoclose."Heputshisassetsandliabilitiesintothecapitalaccount,and
hisprofitandlossesintheprofitandlossaccount.HeHuallyclosesallaccountsbyclosingtheprofitand
lossaccountintothecapitalaccount.Asthediffei'cucebetweenpresentassetsandliabilitiesornetpro-
prietorshipmustbeequaltothecapitalatthebeginningoftheyear,plusorminusthecurrentprofitsor
losses,theenteringofthepresentassetsandliabilitiesinhiscapitalaccount isanunnecessaryduplica-
tion,exceptitbetoeffectaclosingofallledgeraccountsandusingthecapitalaccountforthispiu-pose
asaclearingaccount.
Steviuexplainsthismethodbysayingthatotherwriters,andespeciallytheDutchwriterBertholomi
deRentergem,haveintherearoftheirledgersa"balanceaccount," (asPietraandYmpyn)intowhich
theyclosetheirledgeraccounts. This,IStevinsays,isbuiltfromajournalentrymadeintheoldjournal.
Thisentryisalsopostedinreverseorderinthenewledgerfromthejournalentryintheoldjournal.This
methodStevindoesnotlike.Hesaysthesewriterswhenopeningtheirfirstjournalandledger,intlie
beginningofanewbusiness,startwithaninventory (seePacioliandothers),butinsubsequentledgers
hesaystheydonotdothis,andtheretheycallitabalanceaccount.Whynotbeconsistent,hepleads,
andopeneachsubsequentjournalandledgerwithaninventory?Hedislikesthebalanceaccountmethod
evidentlysoverymuchthathewantstogetawayfromitasfarashecan,andthushedumpsitallinto
thecapitalaccount,because,headds,"theresultisexactlythesame."
Stevingivesanexhaustivechapteraboutthesettlementofpartnership affairs.HestatesthatifaU
thepartnersareactiveandwereconductingaportionofthebusinessinvariouscitiesontheprincipleof
branchstores,eachpartnershouldkeepaseparatesetofbooks,verymuchthesameasthemethodheex-
plainsforconsignments ortravelingagents,andatheadquarters oratoneofthebranchesthereshould
beajointbookkeeper,whosedutyitistodealintotals,sothateachpartnermayknowwherehestandsin
relationtotheothers. Ifonlyonepartnerisactive,thispartnershouldkeepthebooks.
Helearnedinoneinstance,asverylikelymodernaccoiuitauts willlearnfromtimetotime,thata
goodmerchant,nomatterhowilliterateheisorhowignoranthemaybeaboutbookkeeping, usuallycan
tellveryaccuratelywhethertheaccountant's financialstatementandbookkeeping resultsarecorrect.
Stevinwascalledintoadjusttheaffairsbetweenanumberofpartners,ofalargepartnership. Thefive
activepartnerswei'eresidentsofthecitiesofVenice,Augsburg, Cologne,Antwerp,andLondon,where
theyconductedbranchestablishments ofthefirm.Oneofthesepartnershadnotkeptanybooks.Stevin
wasfinallyinducedbythispartnertovisithimandtowriteupafullsetofbooksofallthetransactions
ofthepartnershipwhichhecouldfind,andthusascertainthefinancialsettlementbetweenthepartners.
Thishedid,afterconsiderablelabor.Theparticularpartnerwhohadkeptnobooks,however,objectedto
thesettlement,becauseitwas£300lessthanhefiguredwascomingtohim.Toprovethis,hestatedthat
theyhadnoassetsorliabilitiesofanykind,havingliquidatedthebusiness ;thereforehesaid :"
IfIde-
ductmydisbursementsfrommyreceipts,andaddtothebalancewhatisduemefromtheothers,thetotal
mustbemyportionoftheprofit.
'
'Steviuagreedwithhimthatthiswasright,andthesetofbookswas
discardedandasettlementmadeupontheargumentofthepartnerwhowasignorantasfarasbookkeep-
ingwasconcerned.FromthisexperienceStevindetermineduponthefollowingrule :whencalledinto
makeapartnershipsettlement,hewoulddemandthreethings: first,theamounteachpartnerhasre-
ceivedmoreincashthanhepaid,orwhathepaidmorethanhereceived ;second,thediffei'encebetween
presentlyexistingaccountsreceivableandaccountspayable,towhichheaddedthecashandmerchandise
onhand;third,whattheagreementwasbetweenthepartnersastodivisionsofprofitsandlosses.He
illustratestheapplicationofthisrulebythefollowingexample
:
Apaidmorethanhereceivedby _ £2,000
Breceivedmorethanhepaidby _ 4,000
Cpaidmorethanhereceivedby 3,000
Thenetassets,orthedifferencebetweenaccountsreceivableandpayable,addedtothe
cashandmerchandiseonhand,amountedto £7,000
Eachpartnerwastoreceiveone-thirdoftheprofitsorstandone-thirdofthelosses.Hethenputsup
thefollowingaccount
:
Partnership Debit. Partnership Credit.
DueA £2,000 DuefromB £4,000
DueC 3,000 Netassets _ 7,000
TotaldueAandC £5,000 £11,000
Netprofit 6,000
Total £11,000
117

126. Asofaboveprofitoue-thirdisduetoeachofthepartners,eachpartner'saccountwouldstandasfollows
:
DueAasperabove £2,000
Plusone-thirdoftheprofits 2,000
£4,000
DueCasperabove _ £3,000
Plusone-thirdoftheprofits „ 2,000
^ 5,000
.',i.J
9,000
DuefromBasperabove £4,000
Lessone-thirdoftheprofits 2,000
2,000
Netassets _ '.Z £7,000
Thoseofuswhohavereadthenumerousinvolvedcourtcasesonpartnership settlement, certainly
mustadmireStevin'singenuity.
Consignmentaccounts,whichPaciolicallstravelingaccounts,aremorethoroughlydescribedinthis
work.Stevinthinksitwrongtodebitconsignmentaccountandcreditmurchaudise,whenthegoodsare
shippedonconsignment,becausethetestwhentomakeanentryis"thebeginningandtheendofpro-
prietorship." Hesaysitwouldbefoolishtodebitaclerkandcreditmerchandisewhenaclerktakes
goodsfromacellarorwarehousetothestoreorfromonepartofthestoretoanother.Andhefeelsthat
consignment isatransactionofasimilarnature,withonlyagreaterdistancebetweentheplacesofstor-
age.Hestatesifwewanttokeeptrackoftheseconsignment transactions, itshouldbebywayofmemo-
randabutnotintheregularbooks.LikePacioli,hewantsthetravelingmanorconsigneetokeepbooks
onthedouble-entrysystemandreportsalesatconvenienttimes,thesereportstobeenteredinaseparate
journalandledgeruntilthereis"abeginningandanendofproprietorship." Itisimportant tonote
thatStevinveryseldomusestheword"capital,"butsubstitutestheword"propi-ietorship" throughout.
Allthewaythrough,Stevinusesasatestforthemakingofajournalentry"thebeginningandend
ofproprietorship." Thus,whengoodsarriveinthewarehouse,thatisthebeginningofproprietorship,
andthataccountisnottouchedagain,asfarasthejournalandledgerareconcerned,untilthegoodshave
leftproprietorshipthroughconsumption. So,ifabarrelofbeerwerereceivedfromthebrewer,itwouldgo
intothewarehouseaccountorthemerchandiseaccount,andthereremainuntilfinallythebutlerononeof
thewarvesselswoulddistribute ittothesailors,whenitwouldbechargedouttothem.Intheinterim,how-
ever,thewarehousehassentittoasmallship,whichbringsittotheocean,thereitistransferredontoa
transport,andprobablyistransferredontheoceantwoorthreetimesfromonesteward'swarehouseonone
shiptoanothersteward'swarehouseonanother,untilitfinallyreachesthewarvesseluponwhichitis
consumed. Whileheurgesthenecessityoffollowingthisbarrelofbeerfromplacetoplace,hestatesthat
thisshouldbedoneonlyinmemorandumaccountsandnotinthegeneralledger.
Equallyinsistentheisonthereissueoftoolsusedintheconstruction offortifications, canalsand
buildings,oronthefarmsandinthefield.Hesaysthattoolsarefirstpurchased,issuedtooneparticular
pieceofworkandthenreturnedtothewarehouseandusedinotherplacesandtransferredfromplaceto
placeuntilfinallywornout.Allofthishefeelsshouldbecarefullyrecordedbutnotinthegeneralledger.
Astothewages,heverycarefullyexplainsthatawagesorpayrollaccountavailsonenothing.The
wageshesaysshouldbecarefullydistributedtoeachdepartmentforwhichtheyareincurred,exactlythe
sameaswehaveseenPietradoes.Hefirstdistributes hiswages,ashedistributes allhissupplies,to
definitedepartments. Thushesayswecanarriveattruecosts.Thismethodheusesalsoincheckingup
thesupplyhouseandthecook,forheinstructsthecook,aswehaveseen,togivearecordofthedaily
mealsservedinordertocheckthepayroU,andhechecksthecookbyinstructingthewarehousemento
figureoutthecostofthemealsperman.Thushesays,ifthecostpermealisconsiderablyhigherthanthe
average,andthepayroUagreeswiththemealsserved,thenthewarehousemanhaseithermadeanerror
orstolensomegoods.
Inthisconnection,heprovidesaperpetualinventory,inwhicheachkindofmerchandise hastwo
columns,oneforthereceiptsor"
ins"andoneforthedisbursements orthe
'
'outs.
'
'Hebalanceseach
columnwhennewgoodsarrive,thencountswhatisleft,andadjustshisbookstotheactualcount.
Giftsofmerchandise,hestates,mustbevalued,forthreereasons :first,inordertobeabletoascer-
tainactualexpensesandconsumptionofmerchandise foreachdepartment ;second,theproprietorshould
knowatalltimesforhowmuchheisobligatedtoothers ;third,inordertoknowexactlytheactualcapital
invested.
Inmunicipalaccounting,heurgestliattheledgerofanyyearbeheldopenuntilatleasttheendof
thenextyear,topreventheavytranscribing,verymuchthesameasisdonenowwithsometaxrolls.
Stevinininstructinghisbookkeepersinthemunicipaldepartment, tellsthemtousethewords
'
'debit
'
'
and
'
'credit
'
'intheexplanationofeachjournalentry,thusmakingitalittleplainertotheuninitiatedin
thetermsofbookkeeping. Fromtheillustrations itmUbenotedthathedoesnotdosoinmercantile
bookkeeping,butonlyusestheterm
'
'debit.
'
'
WhatthewriterhassaidinpraiseofStevinshouldnotbeinterpretedasmeaningthatheconsiders
Stevin'ssystemperfectorevenasperfectaswehavetoday,forinmanyrespects,itisnot.Butthewriter
believesthatStevinhaslefthisunmistakablestamponmodernAmericanmethods. Itwouldbeinterest-
ingtostudytheearliestAmericanfinancialbooksandledgersinordertoestablishthatthroughtheDutch
settlersofNewAmsterdam(nowNewYork)Stevin'sideaswerebroughttoAmerica,ratherthanbywayof
EnglandthroughDafforne,whowewillseefurtheroninthebook,failedtotranslatetotheEnglishlan-
guagemanyofStevin'sideas.
118

127. VERRECHTING
DOme"INE
MettcCONTREROLLE enanderbchouftenvandien.
'tWelck.ts
Verclaringli^anghemeene^egel,ivaerdeuryer-
bdetwardenalleabuj/lenmettefwartcbedenuptefclvefprupende,die-
mentotnochtoeuytgeen%ekencamersvanoouietneenFtfiante
heejtconnenwercn.
WcfendcOeffeninghen dcsDocrluchtichflen HcK)^ftghc-
borenVorftenHeereMAVRITS byGodsgV-
nadePrincevanOrange,&c.Ho:LofF:Mcmorie.
BefthtewndcurSIMONSTEVINvanBrugghc,infl/nlevendesHooghghenielteoHceie
PlUNCtNSuperintendentvandeFinance,&c."Enuytfijnnaghelatea
Hantfchriftenbyeeoghefteltdeur (ijnSoonKENDRICK
STEVINAmbachtsheercvan AlphcQ,
TOTLETDEN,
TcrDruckcryovanIVSTVSLIVIVS,
In'ttfpeedelaerdesVredes.
119

128. BOVCKHOVDING.
45
STAETVANMYDIERICK
RoofegemaecktopdenlaetfienDecember1600.
Staetofcapitaeldebet.
ItrAernoHtlacobsfol.14. 51.8.0.
Rejldebethiergfjieltbyjlote
yandefen
-- -}I40.9.1.
tS'cmmc5191,17,2.
Staetotcapitaelcredit.
Fermtenjol.y •
17J
•gj'5one.tot
7(1'tfont,comt • •60.If.2
Perpe^erfol.7-120fg'tol40S
'tpont,(omt.... 20.0.0.
"PerOtiMerdcSrrartefol.^
.-513.12.0.
"PerAdriaendeWinterfol.n-150.6.0,
VerPietcrdeWittefol.ll. -448.o.O.
FerlacqueideSomerfol.li . 54.18.6.
Percajfcfol.19- - -1944.7.5,
J>mme3191.17.i
.
SulcxdatDebiteurs,metgereetgeltenvvaren,hier
meetbedragendanCrediteursvoorvveerdedes
capitaelsopdenlactftcnvanDecember i<Soo-
3140.9.1.
MaeropdenlaetftenDecemberI599>of'tbegin
des)aersi6oodatccnrelvcis, vvashetcapitael
van2,1
$?oC
5J5
8i^,wanttreckendedendebet
514o^6J5,vandencredit1667oC9jj
8§,
blijft
alsvooren
. .
- - -
VVelckegetrockenvande3140C529jji§,blijft
voor'tgenedatteropditjaerverovertisjendein
defcftaetgcfochtvvicrt _ - -
2153.3.8.
987.5.5.
STAETPROEF.
MAer
omnuteficnofhetbovefchrevenvaftgaetjfodient
dittoteenproef:Ickvcrgaeraldereftenderpoftenvan
vermecrderendeofverminderende capitael,'tvvelckfyndere-
ftenderpoftendieindevoorgaendeftaetmakingnietenqua-
men>
120

129. 4tf VANDECOOPMANS
'
men,alstottcvvcfentlickcftactnictbchoorendc: Endevvant
defelvefynpaityenvanvvinflen.verlicsvoorgcvallcnindcntijt
deferbouckliouding, datsfcdertolanuarius1600,vvtlckeby
aldienmcnhetbouck flotc(gclijckintvolgcndc10HooftRick
gedaeiifalvvordcn joprekcningvanvvinHenvcdiesfouden
coalmen,foomeetdandaerdeuroockvcrovcringbevon(fcn
vvordenvan987c^5j55§'Totdcfencindcbeginickhet
Schultbouckteoverloopcnvanvoorcnacn,cndcontmoctmy
eerftdcpoftedcrnagelcnfol.
5,vvaeropickwindbcvindevan
75.4.7.dacrnaontmoctcnmynotencnandergocdcn, alshicr
jiavoJglit.Dochftaetnochtcgedcnckcn, datoverfchfctende
goedcnliicrbcielcentvvordentenfelvcnprijfcalsindenvoor-
gacndenftact,omdatvvynemcnhaervvccrdefootevvcfen,
vvildcmenind'eenendandernemcndenprijsveranderttezijn,
menfoudetcockmeusjendoen
VVinftcnverliesdebet.
Percncoflenyancoomfchapfol.16-57.7.0.
FeroiKoflenyandenhuyfe fol.16-107.lo.o.
Somme164.17.0.
Rf/?ereJitnhpreu^ijtoyerttnccm-
mendemetlevoorgatnde rekt-
ntnghitrgefldtper[olde - -987.5.5.
Somme1152.2.$.
VVinftenverliescredit.
Perve'mjlopnagelenfol. 5
- .
75.4.7.
Verrymjlopnotmfol.y -.109.7.2.
Veryyinfiopftpirfol.y • .ig.ip.o.
Vcryywjlopgimherfol.g. - -
41,8,4,
Ptrreken'mgyunyyiiijienyerltes
(yyicnspojlttegedent.kenhdat
tenttjdedeferyyerckingindebet
allecnehckhaddetrveeparlyen,te
yyeteny.jn100^J^eni2-J^
maermcreditdriepatt'ienah
4
p£J
.4.en1$(^met 1000
^)
fol.19 - - - 907.
J.4.
Sommc 1
1
52.2.5.
Nudanlietprouffijtdcurdefewyfepockbcvondcnfijnde
van987oC
5,g5§,alstevoorcnintHotdesftaets,foomach
dittotpro.cfdcsvvercxvcrftrccken.
Merckt
121

130. Imuh.
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limHa.
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«5
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yirfcheydnpurtUndtbnptrCapilaelTiHmyDleriel^Hft/i
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dturrlitiicl^tinyconsemdiii ila-
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haorendtnAVolgendepartitnyan^elt ,yfaytnenfchittden:
Endi
mfl
:
CttJJeh^eredengelde - - - •
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n°
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»o9-,9-79<rfri.^.-v
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- --
lacqHisdeStmervtrfihynmdi 1Mmtim160j. --
Scmme
CapnaelVanmyDieric\R^ofedtbitpirynfclieydtnCrtdileu-
reit,andevveUl^eil^myltnyonrnoemdidapdeardeyur-
fchreyenflaelmaliing bevinde/chuldichlefyneitUytljht:
IcosKcirctrirfihynendedi>tyMaerti16O3.
DaYitUpehyirfchynindeden1Mrye1600, -
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Semme
D3
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cA
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M4
94
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100
350
3^0
190
&
266
7
150
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122

131. <6
!
2«
is
FfJiMK.
Vebrua.
Mitirce,
6
•5
|6
!
i8
Mat/tt.
Maeite,
31
Mtitrtt
^pril.
6
5
M
9
3°
3°
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^fril.
Mrye.
'theri6oq,
CxetjfmVMecim/ihupdrbilfercuj/i,(teiiri<liitllitili/t
m.renir/nFebruarimhlijc ndrby'Immuriitdrimriitn
Oncoftmyamlmhuyfcdebitfircafe,JeiirbcUeltindefi
maentfanFebruttiitublijct^endeby'tmemarUely.tndten
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,dcurdalicl^anhemyir-
cocbtbebIbalentebetalenbinnen,2maendeh,'pyezende
177iMc2.fi.
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3bAltnItbeulenbinnen
3maenden,vre^ende
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maentvanMaertiblijct^endeby'imemoriaelvandim
OncoflenVandebuyfid;betpcrcaffe,deurbetaeltindejemaent
VanMaerteblijcl^endeby*tmemoriaelvandim
-
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ItnanlofepSandertvvi^ende
I77itati.i.
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lenvanLnuyilanfi,vvegende
;^" I4
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15
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'800tar6.o.
OncoflenVancoomfibap debetpercaffe,deurbetaeltindefe
maent^prttbltjcl^indebyVmemoriaelvandten. r-
Onciflenvandenbuyfedebetpercaffi,deurbetaeltin
defi
maentvan^prilblijc\indeby'tmemoriaelYandien
-
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geaffnneerthebvanOmaer t'ontfangeninVoUebetalinjb
yandiesicl[DaVitfihaldichhen,vervaUende den1Maer-
te1600,eninminderingyandietmyOmaerfibnldich if,
vetvaliende6Tvleye1600
ftrfihey-
&
04 i3
95
114
99
_3
6
150
123

133. s
I
i6
J
8
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•3
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H
M
M
s
«
18

134. i8
i3
-4

135. 8
1
1
i«
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'tlaeri(5oo.
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hyfearmyortlfaetiherftcpyrijfelI'.tnrldtfihtii ^Idii.itn
,
lUjc-
l^rndet/y/ynfchryvcn....
DrctM-
OncojitAy.mcoomfcU-ipddtiperc^ffe.4nirirueirindtmamdtnv.ti
luliM,^-luiujlut,Septtmier,Ocliber,Kovemifr ,inDccenili(r,
hlijchcfidebyV7ncnii1ri.nlyandicn
- -
31\Dcittn. '-'lU'.pcn'Y.vidciiliiiyfedtb!! ftrC'ifftdcurbtlddtindeinKtndmVAn
luhin,.A!,"ujhi<,S<flcnibtrfiiiobcr,'N.(iy>cmLcr,m Dcccmbtr,lli]C-
t^cndiby'lrnemorijclyondicn
- -
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loudenna'tgemeciigebtuyckvetdceltbehooren te
vvotdcntencindcvanydcrmacnt
,Tooveelopcickc
viel :Dochalfootvergetcnwas,ickenhcbtnietyvil-
Icnvcrfchryvcn ,tcnicerdattctindcdaetfomvvylen
footocgaet.
C^
|8<
3
80
127

136. Umuu
Deam,
Dtetv-
Decern-
Decern.
Decern.
Decern.
Decern,
Gapitaeldebet. 'tlaer1600,
Peryerfcheyienptrtiia
- - • -
Permienftl.),ileitrdulcetindr(f,ieimal{iiigbnonilen\i]n17j-Q^
fcnciifiuyteeTiiicbjtl'IponliCumt - - -
Perpeperfil.7.Jeuri*llerindejtaelmal^mf^bennien :;^>i 110^
nuyveeidich^oR'tfiHttComt
PerOmteydeSfvnteyerfchynendedtn^Seficmlmen 1^Decem-
ber1600fil.
t)
- -
Per^druendeyvinlervetfit>yntndeden8lutiiM1
600
fol.1
1
PerPieterdefViiteterfchjinendeden
^luliiu1600
fit,11
PerlacqueideSimeryerjiliynendeden7^Uye 16oo/«/.
1
j
Perctfeftl.19 -
"...
cA

137. Imm.
Dttem.
Uettm
Capitaclcredit. 'tlaer1600.
Perm/chiydntpartifit
PerRunoutUei'jiyeifthynendedenjoImiiuiCoofat,i
^
PerrtfynmgVMninHiHTmlittfil. iS
Simmt
5'
}70(i

138. Alia.-
Peperdebtt. tlaeii6oo.
PefercnjiiUelfil.
j
I'ermtlinfil.7
SoMmi
Decern.Vf/rrt^eningtunffinttenytrlieifil. 19,i<Vx«/?f''6y
JhteTei<niltf(in,tfeJendefrDiifftjlDffii'er
-
SonirKe
7^S
1io

139. 4

140. lunun.
PieterdeVVitte debit. 'tIaeri6oo.
VetcapitntlTtrfcliynndtJoInnius1
600fit.
3
•
PerTfttfchcydeti(alienyerfihjrtendt 5/«//w 1609
Stmmi

141. IhUui.
IhUm.
Dic9»
PictcrdeVVictc credit. 'tiacr1600.
Ptr(^ffeci>IVtrfihtnen 10fmiiui6oofol.
.t
Pncajfttptycrfehtmn s
Iktiuiifioo/«/.
4
Pirtupilaflf'l- ihifr^tjltltbyjltteynn ite/in
Sommi
Simme
360

142. i6
ftiru
MdtTtt
Miyt.
Sunitid.
Dnnt.
OncoflfnvanCoomfchapdejbct.'tlacr1600.
I'rrea/fefol,
}
Ptrc/fifol. J
Ptrctffeftl.
5
Frrmffefct,
5
Pirenffefil. f
PnC4ffefcl. I9
Stnme
oC

143. Dtctm
OncoftenvanCocfrnfchapcredir. "tlajr1600.
Prrrr(iiiiig>4i»tyinfinyntinfal. 18hutgijlrllbjftttifandt
f,n
- -
&
17
9
3'

144. DOMErNE.
ReftantenvanHoghcnhuyfe.
»A
1612
1613
1615
i6n
800-0-0
500-0-0
370-0-p
150-0-0
70-0-0
161:
poo-0-0
0-0-0
I

145. RICHARDDAFFORNEPARTLYREPRODUCED
IntheLibraryofCongressandintheLibraryofHarvardCollege,wefindabookbyGerardMalynes,
printedinLondonin1656,underthetitleof"Consuetudo VelLexMercatoira," or"TheAncientLaw
Merchant." Thisbookisavoluminouswork,writtenintheEnglishlanguage,one-halfofwhichcontains
adigestofthelawmerchantasthenexisting ;theotherhalfofthevolume isoccupiedbyareprintof
RichardDafforne'sbookonbookkeeping,"TheMerchants'Mirrour." Italsocontainsanintroduction
tomerchants 'accounts,byJohnCollins,togetherwithatreatisebyAbrahamLisetofGhent,called
'
'Am-
phithalamiortheAccomptantsCloset."
WehaveseenthatRichardDaffornewasreallythefirstwriterintheEnglishlanguagewhosework
wentthroughseveraleditionsandthereforemaybeconsideredashavingbeenmorepopularthanthatof
hispredecessorsYmpyu,Oldcastle,Mellis,andPeele.DafforneresidedforagoodmanyyearsinHolland,
whereheobtainedhisknowledgeofbookkeeping.HewasateacherintheDutchandEnglishlanguages,
andinbookkeeping. Partofhistreatisecalled
'
'TheMerchants 'Mirrour
'
'waswritteninAmsterdambe-
forehemovedtoLondon.Theprefacetohisbookindicateshisfamiliaritywiththethenexistingbookson
bookkeeping, ashenamesquiteanumber.Mostoftheauthorsofthesebookshediscredits,butheseems
tothinkhighlyofSimonStevin,whomhecopiedinanumberofinstances. SimonStevin,however,was
agreatscholar,whereasDafforneevidentlywasbutashallowteacher,forwhilehequotesfreelyfrom
Stevinonthemostimportantpoints,yetheomitstobringhometheforceofthequestionasStevindoes.
ThusthroughDafforne'sfaultytransfer ofthebookkeeping ideasoftheDutchauthorsintothe
Englishlanguage,wehavelosttheveryessenceandfoundation ofthetheoryofbookkeeping.Any
onereadingStevinfirstandthenDafforne,willhavenotroubleinarrivingatthisconclusion. Itis
likethereadingofaletterfromanexperiencedoldman,followedbythetreatmentofthesamesubject
byahighschoolstudent.
InthefollowingpageswearegivingapartialreproductionofDafforne'sbook,consistingofthetitle
page,theintroduction,abouthalfofthetext,andafewpagesofthejournalandledger,togetherwiththe
entiretrialbalance.Weareomittingpartofthetext,becauseitissimplyarepetitionofpreviouslymen-
tionedmethods,appliedtonumerousmercantiletransactions. Allofthetextinwhichheattemptstogive
sometheoryorexplanations,wehavereproduced. ItwillatoncebeseenthatDaffornewasgreatatex-
plainingHOWathingshouldbedone,butincapableofexpressingclearlywhyathingshouldbedone.
Hehasattemptedthisinoneortwoplaces,andfailedsignally.Wearereproducingsomuchofhisbook,
because,asexplainedbefore,webelievethatinPacioli,Manzoni,Ympyn,Stevin,andDaffornewehave
thegradualstepsofthetransferofbookkeepingknowledge,withinalittleoveronehundredyears,from
theItalianthroughtheDutchintotheEnglish ;unless,indeed,theDutchtransferredtheirknowledgeto
America,directthroughthesettlersofNewAmsterdam(nowNewYork).
AtthetimeofDafforne'swriting,Englislimercantilecustomsandbookkeeping methodscertainly
wereinabadway,judgingbyDafforne'sownwordsandcomplaints. Thereisanentireabsenceinthe
journalandledgerofreferencestotheDeity,althoughthetextisfullofthem.Dafforneevenquotesin
thelanguageinwhichitwaswrittenaDutchdissertationon"God,theGiverofallgood,allknowl-
edge,andallwisdom."
HeexplainsthatamerchantinAmsterdamusesacashbookandabankbook,becausehisledgerand
journalarealwaysbehindinposting,otherwise"theledgermightcausetheavoidanceoftheuseofthese
twobooks."Heurgestheuseofapettyexpensebook,thetotalsofwhicharepostedonceamonthor
quarterly,inordertoavoidnumeroussmallentries. $^.^4,-..,..>..
-
WliatPaciolicallsthememorandumbookhecallsawastebook,becausehesayseverything istrans-
ferredfromitintothejournal,andwhenthisisdoneitisuselesstopreserve it.InHollandtheydonot
preserve it.Theinventoryandthetrialbalancearenotwritteninthiswastebook,becausetheycontain
informationofaprivatenature. Blottingorerasuresinthejournalareimproper.Heputshisslanting
lines(//)intheleft-handmarginofthewastebook,inordertoindicatethetransfertoanotherbook,and
heevidentlyprefersthismethodtothediagonallinedrawnthroughtheentries,because,ashesays,"itob-
scuresthewritingandthefigures." Checkingofthejournalandledgerhecalls"re-pointing," using
thetranslationoftheoldItalianexpressionof"lancing" or"pointing" asexplainedelsewhereunder
Pacioli. Dafforne,however,doesnotsayhowhedoesit.
137

146. Hedoesnotusetheexpressions"debit"or"credit"throughout hisbooks,butnamesthemdebitor
andcreditor.Hechargestheoneanddischargestheother.Heinsiststhatnothingcanbeenteredinthe
ledgerunlessitisfirstenteredinthejournal. Thisincludestheforwardingofbalancesfromafullpage
toanewpagealsotheclosingentriesforprofitorloss,andthebalancingoftheaccounts.
Inventoryhesaysconsistsofstockorestateorcapitaloftheowner,whichconsistsof
'
'increasingim-
properly"and"decreasingimproperly"ofthestockorestate.Heattemptstoexplainwhattheword
"improperly"meansbyquotingfromStevin,buthemissedentirelywhatSteviumeant,asheappliesit
wrongly.
Heusestheword"stock"whereverStevinusestheword"capital."Astheword"stock"comesevi-
dentlyfromstickorstem,itreallyhasthesameoriginastheword
'
'capital,
'
'asthroughallthedefini-
tionsandderivationsoftheword"stock"thethoughtof"main"or"principal"seemstoappear.From
thiswemightstatethatcapitalstockisreallytautology,forthetwowordsmeanthesamething.
Inexplainingthefii'stjournalentry"cashdebitortostock,"hepersonifiesthecashaccount,because
it"represents (tome)aman."Heindicatesthemeaningofdebitorbystatingthatbyreasonofgiving
thecashtotheman,heisobligedto"renderitback,"or,aswehaveseeninItalian,"shallgive."He
indicatesthemeaningofcreditorbymentioningthewords"uponconfidence," or,aswehaveseeninItal-
ian"trusting." InspiteofhisquotingsofreelyfromStevin,andcomingsoneartowhatStevinsays,
Daffornehasfailedentirelytotransfertoposteritytheideaoftherealreasonforadoubleentryortwo
debitsandtwocredits.Thenearesthecomestoitisbystatingthatcash,merchandise,andallwepossess
arebut"membersofthatwholebody{stocke),thereforebythejointmeetingofallthosemembersthe
body(stocke) ismadecompleat." Thusitgoesthroughtheentirebook,alwayshowbutneverwhy,the
veryoppositeofStevin.
Merchandise oflargesizeandquantities isalwayskeptiuaseparateaccount,designatedbythename
ofthemerchandise itdealsin. If,however,themerchandiseconsistsofsmallarticlesofwhichbutafew
arehandled,theaccountiscalledageneralmerchandise account.Hecreditsalegacyinoneplaceto
stockorcapitalaccount,andinseveralotherplacesdirecttotheprofitandlossaccount. Debitorshecalls
those"ofwhomwearetohave,"orinotherwords,aswrittenintheItalian,thosewho"shallgive."
CreditorshecaUs
"
debt-demanders
"andasfarasinventoryitemsareconcerned,hesaysthatstockeis
debitortothesedebt-demanders.
Hesaysthatthroughapersonalorprivateledgeryoucankeepasecretofaperson'spresentworth
orestate.Heisveryemphaticindenouncingtheuseofthecashaccountforthispurpose,ashestates
threeDutchmendointheirtreatise,namely,Waninglien,Buiugha,andCarpenter. Hereheagainbarely
rubselbowswithStevin'sideasofproprietorship. HeflaysthethreeDutchmenforpromulgatingideas
as"bookdeforming" insteadof"bookreforming,"andhecallstheirideas"indefendable errour,"
"forgedimagineries,""forrainbreddefects."Hefurthersays:"Ifwewereasexactdiscussorsaswe
areimitators,wehadnotbeensobesottedastoentertainthoseforraindefects,havingbetterathome."It
shouldbenotedthatelsewherehepraisesStevin,andnowheredoesheflayhimliketheabovethreeDutch-
men,yethadDaffornebeenlessofadiscusserandmoreofanimitator,hewouldhavepresentedStevin's
exacttheorieswithoutfault,andthuspreservedthemforusintheEnglishlanguage asStevindidfor
hisDutchcountrymen.
Hegives15ruleseachforjournalizingdebitsandcredits,buthepersonifieseverything todebitor
andcreditor. Intheledgerheusesadoublecolumn,oneformoney,theotherforquantitiesandweights.
Cashdisco\mtshedeductsfromcostofmerchandise,whereasrebatesarecreditedtoprofitandloss.Thushe
disagrees,ashesays,withPasschierGoossens,JohannesBuingha,J.Carpenter,andHenryWaninghen.
Dafforne'succeededherethroughhisfaultyreasoning,inmixingupthingstosuchanextentthatmany
mindstodayarestillmixeduponthissubject.WaninghenandCarpenterwanttocarrytradesofmer-
chandisethroughthecashaccount. Rightlyheobjectstothis,forcashhesaysshouldhavenoentryun-
lessmoneyisreallypaidorreceived.
Hedoesnotcallinhistextthedifferencebetweenthedebitsandthecredits"thebalance,"aswedo
today.Hesaysdeductthelesserfromthegreater,andmakeajournalentryfor"thedifference." Inhis
ledgeraccounts,however,hedoesnotcallit,liketheItaliansdo,"difference"buthecaUsit"balanceto
close."Heusestheword"equalizing" -wherewenowuse"balancing,"thesameaswetranslatedPaci-
oli's'word"soldo"into"equalizing"or"closing." Theclosingoftheledgerhecalls"ballaucingofthe
leager,"or
"
leagers-conclusion."LikeStevinheclaimsthattheledgerneedstobebalancedwhennew
booksarestarted,orwhenthemerchantceasestotradeortheownerdies.Balancing,hesays,consistsof
threethings,theequalizingofaUopenaccounts,theenteringofthedifferenceandtransferring ofthe
sametothenewaccoiuitortothebalanceaccount.Hedoesnotliketheword"balancing,"andprefers
tocallit"estatereckoning,"thesameasStevindoes,andinthisconnectionhereferstoStevinbysaying
thatStevincarrieshisclosingbalancesintohisopeningcapitalaccount,whichhecallscontradictory,and
merelyamistakeonStevin'spart.Thebalancing isdividedintoatrialbalanceandatruebalance;the
trialbalanceconsistsofdebitsandcreditsoftheopenledgeraccountsbeforeprofitandlossentriesare
made.HepublishedinAmsterdama
"
three-fold-mony-ballauce,"whichwehavereproducedfurtheron.
Thetruebalancehesaysconsistsofthe"remainders" oftheledgeraccountsafterprofitandlossentries
havebeenmade.
Itshouldbenotedthathesays"remainders," asdoesPacioli,andnot"balances," asweuse
today.Theremainders oftheaccountsheputsinthetruebalanceonthesamesideastheyarein
138

147. theledger ;uamely ifcashisdebitintheledgeritshouldbedebitiuthetruebalance,forhesays,balance
isadebitorintlieplaceofcash.Hegivesadetailedexplanationofhowtocloseaccountskeptinforeign
money,andtotakecareoftheprofitorlossintheexchangeattlietimeofclosing. Wliileheexhibitsa
balanceaccountandmakesjournalentriesinordertocloseallaccountsinthisbalanceaccount,heisvery
particularinexplainingthatsuchapi'ocedure isnotneededifyoudesiretousethebalancebookinthe
natureofprivateinformation. Inthatcase,hesays,postdirectfromtheoldaccountintheoldledgerto
thenewaccountinthenewledger.
Theillustrationsgivenofthejournalwillshowthatallentriesarenumbered,thatheuses"debitor
to"insteadof"debitper,"asStevinuses.Neitherdoesheusetheslantinglines(//)socustomaryin
theItalianmetliod,foradivisionbetweenthedebitandthecredit,althoughbutonecolumnisgiven.The
ledgerpagereferencesiuthejournalarewrittenintheformofafraction,asPaciolimentions. Ledger
headings,whilenotasusedatthisday,aremorepronouncedthantheItalianmethod,andarealmost
identicaltoStevin'sideas.
Intheledgeraccountsherewithreproduced,"to"isusedonthedebitsideand"by"onthecredit.
Thejournalpageisalsogivenaswellastheledgerfoliooftherelativeentryintheotherpartofthe
ledger.Bothsidesoftheledgerbearthesamenumberofthepage,andtheyarecalledfolio.Hedoes
notusetheword"sundries," inthejournalnorintheledger,nordoesheuseasub-totalinbalancinghis
ledgeraccounts,asStevindoes,butusesinfrontofthetotaltheItalianword"summe."Nowhereinhis
workdoesheusetheterm"assetsandliabilities."Heusesdotsinsteadofcheckmarks.
139

148. THE
MERCHANTS
MIRROUR.
DIRECTIONS
Forthepcrfea:OrderingandKeepingofhis
ACCOUNTS.
FramedbywayofDe.bitorandCreditor, afterthe
ffotermed)
ItalianManner :Containiog 250^areQueftions,
WiththeirAnfwers,informeofaDialogue.
ASiIKE»f/S£
AWASTE-BOOK, wichacompleteJournalandLeager,thereuntoappertaining;
UntothewhichIhaveannexedtwootherivafie-Bookshi&xt:dkoftheStudiom:andatthe
endofeachisentredthebriefContentsoftheLeagersKccomiSyarifuigfromthence.
AHVALSO
AMONETH-BOOK,veryrequificeforMerchants ,andcommodious forallother
^C/£X,C£-Z'0r£"2<^"? ofthisFamousArt.
theThirdEdition^CorrcciedandAmended.
CompUedbyRichardDAFFORNBof Nerthampton, Accsuntant,and
Teacherofthefame,afteranExquifiteMethod,inthe
EnglifhandDutchLanguage,
J.
VahdenV.
g>ooeenigl)litljt^tJerifpttH)^mn,
sppntoetfebcracht,offfotctofonteeren,
Dtemattbttbccter,§>ooftpfean:
'jafttbb©Motelufthoc!)meettcCeeten.
H.L.S-.
iDoajeeltiemantDoojIjctileejtn
;
i^ietgoetban[?niJDoiDcltocc^en.
iieercnoe,Icett itfe.
TheContentsareinmediatelj prefixedbeforetheBook.
LONDON,
Printedbyit.//,and^.G.forNicholasBourn,attheSouth-entrance ofthe
RoyallExchange,1660.
140

149. TOTHE
RIGHTHONOURABLE
RIGHTWORSHIPFULL
GOVERNOURS,
FELLo'wSHIf
'MerchantsAdventurersofEngland.
EnglijbMerchantsfortheDi[cover)ofNcmTrades.
MerchantsofEafi-land.
OF"?
Merchants
ofEngland ,tradingintotheLevantSeat,
MerchantsofLondon,tradingintotheEajl-Indies.
Adventurersof
theCiiyofLondon
,
for a.TradeufontheCoafisandIn-lands
ofdiverspartsofAmerica.
RichardDAFFORNEfo wiiliethyourUndevftandings
Illuminatron ,inyoiirTerreftriallTalentsAdminiftration
,that
withcomfortyoumayhearthejoyfallSentenceofyourtwicecom-
mendedfervice,Ai^t.25.Ver.-ii,23.
Welldonethougood
,andfaithful!fervanttrue.
Thouhaflbeenfaithfulloverthingsafew^
liemaketheeRuleroverntanjthings^
Foffeffethejoyof
thyLord,KingofKings,
RightHonourable, ^c.
^^FcermanyyeersrefidenceatAmfterdam inHolland, I(upon
~
theoftenImportunate LettersoffomeMerchants,myvery
goodFriends}refolvedtopitchtheTentofmyabodeinLon-
don^whichbeingeflfededinAnm1630.1then(afterfomereft^
fecmycourfeuntofeverall StationersShops
^theregazinga-
i>outmefasonerevivingfromaTrance)toviewwhattheLaboriousArtift
hadadedanddivulgedmPrint(asotherNations)fortheAlTiftanceofMer-
chandizing,wherewith(BlessedbetheGreatALL;thisRenowned
CityisthroughlyEnterlaced,andAdorned.
EatasaShipperanchoringuponanunknownIle,prefentiypcrceiveththoft
ai
f
aits
141

150. TheEpijlleDedicatory,
partsnottobeinhabited,bytheTSlon-tillagc, orthelike
jevenfo(contraryto
myexpectation)!perceivingthenumberofWriterstobefew,tearedchatlove
tochisArtwashkewifefmalhSEEiNGTHATGooD AcceptanceEngen-
DERETHGoCDPerformance.ThetruthofthisleandVfrrewithma-
nyInftancesinfevierallAuthors; asVorefiam,JohnJmpen
^
Cioot
^Menn-
her
^S<f\mne
^
NicholiUfieterfon,(^ntergem
^MartenVandenJ^jck
^Hoor-
beck,<vmTKimme^Wencelms^Coutenels^SimonSten^ IohnlVillemJ(in,y^amnghen^
TaJJdk, Coojjen^anddiversothers ,whofeBooksareextant.Bywhich
mayevidentlybeconje<5tured,thatinthofetimes,andintheirpartswherethey
thenpublifhedtheirWorks,werefoundmanySdwce-/oVmthataffesStedthis
Art;bywhofeallurementsthofeworthyWriterswereinducedtofeePento
Paper,endeavouringwiththeirbcftgiftstofatisfiethedefireoftholeArt-defi-
rers.
TheMerchantsoftheLow-countries(ofwhomIcanfpeakinpart)bein^
generallyenamouredofthisArt;becaufeof itsUcility,aliure theirTeachersto
induftry,byapplaudingtheirVigilancy;encouragingthem(withthepre-
fenceoftheirChildrenandServantsintheSchoolesj dailytopublifhnew
Queflions ;orarleafttorevivetheprofitableLaboursofancientAuthors,
makingihemfitforouttimes.
Butwe,alas,thefmalllove(pardonmytruthfpeaking)thatagreatpartof
ourMerchantsbeartothisScience,daunteththePenofInduftryinourTea-
chers,making thenfiwithafufpe<5tivefeartodoubt(&;notaltogetherground-
lefs)thattheprofitwillnotcountervailtheirpains;bywhichmeansTeachers^
MerchantsyandthereforeTouth^arelinkedinA,tsenemiesJ}?ackles.
WhatmaybethecaufeofthisIgnorance ?AreourTeachers(binfufficient ?
OrhathdafueTSlature^withherG^ji^jkeorinduftrybeflowedherBenevo-
lencemorefparinglyuponourNationthanuponothers?Thelaftcannotbe;
forwecanlearnitexquifitlyabroadofotherNations(asmultitudescanwit-
nefsjwbynotathome?!anrwcr,asbefore,becau(e athome(forwantofloveto
thisArt)manyMerchantsarcinfufficient^refidentsxotheirServants,whoby
iheirDocumentscanbebutEijtiiyahitImitators.Wantoflovetothis-^rt^is
thecaufewhyJames^eele,andothersthathavewritteninEnglifhuponthis
fubjed:,areknownebyl^ameonely^andnotbyImitation.Yea,eventheme-
moryoftheirThamesdkth,beingthereisnocaufetocommittheirpainfull
Labourstothe^ame-reVtying Prefs.HowthenfhallourYouthattainunto
thisArt,butbyfrequentingabroadamongftothernations ?And
TheybeingthenatQ^ome^
Willdoasthereisdone.
ThisftupiditycannotbeimputedtoourTeachers :forifathome(asother
peopledo)wedidbyLove'allure,andwith(2^m(j;-^induceeachothertoArc
byacompetentDifpenfationamongftourfelves,ofthatmoneywhichwc
beftowabroadamongftAliens^thenwouldourTeachersbevigilant,cuvLand
adornedwiththisKnowledge,andourYouthfhouldnotneedtobetranfl
portedintootherCountriesfory^rtsdocuments.
AgainfttheforefaidIgnorance Ihaveemboldened ?ny
felftoprepare
this
142

151. 'TheEpijlleIDedicatorj.
this/<«f»^o^^beingbylv(^fK/Tobligedtoofferuppareofxh^mdomiMteo^
rayknowledguntotheU>dofmy'Breathsfrjldramng.
Diversarethehumourso^menthereforethereisbutfmallProbability
to
pleafeallryeLtocndeavouc
agenerallfatisfaaxon isuiiblameable.
Myintentisnottoprefcribethefe^mciflesasfullyfufftcienc,though
fortheirK^mkrapproveable:fortimeatprefentdothnotyieldpermiffionto
impartwhatmyAffeftionsdcfircd,andWilldeterminedtodivulge
,
butthel^
atcAHmments onely,toftirupthebetterexi>srienecdtoamendwhaeI(through
wantofArt)havenotfocompleatlyhandledasIdefire,anditdererves,bemg
anArtCfaithSimonSteVminhisPrincelyBook-keeping,
/"o/.7,0*
12.)worthyto
benumbredamongft theLJ^^r4//Sciences.But1alreadyhearObjedionsa-
painfttheFirft&SecondWaftebooks ;thatthereinareexercifedfomeaccounts,
whicharealtogetherneedlefieheremEngknd :asisthe^Mk-AccountAgrantit
tobeanAccountnotufefullinourKingdomejbut thattheknowledgethereof
(liouldbeun-ufefuUtothiiArts-Learners, 1deny.TrueitisthatbyS^rrtwe
areCircumfevenced r.ithtkOcean
,buttheGreat-Allhathnotfoftnalylimitedus
withinthe)Oundsthereof,thatweareabridgedfromtheConVerfmonandEn-
tcrcourkofMeichandi^n^withforrainNations ,aswellbytheirfrequentingot
ourMersasweCommercingwiththemintheBodyoftheirCoupes.And
whenourMerchants(OldorYoung)tradewiththemintheirplaces,w«y?noi
thyteamt9kacquaintedmthtkir^hrafesufedamongthemconcerningCommerce?
OfwhichBanqkisnoneoftheIcaftinfeverallplacesofEurope,Untowhich
ourEnglifliMerchantshav/etheitConcourfe.Andmufttheadvertifementot
theCo4thereof(beforewecometotheA'^uallexercife)beamnvjb^mdac-
countedasaneedleffe
thtn^inmyBook?<l^ghtWorstsbehodtheRancorof
blackEnvytharendeavourethtohaveusignorantofMartiallaffairs,untillwe
cometothepointofBattaiLThelikeObjeaionisallcagedagainftmyemring
ofanAccountofTim?and%eady.mony.Whatifwehavethemnotinulea-
mongftourfelves?LetuscaftupouraccountswithotherK^mmand(toour
coft)theywillteachushowtoframeanaccountoitimemd^eadymony ->four
FaaororCorrefbondentbeindisburfeforusanyquantityotmony
,
andtor
Timeworththereckoning,asexperiencehathfliewedmeinmanypaffiges.
Andwhatthen?Muftnotwefecktheaidoffomeexperiencedtoaffiftus
?be-
caufeweregardednotthedocumentsofthem(athome)thatendeavouredto
informusoftheMannerandMatter.WhatAmercementdothnotthismfdm-mr-
thywilful!Ignorancemerit?
zr 1 n
A2ain,thekeepingofanaccountofTimeandReady-mony (faythey)may
beavoidedwithandccountCurrant,-oraGeneralacctiunt,uponwhlchlsentred
m^tzasBought^Sold^Dra^n^Hermedfiiyenpt
TakenuponDeporito,andthelike:
ofwhichmannerIamnowayignorant.ButletuscometotheP€riod,orFoot
ofthatGeneralaccount^^ndtheretheConcludonQieweth.that IamDEBitor
toanother,ortheContrary :howfhall1t^nd(l(eady-moneythatatprclentIamto
rem^eov^ayuponthataccount?
143

152. OPINIONOFBOOK-KEEPINGS
ANTIj^UIT7.
GoodFriendofmine(taithSimonSteVen)beingexerci-
fedintheOldHiflor'm^didfeethisformeofBook-keep
ing(imeaninghisownejbefotcitwasperfeftedinthe
l^refle ;hewasofjudgement thatithadnotbeenufed
inifd/y,
.butabouttwohundredyears :Butthatthefame,
oroneinmanypartsverylikethis,,wasu(edinthetime
ofJuluisCafar,andinRomelongbefore ,•andthatfomeReliquesof
Ancienttimearecometothe.handsofthem,thatoflatehavereceived
itagain.
WhichOpinion 1thoughtnottobeun-befecming, therather,becaufe
itfeemethftrange,thatfoexquifiteaDeep-diving-ScienceQiouldbeinvent-
edfolately:Butbeitasitwill,IwillentertheOpinionofmyabovc-
faidFriend,whofaith,that
InplaceoftheproperwordsrtowufedintheItalian-book-keeping, foi
merlyotherofthelikefignificationwereufed:asthefe,
fDebt-book,Great-book,orLeager-
I
DebitorandCreditor
For <;ParcellstranfportedintotheLeager
I
Parcellsnottranfported
-TabuUaccept^expenjt.
-Accepumo"expenfum.
Nominatra/ijlatainTaiuLut
Nomeniaccnst
-Adversaria.iWafte-book, orperhapsJournall—
Allwhich(faithhe)isapparentininnuirjerableplacesoftheLatineWri-
ters,butefpeciallyexOrationeCiceronkpro(l^fcioComado.AndthattheonC
fideoftheirBook'was ufedforDebitor^theotherforCreditor^ismanifeft
(faithhe)inacertainplace,ISlatmaliihljlorufliniijlib.2^cap.'j*wherehe
fpeakingofFortune,faiththus
:
HuicomniaExpensA.
HuicomniaFerunturAccepta, &intotaRATionEMtrtd-
Hum/<?/<«UTRAMQJlEPAGINAMf'tclt.
Ifotherstookregarduntothismatter,perhapsfurthercertaintymightbe
found,andthatthisformeofBookkeeping, notonelybytheRomans,
butmighthavebeeninufebeforethemamongfttheGrecians :forbeing
theRomanswerenogreatInventors,buthadtheirexquifiteArtfromthe
Grecians, itisinreafonmoftprobabletocomefromthem
;
whereoffur-
thercertaintymightbefoundinreadingtheGreekHiftories.Thusmuchin
SimonSteyen,fol.105,106. A Tuoiclous
144

153. VV V V
BriefeContents ofthechiefeftPoims
containedinthisBook.
I.\NIntrodudionunrothematterl>ywd.y
•^^ofaDtdogue,pl.ice1,2,3.AgaiHy»m-
d(rthethirdandfourthplaceisJpoken,
2.o/NeedlelIe-Books,pIace 3.fol.4.
3.oftJjcCalh,4»^Banck-book,pla.4.fol.4.
4.of
theSpecie-Book.place4.tol.4.
5.of
thepettyExpences-Book,pla.4.fol.5.
6.of
theCopy-hookof
letters,^h.^.(o\.5
.
7.of
theMemoriall,andufethereof^fol.5.
8.of
theCopy-Book/^r accountsfentto
anytuan^tol.5.
9.of
theWafte-Books,/<;r»?Andoffice,
place5.fol.6.
10.oftheJoatnMs,matter,formiand 0ffice,
place8.fol.8.
11.of
theInventary-r<«^/f,pl.io.fol.8.
12
.
of
theReady-monyinCa(l\andhowto
hookit,ph.i^.{o\.9.
1
3
.
of
theMonyinBanck,rfW^<'ir tobook
;V,placely.fol.?,!©.
14.o//^eUnfold-wares,4fthemakingof
tf«^Inventary^place27iol.11.
15.ofHouses,Lands,Rents,andLegacies,
fol.ii.
16.ofjewels ,Moveables,Ships-parts,
fol.12.
17.0/JVdrcsunfoldforFa£iorageaccounts,
place3d.fol.12.
18.ofWaresunfoldforcompany-account
,
place37.fol.13.
19.ofWaresabroadunfoldfor
f
roperaC'
««»^,place38.fol.i3.
20.0/Waresabroadunfeld^ferhis,ortheir
account^whofcFa^or/<j/»,place39.fol.13.
11.ofWaresabroadunfoldforcompanyac-
count,^hct^^.fol.14.
22.of
Debitors,
of
whomrveareto^4i'f,place
45-fol.14.
23.ofDcbt-demandeTS,ph./\6So\.l').
24.ofCaJJi^byfameentredtnStockesplace,
fol.
15.place
47.
25.ofS/cckesconcealment, pla.52.fol.17.
26.ofTraffickescontmuallexercife,place
52.ioi.18.mththechiefaccountsthatarekept,
folIp.
27.ofMcs
tfAid,verycxquiftietobe
learnedmthoutbooJ!,fo\.i9,20,
28.o/"ProperAccounts,and
THEDEPENDANCES,place63.fol.2I.
29.ofBuyinguponfcverallconditions^phce
6.(o\.21.includingplace70.fol.22.
30.ofBarter,orTruck,phce72.io).22.in-
cludingplace75.fol.23.
31
.
ofWaresboughttob:delivereduntome,
2.3.rveekcsormonelhsaftertheagreement,
place76.fol.23.includingplace79.fol.24.
32.ofShips-partsbought,\->hcc80.fol.24.
33'ofHoufesbought,placeSi,82.fol.24.
34.ofLegacies^i"(f/jf,pla.83,84.fo.24,2
J.
35.Offl)ippingof
warestofellformyaccount,
place85.includingphce91.fol.25.
36.ofSelling,place92.fol.2$.including
placc96.fol.26.
37.offellingforothernares,thatis.Barter^
orTruck,phce
97,9^,99-fol.26.
SS.of
fellingrvares,tobedeliveredbyme,2,
or3.mekes, ormonethsaftertheagreement,
place100,101,102.fol.26,27.
39-ofAbatementsuponwaresbought,place
103jioj.fol.27.
40.ofabatementsuponrvarcsfold
,
place
i04,io6.fol.27.
<
41.ofAbatementsfvrmen)reccivcd,orpaid
beforethetime,place107.fol.27.
^2,ofreceivinguponfcverallcondjtionr,
placeloS.fol.38,29.
/«
12.feverallAriicla.
^3.'
of
thewords.Hisaccount,andMyac-
count,andthedifferencethereof,p\.\09So\.29.
/\ilt^ofGratuitiesgiven,orreceived,place
iio'.fol29.
45ofpayinguponfcverallconditions,place
lil.fol.29,3o'}n9. Articles.
46.ofadvice
f>
cmourFaclers^thatthefor-
merfentcommodities,orpart
ofthemarefold
or,thatpartcfthofeftitcommcditiesarelo[i
4//M,pla.ii5,ii4,ii5,ii($,ii7.foi.30.3i.
47-ofRelumesinwaresfromourFaffor,
placeii9,i2o.fol.3i.
^S.ofRiturnesinmonyfromourFaffor,
placei2i.fol.3i.f5w/>4rrd'>w//;pljce 108.
Articles,g,io,i\,12.
49.0/FactorageAccountsand
THEDependANCESjplace122.fol.32.
50.ofreceitsofwarestefellincommifion,
place
145

154. TheContentsoftheBook.
placei2$.iolSi.inclii(ii»gphcei28.fol,35.
hookedmthoaiafa£for-hoh^4A;iwithoutan
accountofTime,andReady-monv :asalfo
withanaccountofTimeandReaciy-mony,
placei29,i^o.io\.3S.tndfooffeverdUr*-
rietiesjncluding place142.fol.35*
51.ReccitsofmonjRemitteduntous,place
ii\l.includingplace146.fol.j5.
52.RecciisefmonydrawnbyuS,underthe
146.pl3ce.fol.35-
53.of
Salesof
commiponwiresufonft-
verallconditions,^hce146.fol.36.including
place157.fol.37..
'i^.Returnesin tvaresfcntuntoourMakers
^
placeisS.includingplace163.fol.37.
55
.Returnesinmon-j^remittedhyrisuutoour
Ma(lers,place164.anddrawnUfon/«,place
165.fol.37.includingplace168.fol.38.
$6.of
forrainaffairesinFaverageaccotfnt^
placei6p.fol.38.includingpla.173.fo.39.
57.0/CoMPANvAccounts,and
THEDapENDANCESjplace i74fol.
S9'
58.o//^fStockpraraifedTo Meeplace
175.fol.39.
59.Receitofthepomifedmonj,place176.
fol.3P.
60.Receitof
thefromifedrvares,place179.
fol.40.
6i.Bu)iAguponfeverallconditions
^
place
181.fol.40.
62.Waresfhift
toanotherLandforcompany^
place184.foi.41.
63.paymentsupnfeverallconditionsy^hce
i88.fol.41.
64.Salesof
wareshymeantcfmjAdmini-
ftration,phcei91.fol.42.
65
.Salesof
waresbyFadior,orCorrefpon-
dentjplace194.fol.42.
66.ReturnesfromFaflor,erCorrefpon-
dentinmonydrawnby«*,place198.fol.42.
67.Returnesinmonyremittedtoas^place
199.fol.43.
68.ReturnesinwaresfromFaftor,orCor-
refpondentjplace201.fol.43.
69.stockpromifedbyMEE,tobefaidfre-
femly,^hct202.fol.43.
70.Tran(portingofAccountsintheLeager,
fromeneleafenatoanother^'phcQ207.fol.44.
71.EqualizingcfOvex^orUndermeafures,
Weight,Leackage,Pounds,EUs,flr thelike,
place2
1
3.tol.45.
72.LeagersConclufton,orSallancmgof
the
Leager,Tphce216.fol.j^6.Andthecaufesthat
fitajpiovetoaGenerallBallance.
73.Of
theTvyzW-BiWzncQiand themanner,
place.2i8Xol46.
74.of
theTrueBallance,place221.fo.47,
75.Obferz/alionsinBaUancingefthe Leager,
place222.fol.47,48,49,5o.
76.ParticularobfervattonsupontheDebit
fideof
theTrue-ballance,place241.fol.51.
j'j.ParticularohfervationsupontheCrediC
fideoftheTrue-Ballance,place242fol.Ji.
78.ofthe^ournallsforme,phcs 243.fo.52.
79.of
theJournallsoffice,place244.
80.of
theftgnifyingfiguresthatflankabove,
andtinderthelinesinthelournallsmargine,
place246.foI.54.
81.oftheWafie-booksfurtherExtrcife^biing
corripiledinI,oW(7»,fol.55.Lit.J.K.N°.i.
82.0/thecompleat loiirnalluntothefaid
Wafle-book,beginningLit.K.N°.2 .continuing
Lit.L.M.
83.of
theKaleiiders/tf;-«i,4«^Ure,Lit. N.
8/^,of
thecompleatLeager^dependingupor{
thefore-faidWafle-book^andlournaS,Lit.O.
N%2.continuingLit.P.Q;R.
Ss.oftheIo:nnall^KaUnder, andLeager,
W°.?>.withtheorderhorvtobeginNiwbooks
^
Lit.S.
86.0//^ffirftWafte-Book,entredforthe
BeginningLearnerfeiseici{e,andtaught byme^
Lit.T.^".2.compiledinAmflerdam^whofe
Contents(throughthevarieties«/Titles»«»*-
bers)areapparent,andinflantlydifcemedbf
theBooksOver-view, containing78.Titles,
differingfromeachotherinmatter,fortheSC'
gmnersexercife:andfocompiled,that,thefur-
therbepaQethfthemoremcreafeih hisStudies
occafions.
^J.Of
theKiknder,andbriefeContents
of
the'Lta.gtx,dependinguntothefaidWafle-book,
Lit.Bb.N°.I.withathree-foldMoay-Bd-
hnceof
thefaidLtager^hlt.Cc.]>i\ 2.
88.of
theSecondW3As-Book,entredfor a
furtherExercifeof
theBeginner;andtaught
^^w?,Lit.Dd.N.°.i. whofeexqnifttevarie-
tiescannottritelybedifcemedhutbythework-
ingof
it;whichworkwillrequireasmucfiferi-
omfludyattheveryEnd,ttianfoftheformer
Proportions:whichapproveth,thatinhisLear-
ningstimenowafietimeisffent.
89.of
theKalender,/i»^briefeContentsof
theLeager,belonginguntothefecondWafle-
book,Litli.'H\2.includingKk.N°.3.
90.o/r^?Faftor-Book,^«^ afetijaeafin
feverallmanfrvrsofemrances'^\x..K.k.^
.4.
gi,ThenfoUowethaTable,whiehjheweth
Howtofind
whatthePrincipall,andfimple
Intereftof
anyGiven,eiTaktVkfumme will
beattheagreedtimesend^L.'Mm.N°.t
.
146

155. INTRODUCTION
THEFIRSTPLACE.
SPEAKERS,
Thilo'Mathy.School-'Tamer.
3
PhilrrownowSchoolpartner?Whitherawaythusfolitaty?itfeemsyouareinfome
BootkeeS/taught
usbyway%tQaeftionsaudAnfwers,whereofIhavetorgottea
much,becaufeIfrequentnotthedailyexamination,
Phil.Verylikely:ForExercifeisthePreserverof
Art
;
thereforedoIdailyreforttothe
examinatL,which(youknow)ourMaftercontinuallyufeth
:thewhichnotonelyconfir-
met^whatw^have'Lt itislikewifemAugmenurofKmwUig,accordingtotheMottoof
UmesVed:
Pra^icefroiurethfcrfefiton
.
SchSurelyvoufaytruth
:ThereforeIintteatyou(feeingwehavetimeandopportuni-
tyuoqueftionmeinfuchthingsasatprefent
are.ieadieft inyourm.nd-,beginnmgw^h
thefirftgroundsofoutMattersInftrueiions,andfoinbriefforttowadethroughthem^1,
fortherefrefliingofmymemory.
PhilVerygladly
••
forinqueftioningofyouIQwllbethebetterconfirmedinthatwhich
alreadyIhaveobteined.Butfeeingthatallgoodgifts(eveninmeanMechanicalmatters)
proceedfromtheAll-gtwr,asinix<>^.3i.Ver.2,3,4,6,7-appcareth, thereforedoIhum-
blyintreatmyunderftandingsilluminationfromthee
:
^!al#^etb«UeuD* ctcn,Diealleisrcljeppcjgt,
S>elf;^nDial) toec^en,nonoct^to.t,offo^m,of3Cp8t,
©f^ttmonsbegrip,oeociifeenton,ofbatca
:
Slktljain,aitftatisb,caJ^«.eni)-,<©o6Disbbobcnmaten!
^ttnoemtUbt^aitf,
au*beet(cbentic iliatuuc
!
MKt^oD^jaafesmiUJC JBoiit \&toitsDpt(^oe|tcuur,
£Df&tcael,ofKta#,of^-Dteft !(nntmv
tuifcom,mn?ccglje,
3Daticboengtsntjuvt^binD',cno'onoertovj'tecdksJjc,
£Dnfftoatmaetttucfe^iuctfe is,.boloix^maoisftKOcn,
mivflwtcn^upDena'ersbaafeaahm?sbitttcnaectjcn,
?paaals06g^nfcl)booftbbUeabt
(eiw'miftuto'\^ulp^
^at)
i^vfttebelton^^betoaartowetTcarustctti&t '.
atb !luat?tUatbtinssliicfo,oftoaanm?aoeebonfibcraw,
CbafCm?eenftbevpbcstip,
<PocttoJ^al'^^"^"^'^""'^
5DWDinsbenonscrtcbtio^asm,uytmv.teJlaten,
2E<fcbiftfli©»«.,dio©uaa^.bait53it
!
toat^matbmi^m?
^^^^^
147

156. MXntroduUiontoMerchantsJccmpts,
.
Takin"nowmybeginningfromourMaftersgrounds, Iintendinorder(accordingto
capacityUopafTethroughthemall :andbeingthatBook-writing,bywayofDebitorand
Creditor,3ftertheCfo termed)Italianmanner,isrenownedtobeanexquihteknowledg.
(hewmeitsevent. jucjcu
SchTheEventorEndis(faithone)thatwhichmovethtoJllicn,andtheEndhnallis
everbetterthenthatwhichisfortheEnd -,yetthisEndcannotbeattained,butbyanother
thin'intended,asameanstheieonto
••So,thatallthingswhichfasmeans)arefor,and
condWtotheEtid,arenotintended,norprofecuted,butoutofadeliberateandfullinten-
tionoft|ieEnd,, ...
Jnlikemanner.
TheEndofBook-writingistogivecontentmentuntotheBook-owner,and to(hewhim
(orthemwhomtheydoco°ncern)at
alltimes,andineverydegree,howhisEftateflandeth
inthefowrittenBooks.For,theviewofawelleftablirtiedEftatemamansBooks,procu-
rethcontentmentuntothepofTeffor •,yetthiscontentment (fornoreftwithoutformerla-
bour;cannotbeattained,butbyanotherthingintendedasameansthereunto:towit.
Book-keeping-kfiorvledge :andbeingknown,profecuted,anAaffeded ;thefamebeingvery
Reqiiifue,UfefuU,andCommodiousforthewriting.
rprincelyRevenues,findingsofCuflomes,andthelikeduties •,ofwhichat
prefentIintendnottotreat,butmayhereafterhavefomeoccafiontofhew
theneceffitythereofinPrincelyCourts, aswellasinMerchantspaffages
OtthewhichthereisaworthyworkcompiledinDutchforPrinceMau-
riceConteofNaflTaw,whichhelearnedoftheCompiler,SimonStevio
hsMathematician,andexercifedthe(ameinhisCourt,which ftill(asI
havebeeninformed)isthereinufe,asaliointheSwetbianCourt,andelfe-
{where.
I
Merchants-trading
-,beingforPrefer^FamrAggyorComfaiijaccounts sof
i.ihis1intendtofpeakatprefent.
AndthisMirrourofEftateisnottobefeeninanyBook,butonelyintheLea«ei!,wftofe
properofficeitisto(hewtheEftateofthefametotheBook-owner.
of
needle[feBooh
ThisreproveththekeepingofamansEftateinmanyBooks
:
asin-aBookofBuying,
anotherofSelling,anotherofReceipts,anotherofShipping,andwhatnot^Allthefe
BookscannotfliewamansEftate,norCafeofftandingwithanyman,orinanyCommo-
dityuntillallmattersaredrawntoaheaduponapaperinformofaLeager
;fothatthey
haveeverywayasmuchtroubleinWritingtheirimperfeftform,asweinmakingourwork
compleatatonce :butthegeneralitywantcapacitytoapprehendthemanner,andredifie
theirowndefedls
:thereforetheyaffeftthisformbutwithfmallafFedion.
FhiLBein^thatthetenorofourfpeechconcernethSooks^Itakeitnotunfittingthat
yourehearfethofeBooksthataremoftrequifiteforMerchantsufe.toavoidallthofeneed-
lelTeBooks.
„ , ^ ,^ ,
of
theCafh'SookyandSanck-Boet.
Sch.AMerchantinAmfterdamufethaCaftiBook,andaBanck-Book,becaufehis
JournallandLeagerare(inpofting)behind-hand,elfetheLeagermightcaufetheavoid-,
ingforthofetwoBooks.
oftheS^cie-Seoki
AMerchantufethlikewifeaSpecie-BQok,MoreufcfullfortheLow-Countriesthenfor
Englandjbecaufe*ofthevarietyofCoinesthereinufe •,aslikewifeintimesofcontroverfie
toapprovewhatCoinspafTedinReceiptofPayment :whereofJob"ConterechofAnt-
werp
148

157. AnIntroduBion toMerchantsAccompts,
werphathIhewedaworthyexampleinhisBookcalledUDeitfettleUanl5ocb^:uccn.
ofthepelljExpences-Sook.
MoreheufethaBookofpettyExpeacesforhoufe-keeping,andfmalldisburfements
uponMerchandizing
•,thewhicharepolledonceamoneth.orquarterofayear,intothe
TournallofwhichthefaidJohnCoucereeJsN .
B./<?/.p,io, 11.hathlivelyinitances.Si-
monStevininhisPrincelyBook-keeping,/i/.J2.
writethconcerningthisBook,thus:
ThisBookofExpenccsislikewifeakindof
aCa(h-Book,andisonclyforcharges,
whicheenerallyarepottedonceamonethinonefumeintotheJournall
.-partly,forbre-
vitytopoftmanypettiesintoonefumme
••partly,becaufemgreatmenshoufes,icsthe
properofficeoffomeonemantoadminiftratethofepettyexpences,rendnDg anaccountof
eachparticularaswellforMuftardandMatchestokindlethefire,asotthingsofgreater
importance,untowhichendthereiskeptaParticular-Book.
CopyBookof
Letters.
MorehekeepethaCopyBookofLetters,whichinformethhismemoryofwhathe
hathwrittenuntoothers
-,andthisBookisveryrequifiteagainttcontroverfieso£advices,
theLetters(dmetimesnotbeingwellunderftoodbythereceiver.
of
theMemoriall.
AMerchantmayufeaMemorial!,theretonotefomethingsthatproperlyappertainto
nootherBook
:asforinftance •,1lentuntoamana{hilling,orapound,foradayoraweek,
itsfufficienttonoteawordortwopermemory,withoutmakinganyJournallparcellof
thefame
:yeanotintheCladorWafte-Book,forthathathanotheroffice.SimonStevtn,
folzISomeenterfuchthingsintheClad,butthefameisfolarge,thatbyprolongation
oftimeitshardtobefound5andcaufethlikewifeadoubtintheAccomptantwhetheric
(hallbepotted,ornot.
CopyBookfor
Acfountt.
SomeufelikewifeaCopyBook
forAccounts, fent,ordeliveredtoanyman,becaufe
theLeac^eraereethnotcompleatlyineachparticularparcellinorder,orday,withthefenc
Accoun?:elfethatBook,andthewritingthereofmightbeaYoidcd,Otwhichform,ifany
mandefireaninttance,mayhaveitintheBookofJohivCoutereels,Ist.O.foU.&.j.
FourotherprincipallBooksdothaMerchantufeinhisTraffique,towit:
riVAfie-hooi,fore-runneroftheJournall
^y^ournall,orDay-book,fore-runneroftheLeager.
^
).Le/iger^orGather-book,MirrourofamansEftate.
X_ti£ioTkok^iovtheentringofeachparticularreceived,packorpar-
cellofwaresalone,thatcomethintohishandsto(ell,eitherinCommiffion,ortorCompa-
nyAccount.OfthefelaftfourBooksIintendtotreat,andtoexplaintheirproperoffices,
asmuchasthe
All-CoTftpri^^erihzW
pleafetoimparttomyprefentmemoriesapprehenfi-
on.
Po"^'
Ortthee,God,Idodepend^
EvermerviththjShielddepend^
That^efuimyRedeemingLord
MayMercies[entencemeofford:
Andthattheilluminating Sp'rit
GrantthatImajknowmjfelf
aright
y
Toputmyconfidencealone
InTrinity,^uteffe-wherenone.
Eornonehutthoudtdjlwifdomegive .
UntoBezaleel,Ux'xifonnt
•• Ajlb
149

158. --
-I
-
-^--^r-^
AnIntYOdudmtoAderchantsJcccwpts,
Andeveneflovtthoudidjlrelieve
JiimfpithanotherchofenOne.
LORD,foinfufe
thygiftsinme.
Andaidmeinthisworkofmine.
Thatittomanyufe
fullhe^
Thepraifethereof
jhallallbethine.
WASTEbook-
Socalled,becaufewhenthematterisWrittenintotheJournall,thenisthisbookvoid^
andofnoefteem5efpeciallyinHolland,wherethebayingpeoplefirmenottheW^fte-
book,ashereourfNationdoinEngland.
Fhil.ExplainetheofficeanddependancesoftheWafte-book^
ich.TwothingsaretobenotedintheWafte-book.
.
TheFormeis,thatthisbookislinedtowardsthelefthandwithoneline(batfomeufe
two)andtowardstherighthandwiththree5leavingtowardsthelefthandaMargineor
whitenefsofaninchorlefle,accordingtothebooksTargeneffe,toenterthereintheDay,
Moneth,MarkoftheCommodity,orall :andbetweenthethreelinestowardstheright
hand,theretoenterthemony,asbyfeverallinftances(hailbemadeplain.
Theofficeofthisbookis,thatonelytheDaily-tradingoughttobewrittentherein,e-
venasitistrulya^d:
AS
Buying,Selling,Receiving.Paying,Drawing,Remitting,Aflignments,Shipping,&c.
andthismuftbeentredimmediatelyupontheadionofthethingacSted,totheendnopaf-
fingparcellsbeforgotten,accordingtotheDutchProverb:S'atmenftljMt,SDatblpft.
Thatwhithiswritten,Remaineth. InthisbookoughtneitherInventorynorBallanceo£
theLeagertobeentred5forthatisagainfttheofficeofthisbook:itbejngonelytowrite
Trafickingpaflagesin. InthisbookmaywriteMafter,Accomptant,oranyServantof
thehouie,bywhomthethingisaded,orbyadriceandorderofanother. Jnthisbook
muftthematterbeentredinplainfincerityasitisaded,withoutDebitor,orCreditor
foime5forthatistheproperofficeoftheJournall ;likewifemanypeopleunderftandthe
Wafte-bookentrances,thatappreheiidnottheJournallforme. Inthisbookoughtthe
parcelstobeentreddofeundereachotherastheywereadied,withoutleavingofanyemp-
typaper,toavoidfufpicionofForginganyparcellsbetwixtthem,uponanyomittedoccaii-
on :andeachparcel!oughttobefeparatedwithalinefromtheotherbeforewritten,and
enfuingparcel.Inthisbookoughttheadedmattertobefirftentred
5partly,becaufeitis
aibre-runneroftheJournalrefpeciallywhentheMerchantufethanAccomptantthatdwel-
lethwithouthishoufe^forhemayfpmetimebeabfentwhenfuchmattersareaded.Again,
theremaybeanerrorcommittedinWeight,Meafure,QuantityorCafting. Again,be-
caufethematterorconditionmaybechanged,bydiminilhrngoraugmentingofanything?
orbywhollyleavingoutofanymatter,the bargainbeingbroken,andfothatparcellcan-
celledthere
••forBlotchingorRacingoutofanyparcellintheJournallisunbefeeraing-
Fhil'Whatconfiderations elfcaretobeobfervedinthisWafte-book?
Sch.Fiveotherthingsmuftbeduelyobfervedinthisbook
:
1.TheYear,Moneth,Day,TownorPlacewherefuchmattersareaded.
2.TheNameandSurnameofthePartywithwhomwetrade :or,ifitbeFa(5torage3
thenuntotheformernamemuft-beaddedtheOwnersnameforwhomthethingiseffe-
6ted,aslikewifetheplaceof hisRefidence .'andwhethertheBargainbeforTimeor
Readymony,that'saHke, inrefpe(5tofBookingthefameuntohimwhofeCommodities
theyare.
3.jhe
150

159. AnIntrodi^iontoMerchantsAccompli
.
The
quaatityorqualityofthethingtradedfor;as,Ells,Pieces,Coloursj
Weight,Mark,
Number,ExdiaQges. Affignments^rthelike
.
4.ThevalueofpriceofthethiDgtradedfor
:whetherWares,Exchange, or
5Theconditionsorciraitnaaxjcesthatwereufedaboutthematter :atTime»
SuretiOiip,Bondsgivea,ortaken,Broketidge,&c.
1630^
March
.=?o.
TheWafteBookparcellsareoftenour,asthe
cnlumgexamples.
Anno1530.thez'i.ef
March,inLondon.
MamadukeGrimjlonofNorthampton,leodethme68.1
.untiUthe
firftofMaynextcoming:whichfummcCbyhisafrignment)my Caftiier
receivethof^rfA«rJ\/rf»^w^,inconlideration
wheieoflamto allow
himcertainraony;being,withprincipall
• —
iL
^915
§
AffignedSihrant^ohnfenuponThomdfCofttr,fortheaccomptot
Semr!./r,toreceive,495-^.theremainerhathmyCaOiierreceivedof
foL5y^r-.V''»>by
aflignmentofthefaidColter,with7.1,
xo.forfix
Weekstimeforbearance
:thewholebeing-
t
95t
A-^reedwith^acoh^ehnfonofMarken,tolethimhave3000.Flo-
rineslorFranckford.at81.6.Flemifti.toberepaydtomeorAflfignes,
thefirftofTunenext -,astheExchange(hallthenreturnfromFranck-
ford:thisbeingmonyfortheCompanyofEdwardDenuatNor-
thamptonandme,eachonehalfe,producing
Inpartofpaymentofthefame,ldeliverhimiS.Lafls,7.Maddeof
Rye,beinginCompany
t
forEdwardDenis^^%forme at15
o.gl.
eachUaready-mony,is 51.3834.8.i^-Therema.nerhaveImade
goodinB^nckCforhlm) upontheaccomptof^^fm^ohnfonV.A
abatinga2.7fil.forBanCk-inooy,atoneferCent,thewholeproduceth
.9-
101210
lOIZTO—
Thil.Whatufehavethofe(lantling(Irokesthatare^rawnmtheMargine
.
5./^.Theyhavetwoufes:i.They(hewhowfarispoftedoutoftheWafte-book
intotheJournall,andtheyareafuremarkthatamanomitnoparcell,beingcalled
awayfromhispolling:neithertoenteronethingtwiceuponthefaid"llmgaway.
2.TheyfliewhowmanyJournalparcellsareincludedmfuchaWafleBookparcel,
infomuch,thatinre-pointingoftheWafte-Book, amanmay/heeafierleehe
quantityoftheincludedparcells.whenttieWafteandJournall
J^»
becompared
againfteachother.Somedrawthofeftrokesontherighthand,wherethemonyis
j
butthatmultitudeofStrokesdarkneththemonyfummes
:
exchhachoice.The
Wafte-Bookparcellsoughtwithallconvenientfpeedtobepofted'ntoj^«
Jo°f;
nall,andLeager,totheendtheBookownermaythebetterdifcernhowb«cale
ftandethwitheachman,andmatter.ThusmuchoftheWafte-BookmTorm,Office,
andCircumjlances :Now,
OFTHEJOURNALL-
Itbeingthef^rftexqulfucBook,whereincarefullyjnuftbeobfcrvedthatMch
parcelhaveitsCharge,audDifcharge
••thatis,thetruep.^/r.r,andCreditorwhere-
SeachJournalpa?cdoughttobegin:whichbeing
jf^^.^/^^^^^
wordsCacwrdmgtothenatureofthematter)exprcfled,^ oneoftheckefefi^nc'fUs
151

160. 8 AnIntroduHion toMerchantsAcompts,
belonginguntobook-keefin^.Markwell •,hethatcandifcernthetiueDebitorandCreditor
inanypropoundedpropoiuion(concerningthisArt)haththeright(Theorick)inwArd-
grotmd-knowledgeandcontemplationofthematters :andhe,andondjhe(withthehelp
ofArithmetickj goethfirminhisaflion,togivecaclimanhisdue,andbookhismatters
underdueandtrueTitles.Itisveryrequifite(ifpoflibleitmaybeeffeded) thatthe
Journallbewrittenbyoneman
••
forintimesofcontroverfiehecanbeftanfwerforhisown
pollings.
a
10
11
rhil.WhatthingsaremoftrequifiteintheJournalltobenoted?
Sch,ThreeNotablethingsaretonotedintheJournall
.•
I.TheMAtterwhereofitismade.
3.TheFormthereof.
3.The0//?ffwhereunto itisufed.
OFTHEJOURNALLSMATTER.
Fhil.ProceedtotheExplicationofthefirftmember.
5f^.TheJi/rf/ff/"whereoftheJournallismade,maybedrawntofivechiefbranches:
forit
Ti.FromtheInventary :asinthelo.andfoto6i.place.
|.2.FromTralSckes continuall Exercife :asin63.place(including
f20J.)
j
5.FromtranfportingoffullaccountsintheLeageruntoanewleaf,Sec206.
proceedetti<< place.
4.FromtheequalizingofOver,orUndcr-Weights,MeafureSjorthe like.
See212.place.
5.FromtheLeagerSConclude,orBallanciosoftheLeager.See215.
».place
Phil.Goonwiththefirftbranch.
Sch.AnufuallInventarygenerallyconfiftethin
'i.Ready-morty,and thatinCa(h,inBanck,orboth.
2.Waresremainingunfouldforproperaccompt :underthisfecond
memberisincludedHoufes,Lands,Rents,Ships-paits 5asalfoWares
unfouldforFadlorage,orCompany-accompts, andthofethatwere
formerly(hiptuntoanotherplace,beiogasyetunfouldforProper,
Fa6lorage,orCompanyaccompts.
^Increafins
•'^
impropeHy ?Debi
/^^'^^°P'^
untowhomwetormerlyfould
:or,thatpromifed
byttieansof tors:and
V
"Spaymentofexchanses,andthelike.
thema-i)^*^"^°''^'?
a-)fn«
,„r3-P^W«rs,S^that havenotasyetgivenusfullfatisfacSion.
5,amem^^_
Mafters,
)^
\_ n.Peopleofwhomwehavebought,orwhofeBillswe
fOf.Debt- 1hjveaccepted.
Decreafing;)deman- !2.Fa(aors, *5
improperly*)ders;and "j3.Partners,^untowhomweasyethavenotgivenfull
bymeansofcthemIn 4.Mafters,^content.
«> [^5.Wares,partlyfouldforFadoragcofCompany-account.
Phil,Intheabove-ftandingTableyoufpeakofStockesIncreafing,andDecreafingIm-
properly
-,explainthewordImproper.
Sch.SimonStevin,difcourfingofMerchantsBook-keeping, fot.y
5.withPrinceMaw
rit/.
O
152

161. jinIntroduBiontoMerchantsyfccompts.
13
14
rw,concerningScockeSIncreafing,andDecreafing
•thePrincefaith,that,Moniei^Wares
y
aodDebitors,IncreafeStock
••forthemoreamanhathofthem,thegreaterwillhisStock
be.Contrarily,Debt-dtmandersDecreafeStock.SimonStevinreplyeth,tobeofano-
therOpinion -,exprelTinghimfelfwiththeenfuingInftance
••li(faithhe)informerBooks
IboughtofPeteraBaleofPepperuponTime •,thatPepperaugmentethnotmyStock
:
forPeterdemandeth ofmethevalue,timebeingexpired.Inlikemanner,myStockde-
creafethnot,becaufePeterisaDf^;-</fwWfr
.-foritsasmuchaugmentedbythePep-
per.ButifaBaleofPepperbegivenme,that,trulyaugmentethmyStock:forIen-
ter,Pepper-debitortoStock.And,/o/54.AMerchantgivingcertainhundredstoMar-
riagewithhisD^^s^^^/i-r,thatdecreafethStock.Bythismayeafilybedifcerned,what
StockAugraenter.and Diminiftierproperlyis.
12 Phil.SpeakingofStocksIncreafing,andDecreafing,yourehearfedinhowmanyparts
thefubftanceofanInvcntarydidconfift-,butletmcnowhearyouneminatethQ true
DebitorsQi^iCreditorsoit'aQfameertel)
^withoutanyotherCircumftancesofDi(aaci-
ons.
SchTogiveyouthebettercontent,Iwillfpeakeofeachinorderastheyftaad:and
firft,
'
OFTHEREADYMONY.
Phil.HowBookyoutheReady-monyafterthewayofDebitorandCreditor
'-
Sch.Caf}DebitortoStock.
Phil,WhymakeyouC4^Debitor?
Sch.BecaufeCrf/?)(havingreceivedmymonyintoit)isobligedtoreltoreitagainac
mypleafure.-forCd/fe reprefenteth(tome)aman,towhomI(onelyuponconfidence)
haveputmymonyintohiskeeping-,thewhichbyreafonisobligedtoreaderitback,
or,togivemeanaccountwhatisbecomeofit:evenfo,\iCafhhQbrokenopen,itgi-
vethmenoticewhat'sbecomeofmymony,elfeitwouldredound itwhollybackto
me.
. . - n -KT
Phil.WhydoyouufethewordCajh,beingthewordMettjismufeamongftourNa-
tionf
_ c ,n \,cc
Sch.SimonStevintreatingofthiswordwithPrinceMaurttsofNa[}aH,inthehtc
Head-pointofhisPrincelyBook-keeping,/-;/ 52.faith,thathecouldgivenoneother
reafon,batonely,thatthiswordisinUfe^whichifitwerenot,1account 1
1
betterdaithhe)
tQ\3.Vtit\d,Monj isDebitor. ... _
OurMafterufuallyalledgedthedifferencebetweenprivate,andgeneralldilcourles,
(hewingthatmanywordsarcufuallyamongDutch,French,andotherNations,with
whomaMerchantdothtrafficke;thereforehethoughtitfictefttoufegenerallwords,
asbeinggenerallyknown,andmoftufefullin Book-keepingselfe(laidhe)whyIhould
notMonjbearitsownNameaswellasothercommodities
•'
Phil.OneotherQueftionI havetodemandbeforeyouproceed,whichis.Whyis
SlockmadeCreditori
rr x. a,u *
Sch.Becaufetheword5/()f;&conta!nethinit, allwhatamanpoffefleth-, \vhether.Wo-
nej,mres,Debtsd\ittoMS, orthelike:and(markethiswell)C^,yea,eachparticular
thingthatIpoiTelTe, isbutamemberofthatwholebodyStocke-,thereforebythe.joynt
meetingofallthofemembers,thebody(S(cft) ismadecomplear.
17 Phil.HavingpafledthefirftpartofReady-mony,treatnowfomewhac
CFTHEMONYINBANCKE.
IFormthehandsoftheHonourableLordsoftheBancke,Ihaveacertainfummeofmo-
Iney
•,how(halllIBookthat<
^^^^g^nck
NOTE.-Pages23to43,10to14,24io44,48,49and53ofthetextareomitted,lecause^heygive
questionsandanswerssettingforthhorvjc^urnalentriesxuiderdrffermg
^Zl'TudZeZorearelt
notpresentanyargumentation ortheory,nordotheyshowwhytheyaremade,andthereforeareprac
ticallynothingbutrepetitionsofwhathasbeensaidmotherpages.
153
15
16

162. 14 JnhitroduBiontoMerchaniiJccompls,
40 Fhil.LetinehearyouenterchisaccordingtothenatureoftheInventary.
Sch.Theywerefentbefore-,andthereforeIenternow.
EdrrardDctiiiofNorthampton hisaccountatRoaninFrance,intheAdminiflration
ofP.D.DebitortoStock •,forthechargesbymedoneatthefirllfending. See46.
plJce,
rbil.Butfuppofethechargesthatyoudidatthefirftfendingwerewritofffromhis
above-namedRoanaccount,untohisaccountcurrant,beingthatIwouldhavealldisbuir-
fedmoneyupononeaccount
-,andthereforethataccounthathnochargenowuponit.
Sch.EdwardDenisofNorthampton,his accountatRoaninFrance,intheAdminiflra-
tionofP.D.isDebitortoStock :Nota,foraBlankfumme,bothinDebitandCredit
;
andmuftbefocarriedtoeachaccountferFermam,becaufetheremuftnotbeaDebitor
withouta-Creditor,northecontrary.
41
41
U
44
45
Phil.SuppofeP.D.hadintheformerbooksmadefaleofpart,orwhole •,whereofyou
hadadvicethen,butnoReturns.See46.place.
Sch.P.D.atRoan,fortheproperaccountofE-D.atN.N.DebitortoStock -,foras
muchastheknownfalesimport
••andfoIpafsforward,accordingtotheTablestenour,
unto,.
Waresabroad,unfold,forCompany-
Account.
Phil.IperceiveyoucleaveclofetotheTable.
^J;.School-men(asIhaveread)fay,thatagoodDifputantoughtnevertodigrelTe
fromthepropounded Propofition, until!itbedifcuffed.NeitheroughtanyWriterto
commitadigrefTionfromthegroundsofhisintendedfubjeil,asisherethebefore-entred
Tableinthe10.place,asalfotheenfuingthreeTables5towit,TheTableofAccounts
Preferinthe63.place:theTableofJ<Jt7orj^e-accountsinthe122.place:andtheTable
ofC(?w/'.i«^-accountsin the174.place.FromthefeIintendnottoflray.,butinorder
willworkuponthemfastheTableflnlldelivermatterthereunto :)themore,becaureany
onewhichfliallhaveoccafiontofeekamatterinanyofthofeparticularTables,whether
intheInventaries,Prefer^Fagiotage,or,Cfmpa»y'T2hks^mayprefentlyknowwhatgoeth
before,or,foUowethhisdeliredmatter.
thil.Buttoourintendedpurpofe;rehearfefomeInftancesofCompanyunfoldWares,
'VoyagetoRoan,confignedtoPierreduPint^beinginCompany^
for^ames^artrAm,andme,each
^
IDebitor
5f>^.<VoyagetoLisborne, confignedtoPedrodelVerde
.^being in>to
ICompany,\forKohericliften,andPartner, ifor^ames^ojncr:, \Stock,
[and
J
forme.
-J
Phil,HavinginorderwadedthroughthefecondbranchoftheInventary-Table, inthe
10.place;proceedtothethirdbranchofStocksincreafing:being
_
DEBITORS,OFWHOMWEARE
TOHAVE.
Sch.Fourinnumberaretheycomprehendedunder,inthethirdbranchoftheIo.place.
andmayallbejoynedasunderone
;yetinbriefIwilltoucheachapart
••as
Ci.B.c.towhomweformerlyfold,or,thathehadacceptedourExchanges,
<DebitortoStock.
C'i.CD.atVenicemyaccountcurrant,DebitortoStock.
5.Partner^
154

163. AnIntroduBiontoMerchantsAccompts. '5
46
'Whobath partofMyeftateinhishands,tobeimployed.by
jhimforthegoodofourCompany
.•N.N.myaccountbyhim
jinCompany,Debitor toStock.
<3.Partner
<WhofepartofStockisinmyhandstobebymeimployed,and
': '
I
lamforhirtindisburfe :N.N.hisaccountbymeinCompa-
(ny,DebitortoStock.
[/^.M,M-atColchefterhisaccountCurrant,Debicor toStock.
BythewordCurrant,donotIunderftandtheaccountthatisoppoficetoanaccounc
oiTime,(forIdiftingailhthembythenameofTime,andReady-monyjbutbyCurrant
,
Iunderftand, aRmmngicconniXconte-Courante) uponthewhichallthingsmaypafTe,as
wellfortime,asReady-mony.
Thil.ThusIfeeyouhavepafledthroughthethreebranchesofStocksIncreaGng,with
thedependancesofthefameinabriefemanner:whatfoUowethnexttotreatof:^
DEBT-DEMANDERS.
Sch.Inthe10.placeis(hewed,thatStockhath(Improperly)aDecreafing part;and
thatagainisdividedintofiveSubdiviiionsrofthefcinbriefelikewife,afteraplainmanner:
asthus,
fi.B.E.Ofwhomweformerlybought,orwhofeBillsinformerBooks
v;eaccepted,andprefeatlyBookedthem,butnotduetobepaidinthofe
Books.
2.£.F.atConftantinoplc,myaccountCurrant',forthathehathmademe
moreReturnsthenmyfoldWaresdidimport.
/MyaccountbyhiminCompany,hehavingpaidoutmorethen
Vhispartdothimport.
3.Partner,|HisaccountbymeinCompaby
••
Ihavingreceivedintomyhands
Stocke is
ff
monyforfoldWares,anddetainhispartthereof,wherehe
Debitorto^ J
oughctohaveit,
„. , ,.^»,
. , . ^ ^.
4.F.G.HisaccountCurrant
-^thecreditorwhichbeingheavierthenhis
Debit:butwhetheritbeinReady-mony,or> forWaresfoldupontime,
thatsnotmateriall,inrefpedlofhisRunning-accountsform.
J.G.W.HisaccountofKcrffes,forfomuchaswasfolduponthataccount
inthefornverBook
••
S'ee3:6.place.
DurancesinCompany,!forA.B.-^forB,C.and|forme
.•forfomuchasinthe
formerBookwasfolduponthataccoaint:Sec37.place,itbeingcompared
withthis,
i^£(/rprfriDf»*fofNorthampton, hisaccountatiJ<?4»</»fr4w;, intheAdmi-
niftrationofP.D.forasmuchastheknownSalesimport. iV<?/i»,inthe42.place,th:
fadorwasmadeDebitortoStock,for.thelikefumme:thereforeourStockflandeth
wellinthelikecafewithothers.Again,wehaveourfirftchargesdoneujgooduntoour
Stockinthe40.place.
StockDebitortoVoyagetoLisborne,configneduntoPedrodelFergo,beinginCom-
pany,7forRobertcltftpft,andPartner^for^ames^oper,and\forme:forasmuchas
theknownSalesimport.Youmuftconceive,thatPedrodelTergo^ouraccount,being
inCompany,
iforRehertcUfton,zx\i.Partner •,«for/./.andiforme:either(iandetb
,or,
jhoddflandDe:h or toStockyforthelikefummc, thatStockftandechDebitortothe
VoyagefortheSales;fortheI'^o'^agecannothaveaCredit,butbyone,ormoreDebitours
5hatevenCounter-poizethatCredit.
4T
Phil.lhavefeenyourDx/fr/VjfmtliehandlingoftheInventary-Table
,
•05alfoin
theBooking'oiamansknowneftate-,butifaMerchantwillnothavehiseftateknown^
ho^r
153

164. \6 AnIntroduBiontoMerchantsJccomptSf
howWillyoubehaveyourfelftherein^Ha!IthinkIhavepos'dyouhow.Nowyou
are(lall'd,!trow.
ScIj.InfuchdifficultQueltionsyoucannotdebarreme,totaketheaidoffomeRe-
nownedAuthors :toripthefirftplaceofourDialogue1fearedmyweakriefTe,becaufeI
frequentednotthedailyExamination •,butalthoughIfrequeutnottheSchool,Iamyet
notignorantotwhattheAuthorspaflagesareuponthisSutjeft--andtherefore I-willde-
cidevourQueftion, withtheSolutionofMatterHenryWaningheninthefirftChapter,
the
17.Queftionsanfwer ;hiswordsareihefe:Cd(bmufiheentredinftaceofStccke,rw-
kingallthatisduetomDebitortofajh:eontrartlj^Cap)Deifiterto*llthemthataretohaveef
us.
Withhim(intheveryfamewords)agreeihhisDifcipleJoannesBuingha^whonow
atAm(terdam,afterthedeathofhisbefore-namedMafter,fucceedeth hisplaceinSchool-
mafterfhip.Seethe38.pageofhisBook,printed 1627.
^.CarpenterGent,inhisMojlExcellentInliriiBion^printedinLondon1632.isadireft
Imitatorofboththeformer :SeefoL20.24.o^hisBook :andnomervaile •,torthegrea-
teftpartofhispubliftiedBook,isnothingelfebutagenerallcopy-of HenrjWininghens
Book,bothinwords,andnumberoftheQueftions.^. C.inhisEpiftletotheReader,
pretendcihIgnorance,ofnotknowingtheAuthor,whointheFrenchLanguagemany
yearsagonewaseafietobefound.
r^8
49
50
51
fhil.ShewmefomeInftanceshowtheywouldBooktheirpaTTageT.
Sch.InbriefeIwill:andfirft,
OFTHEWARES.
rrGrograines^
Kerfies ^DebitortoCafii,
Durances,
ofthePeoplethatowetous.
RobinGood-fellow^"^
HermanHard.-head^^X^e\i ot toCafli*
^ehnGentleman}^
<
OfthePeoplethatweoweunto.
PRowlandRed-beard,
Cafli'Dt}MOXt(^RalfhWould-mll.
'^ejp(lReach-fatre.
fhil.Suppofeamanatthemaking<dhis,InventaryhathTomeniony,how(hallhe
Bookthat^
Sch.Thebefore-named intheplacesoftheirBooksmentioned,fay.TheReady-fMHjU
nottobeentred^tillyoudisburfethefame.
Phil.SuppofewithpartofthatconcealedmonyyouboughtWares^mdwithotherpart,
paidthemuntowhomyouareindebted :howenteryouthati
Wares,?
People
f^debitortoCafe.
Phil.Thisbein^thusTehearfed,whatwillyouconclude5havethefe^thinkyou)di-
gieiled^
Sch.Suppofetheyhad,what'sthattomeifButbecaufeyoufeouldnotfloutatme,
thmkmgmycapacitytobefoftupid,thatitisvoidqfdiftin^on, Iwillinfomebncfe
Inotesonelytouchthefame. Hrftly,
156

165. AnIntroduUiontoMerchants/fccoyfipis.
t
j
>2
53
54
Firft,letmeconfiderwhetherthe-Book-ownerbemoreindebtedthenhisEftate«
worth;wliichifhebe,thenistheirentrancegood,forhisEftacesconcealment: forthe
DebitftdeofCafhoughttobeheavie(l,er,havingnomo/ty, itmuflbecvcn^beeaujcallis
faidout :butifhehaveanyEftate,thenistheCreditofhisCafh(whoftandethin
StocksRend)heOLvicQ. :andthereforeanfrz-w^,beingthereismorepaid,thenwasre-
cei\^ed.
Secondly,thecommoditiiesthatwehaveatthemakingofourInventary,werebought
InformerBooks,andtheremadeDebitors
;andthatwenowenterihemagamDebitorsto
Cajh,istore-buythem-andconfequently, inplaceofbook-reforming,hok-dtforming
^
andanundefendableErrour^
.
Thirdly,thePeoplevvhomwenowmakeDebitorstoCafh^^xqabfoluteljomDebitorf',
anddowefaythem,whoaretofayus<manymenwoulddefiretobeourDebitors.
Fourthly,Asfenfelefleisit,toniakeCa(hDebitortoPeoplethataretohaveofus -,will
theythataretohaveofusICO.T.foraBillofExchangebyusaccepted,fay,Comemj
Friend,youhaveacceptedanExchahge,topayattimeexpired,whichisnow
.
fendyour
mantomyhoafe,andthemony(hallincontinentlybepaidtohim•r7thinknothinglejje.
(Cj^Fifthly,Cafhmayneverhea:x'»itmed,Nota^notnamtd,butwhenmoneyiseithertruly
,
andreallypaid,or,received,asinthely.placeismentioned. ButifthefePeopleenter
/^rg-e^Imaginariesinthe/"^rf'/rwroftheirBooks.-whatisnottobeexpe(ftedbeforethe
End?
Sixthly,TheStockwhichtheyfeektoconceale^ismaniteftinthedifferenceofCafhic
felf.ForletthentranfporctheirCafh^andthey(hallfind(ffasbeforeisfaid,thattheic
Eftate'ftandwell)(thatC4^/is,andintranfportingforward,alwayesremainethCreditor,
Ballancethd^tCajh,andtellmewhat(hallbedonewiththedifference.Carryittoanewac-
count,whatthen,^thereitwillprovetobeStock.CarryittoProfitandLoffe,thereit
willprovetobeStockesAugmenter.Wonderisit^thatthefeandmanyotherForrainbred'
defebsmuflnowbecloathedinEnglijhAttiri^andpafTeforcurrantamongftusISurely,
ourJudgementisweakinthedifcemingof
thisArt,
Phil.Iperceivetheir^JaTTagesinBookingofthefrMatters,dothnotdigeftwithyou
jis
thereamoreplainway^difcoverthat.
Sch.IfwewereasExallDifculJorsASv/e areImitators •,wehadnotbeen(odeforced,asto
entertainthofeForr2indeteds,having betterathome.
Lookiato^amesPeek,whofewell-entrances,throughneglcdingAge(ordlldainof
DomeftickWriters,andextollingofForrain)areasffrangetous,asthough(asthefay-
ingis)theywerewritteninHeathenGreek..Hertiewethusthefitground-work,howto
concealeamansEftate,intheBookingofhisprivateaccounts,andmattersmaaifefted
forMcrchandizipg.
Phil.Inflancefomeparticulars,howtoBookthemanifeftedpart.
Sch.You(peako(j>art;whetherhebringinpart,or,All',whocancertainlyknow
that1beingthatwecanbutAimeatit,astheBlindatthecolourofcloth.Andforthat
whichhemanifefteth,maybe
//Cafh,^
^
\Banck,
// ,.
.
cntred|Perpetuanes, i
^'f'""
""^°^^=
iMarmadukeMan, ((
^'^'^"^^^^^O^""'
\j^ohnKnollsx.Lisborn,myaccountProper,—])
Fhil.HowfhalltheMafler,orBook-owner, enterintohisfr/vrf/fBooksthethiftg*^
manifeftedforMerchandizing ^
rfCa(b,
Sch.Generallaccountv,Banck,
forTraffick,Debi-s:Perpetuanes,
totto
fi
MarmadukeMan,
\
foJmKnollatLisborD,rayaccountProper
.
157

166. 1
8
AnIntroduBiontoAderchantsJccompts.
55
57
58
59
go.
61
6i
P/'//.SuppofethereisgaineduponWaresfould.
Sch.WaresDebitortoPrivateaccount,fortheGaines •,dothelikeinFaftoraccounts,
andallother,uponwhichGainesarifeth.
Thil.SuppofeIlofebyWares,orExchanges.
SckPrivateaccount^DebitortoWares,Exchanges,or,untothataccount^uponwhich
LofTearifeth.
Fhil.AttheConcludeofmyBook,IfurrenderJ»ftf»«^,De^//,andHnfould-Wares.
SckVuvzitaccountDebitortoCaihjMen,andWares,eachnamefeverally.
Fhil.How(halltheBook-ownerenterbackinhisprivateBooksthe/*>rrw</rfifeverall
matters ?;
Hil.Cafh,Men,Wares,eachnamefeverally,DebitortoGenerallaccountforTraf'
Jick.
Fhil.HowfhalltheBook-ownerenterintohisPrivateBook,theGainesthataretound
uponhisBookofTrafficki
Sch.GenerallaccountforTraffick,Debitor toProfitandLofle.
Thil.ButifheloftinhisBookforTraffick.
5f)&.Profit,andLoffeDebitortoGenerallaccountfortraffict;becaufeithathfur-
fendredbackklTe,thenformerlywasconfidenteduntothefame:JudgeoftheGaines
likewife,thattheGenerallaccountforTraffickyieldedmore,thenthefirftin-laid
Principall.HereyoufeethematterfUinlydtfcurffed.Hereyoufeetheground-work,
bywhichtheyareconfuted,gatheredfromeneofourown'Nation
5whichtotheirmif-en-
tringsmightratherhavebeen
AworthyRefutation,
Then.bytheirApprobation
TobringthemtoourNatioOi
ButitfeeemeththatthisAbfurdity(anJmanymore,whichupondueExaminationof
theirworksapparently/cmmakeappear)wasnotdifcerned,or,beingdifcerned^howto
amendit.Experiencehadnotbefriendedthem.
PA//.RehearfeTomeotherInftancesoftheirMif-cntrances,that(fortheReader)they
maybeasBuojesinthis5M,tokeephimfromIgnorancesShip-wrack.
Sch.VerylothamItofrjanyfurtherintotheirBooks:fortheirAdjurdttietarema-
riyindiversmatters.AndifIfhoulddiveintothemall,itwouldbethoughtthatIone-
lyutteredSatjricallSnarlings,wheremyflainmeaning is,toftirrethemuptoamore
feriottififidj,thatthefillybeginnerbenotftuftrateofhisExpeiftation :feekinginthem
('asone[zith)SapientiajbutfindingJpedia
:thereforeletmeproceedtowardsourintended
purpofe.
Phil.Well •,forthistimeletusdoasyoudefire
:Whatfollowethnexttotreatof,
feeingthfcJ»'i'f»'<";)',withtheDependances(whichisihefrflmatterwhereoftheJoQr-
nallismade)aredifculTedi
Sch.Thefecondmatterwhereofthe^ournallismade,isthenextthinginorderthat
wearetotreatupon;andproceedethfrom
TRAFFICKESCONTINUALLEXERCISE,
asintheNinthplaceisrehearfed :whereinis£0beconfideredthreePrincipallaccounts,
confifting
la
15S

167. AnIntrodnBim toMerchantsJ^ccompts,
'9
^DerKefltck-affaires:forfoItermethofethings
>
,
"^^'V
^Accounts:andeachVT*"?
^'""^'^^"Adminiftraxion, adm.niftrateas
laUFaHorage
^
^^-
^^^^^ j^^^
•^^^^
chiefeManagermthemattei •,whetherinProber.
{^Comfsnj
2i
if
F'^^orage^oXjCompanyaccounts.
vForrame-affaires.-ioxio doInominatetKofemat-
ters,thatanotheradminiftratcth aschiefeAdlorin rWiththeWaresBills
thematcer,withouthand-adionofme,or,fliine.*(/''i(!?cr^andMoniesthatI
andthusdomy \partnerSfendtohim,tobe
J) c
ioiployedforme.
IFriend:untowhomIfencmy
MattersWares,becaufetheywerenotVendiblehere,asinthe39.placeisexpreffed
.•
the
faidFriendistobecountablefortheSalesthereoftome,andItomyMafter,with
whofeorderIfenrthemthither-,henothavinganyacquaintancewiththeman,nor
Tradingforthatplace.Ofthefctintendtotreatinorder^i.%theyareentredintheabovc-
flandingTable :butfirflIwillBookfomeexquifite
Rulesof
aide
^veryrequiftt;inTradescontinuance^ tobelearnedwithoutBook.
r.WhatfoevercommethuntoKis (whe*
therMoay,orWares)forProper,Fad:o-
rage,orCompanyaccount,thefameis
Debitor.
2,WhofoeverPromifeth,thePromifetis
i—
—
-Debitor.
3.Untowhomwepay(?vhetherwith
Mony,Wares,Exchanges,Aflignations)bc-
ingforhisownaccount
••thatman is
1 — Debitor,
1.Whatfoevergoethfromus(whether
Mony,orWares)forProper,Fadorage,or
Companyaccount,thefameis Creditor,
2.UntowhomwePromife,thePromi-
fcdmanis Creditor.
3.Ofwhomwereceive(whetherMo-
ny,Wares,Exchanges,Affignations)be-
in^forhisownaccount :that "manis
creditor.
4.Untowhoimwepay(asabo^re)for
anothermansaccount
:
Themanforwhofe'accountwepay,is
Debitor.
5.WhenwebuyWar^s"foranother
mansaccount(whetherwepaythempte-
fentIy,ornot,thatisalloneintheefttrance)
andfendthem-untohim,oruntoanotherby
hisOlder.
Themanforwhofeaccountwebought
^
andfentthem, isfortheWares,andChar-
ges,— Debitor.
6,IfwedeliveranAffigtiationuntoany
man(whether itbeourown,oranotfeers)
thatmanforwhofeaccountwedeliverthat
Aflignationinpayment,is Debitor,
NOTA,
ThisismuchlikethethirdArticle,but
thisisherethusentred,becaufethisArticle
isheremorelargelyexplained,forthebet-
terunderftandingofAflignation.
7.Whenwe,oranyothermanforns,fen-
dethcommoditiesuntoanotherLand,or
Towne,tobefouldjforProperorCompany
account,thenis
4.Ofwhomwereceive(asabove)for
anothermansaccount:
Themanforwhofeaccountwereceive^
is Creditor,
5.WhenwebuyfoTourfelves,orfor
aflothcrman,andpaynotprefently^
Themanofwhomweboughtthofe
Wares,is- —Crtdiiori
6.WhofoeverdeliverethanAflignation
untousuponanyman,forhisownaccount
:
themanofwhomwereceivedil,isCreditor.
OR,
UponwhomIdelivermineAflignation,
tobepaidbyhimforhisownaccount,that
manis— -Creditor
OR,
Wholbever(topleafure,oraccommo-
dateme)payethmyAflignation,theac-
commodatingman,is Creditor.
7.Whenwereceiveadvicefromour
Fadtor,thatthofefentcommodities,orpart
ofthemarefouldjOrloftthenis
D2 Voyage
159

168. 20 AnInlYodiBiontoMerchantsAccowfts,
Voyagetofuchaplaceconfignedtofuch
aman
Debitor.
8.WhenwepayCuftome,Infurance
,
orothercharges,-uponthefendingofthofc
commodities,thenis
Voyage(asabove)-
—
—
Dtbttor.
9.Whenwecaufethefentgoodstobe
infured,butpayitnotprefently,thenis
<53
Voyage("asabove)-
-Bcbitior.
14.IfweremitExchangesuntoany
man,forhimfelf,forme,oranyother
man:
TheFaftor,Ifforme^orthemanfor
whofeaccountitwasremitted,is
—
Debitor.
15.Whenwelofebygratuitiesgiven,
whethergreat,orfmall,orhowloever,then
isProfitandLofle
jxbitor.
Voyagetofuchaplaceconfigne-dtofuch
aman Creditor.
8.Ca(h,orchargesofMerchandizing is
Creditor.Noia,diversMerchantskeepfuch
anaccountofchargesofMerchandizing,
efpeciallythofethathaveCafhierswithin
theirownhoufe.
p.TheInfuieris Creditor.
lo.Whenweenfureanymansfent
Wares,andreceivethemonyprefently
,
thenisCalli-:
Debitor.
n.WhenWeInfureanymansfent
Wares,andreceivenotthemonyprefent-
ly,thenistheman,forwhofeaccountwe
InfuredthofeWares,-
Debitor.
12.Whenwereceiveadvice,thatthe
formerfentWares:,orpartofthemarefold,
thenis
TheFaftbrthatfoldthemforourac-
count
^ Debttor.
15.IfanymandrawExchangesupon
usforhimfelf,orforanyotherman,the
manforwhofe;accountthefamewasdrawn,
is-_ —
—
Debitor.
10.Infurance-reckoning,"^
Or ^isCreditor.
Profit,andLoffe.—
^
Chufeofthefewhichyoupleafe.
11.Asabove Creditor.
Hota,
Merchantsthattrademuchinthiskinde,
ufeana;:countintheirBooks,calledInsu-
rance-reckoning.
12.WhenwereceiveJZf(«r»«,eitherin
MonyorWares, inlieuofthofefould
WareSjthen is
TheFadorthatpayethus,orcaufethus
tobepaid, —
'
>
Creditor.
13.IfwedrawExchangesuponany
manforhfmfelf,orforanyotherman,the
manforwhofe'accountwedraw,tliefame
is Creditor.
14.IfanymanremittethExchangesun,to
usforhimfelf,forme,orforanotherman
5
TheFador,ifforme,orthemanfor
whofeaccountthefamewasremittedtonie
is Criekter,
15.Whenwegainbygratuitiesrecei-
ved,whethergreat,orfmall,orhowfo-
ever,then isProfit,andLofTe
—
•—
Creditor.
Phil.^HavingthusplacedyourRulesef
4;Wf,proceed(aswasdetermined)tothefirftof
yourbefore-mentioned Principallaccounts.
Sch.ThefirftnominatedPrincipallaccount(forplainapprehenfionsfake)Iwilldij^Uj
undertheformofaccount,
Prpm
160

169. AnIntroduBiontoMerchantsAcompts, ii
64
c$
66
in
(Bujing,aponfeverallconditions
.•Seethe64.place.
1shipping
«f
WartstoanotherTowne,orLand,tobe
j
(ouldformyaccount:Seethe85.place.
rr. at..if.;,.,
1StUmfuponfcvetallconditions
:Seethepj-place.
CDomefiuk-Mfatres.
\^
^
^W'-w:Seethe10j.place,
vvhofepartsmaybei,^l"'t('"'r>fsyi?ot*j^^„j,Sf:etht
lop.^hc^.
j
Receiving :Seethe108.place,having12.branches.
IGratuity :Seethe110.place.
(faying :Seethe111.place.
rAdvice
,thatthefentgoods, rSould jSeethe1
13.place,
S or,partofthemare \Loft
••Seethe1
17.place.
Forratn-affanes ,
Con-<r
^pfrares:Seethe119,place,
liftingin ^Reiurnesm^^^y
,seethe121.place.
Phil.TheTablebeingentredinbriefeasabove,reqairethancxplaiumg
5
thereforeleC
mefeeyourEntrancesuponeachmemberapart.
Sch.ThepartsbeingdividedintoAffairesDomeflick,andForrairte,Iintendtotreatfirft
ofthefirft}andthereinagainofthebranchesorderlyastheyfollow,whofebeginning is
with
BUYING.
i')^/.I%Wheat,andpay forthefameprefentiy,evenuponthereceitthereof:How
Sch.WheatDebitortoCafh.Neta,SomewilUthatofthelikePaffagesfliouldbe
madeadoubleEntrance,becaufeuponallOccafionsthemansnamemightbefoundupon
theAlphabet
:eachdohispleafure -,Iaccountthiswayclear,andevident.Forafterward
ifanycontroverfie(houldarife,thatBook(fromwhencetheQueftionarifcth)will{hew
theYear,andMpneth -,thenisituponmyBookeafietobefound.Nota^Allaccountsof
CommodittcstaaAhdivdintsrvithin^ tokeeptheqmaiityoiEBs,Meaf»re,Weightyandthe
hke.
PA/Z.IBuyRyeContant.butpaynotinnantly.
r -c^
SchRyeDebitortotheManofwhomTboughtit.Nota,thewordContanthgniheth,
uponDemand;andthatagain,for1.2.3.daies,or1.2.orthreeweeks:generally,itisindu-
dedunderonemonethstime;fortnatwhichiscontainedunderthenominationofmonethf^
is1.2.3.ornloremoneths.
67
i thil.IbuyupontwomonethstimealittleparcellofPepper,Ginger,Cloves,orthe
like •,fomeoneparcelltothevalueof10.
1'
andfomeleffe.
Sch.Groceries,DebitortotheAf/jwofwhomIboughtthem :underftandmymeaning,
whichisnot,thatI(houldmaketheCommodityDebitortotheMamfervant,becaufeI
boughtItofhim.-,butuntothePrincipal!,orMan,.r<»n'/;tfw;>^f/(»»^f//', mrefpeclotray
knowledge Nota,theEntranceofthatwhichIbuy,upon2.Daies,2.Moneths,2.Years,
isallasone.-formyacknowledgedmanmuftbeknownuponmyBooks,aswellfor
2.Daics,asfor2.Years.
>ro F^;/IbuyLatton-wyreupon3.monethspayingi;,
partprefentiy.
SchLatton-wyreDebitortotheManPrincipal!,fromwhenceitcame.Andthen,Af4»
PrtncipalLDebitortoCafn,foxthe^-paitnowpaid.Ienterthisthusint;parts,be-
caufefomemaketheBoughtWaresDebitortotheSellingman,forthepartuponTime:
andWaresDebitortoCaHi,forthepartpaid.HereyoufeeWaresaredividedmtotwo
parts,(which isunfeemly)andthereforemufthavetwoJournallparcells
:fothereisevery
wayasmuchwriting,astomaketheWaresDebitortothemanforthewhole •,andthen,
liimDebitortoCalliforthepaidpart.ButitIbuyfeverallWarestopayh
partinmo-
ney,whatbravedivifionswouldthenarife
'.ForeachparcellmufthavetwoDebuoisand
'
Creditorsj.
161

170. Zl AnJfitrocfuBiontoMerchantsJccompts.
69
70
Creditors,whichwillbenofmalltrouble
-,orelfetheymuftlearntoplacetheirparcels
•wuhmorejodgment.
Phil.IbuyClothupon9.n-icnethsTime,whichistorideoutj,thentodifcountfor6.
moneihs
.•payingfortbcminBanck,andotjoyBanck-moniesallowanceinhand.
Jf;^.ClothDebitortotheMian,forthewholecoftuponp.Moneths
••<i»<i/^?«,the
ManDebitortoClothfortheDifcount 5
ardthen^theManDebitortoBanckforthe
fummewrit in.-andther.,Cz(hDebitortoProfitandLclTe-,becaufethemonybyme
writteninBanck,andtheDifcount,counter-vailedthefirflPrincipallupon9.moncths.
Phil.IbuyBarlyuponb.monethstimejdifcounting inftantly
;payingpartinMony.part
byAfTignement,partwithRye.theremainerinBanck,abatingfomuchastheBanck-
moniesallowanceiswDrth.
i{h.BarlyDebitortotheMan,forthewholeupon8.moneths :2.theManDebitorto
Calhforthefummepayd
.
3
.theManDebitoruntohim,whowastopaymyAflignati-
onfor-hisownaccount :4.TheManDebitortoRye,forthedeliveredvalue:5.The
ManDebitortoBanckforthefummemadegood,citheruponhisaccount,or,uponthe
accouiitofanother,by hisorder:6.TheManDebitortoProfit,andLofTe,forBanck-
moniesallowance -,becaufethis,andtheBanck-mony,makebothbutonecompleatpart
ofpayment.-butitIhadwritinBanckhiscompleatpartofpayment,andhemade
goodthemonyforBanckallowancetome,bypayingitinhand
5thtnrauftweenter,
Ca(hDebitortoProfit,andLofTe
:7.TheManDebitortoBarlyforthe8.monethsdif-
count.Nota^Hetirywaninghen.Chapter2.£^cfiion14.entcreththeManDebitortoPro-
fit,andLofle,torthedifcount. Pa(]chier GWj(/<»/,juVJamburglj, printed1594.pircell
44.47.andothers,entreththelike.JohannaBuingha,/dig
^9,^f/?/<>»
7.entreththe
hke.
f.
Carfenur^fol.^^. hisBookingiswithHenryWaninghenthe14,farceUalike
5and
,.-nclyanImitator:andfoofotherAuthors.Butpremeditation ftieweth,thattheiJf-
/faff/ofcommodities(hould»ff/^f carrieduntoProfit,andLoffe,asourprintedAuthors
ingeneralldo,withoutanyfurtherin-fightintothenatureotthematter :ForBarlj^v/hkh
heiorev/isBarlyaponTime,hnovrbecomeBariyforReady-menj
;whichatchebuying
(inrefpeftoftheTimeIwastoflandout,andhavetheufcofthemonyinminemnhands)
coftmewe^fthenitnowwillyieldmeReadymony
-,thewhilethenB/*ri^upon8.mo-
nethswasmorechargedatthebuying,thenitnowisworthCentant^reafonrequireththat
Barl/^(liouldbedtfcharged^becaufeIhavedisburfedmymony
.•SeeRalphHandfonupon
AbatementsinhisTable.
Thismuftbewellregardedin5f^4r«,totheend,thattzchHerfemaybearhisown
Burthen •,wellnoting,thattheRebatetarenotmadegoodinfnony:SeeRalphHandfon,
ffS'Butifwebuyfundry commodities,andhaveanallowanceuponthewholebuying,
thenmuftweenter,
ThemanofwhomIbought,DebitortoProfit,andLofTeProper
.•for»«>onecommo-
ditymayenjeytheallowancemadeuponthewholeCargo,orParcclLjandtomakeadivifi-
onptorato,ofeachcommodities Capitall,wouldbeatroubleforae(btttrue) worke:
thereforeProfitandLofleisthebriefeftcarriageinfuchmatters,beingthe/"^cwalter
eitherofthewayes,tedoundethuntoourfinalladvancefortheAbatement.Thisinbriefe.
r>
SForReady-mony,andprefentlypay: beetheds.place.
^"y^g^Upontime,theconditionsbeingfeverall :See66,67,68,5p,7o.
BARTER,ORTRUCKE.
„j
f/;//.
1buyWares.forotherWares-,valuebeingequall.
^f^.InboughtWares(v«hatnamefoever)DebitortotheDeliverdWares :thisisfel-
domefeen.05-Butifwritingbenottediousuntous,orwenotpaper-penurious ,the
bcft,andmoftuni-formeBookingfinrefpediofthegenerallverieties)ofgiving,orrecei-
vingofdivcrfities(beingWares,andMony,orfeverairWares^ istohavethereceived
WaresDebitortotheTruckingM.an;rndthen,tbeTruckingManDebitortotheDeli-
'
veredWares,
FM,
162

171. AnInttocidBion toMerchantsAaompts,
2;
11
74
75
7<5
77
72
Phil.YouhaverelatedyourmtndcinthingsofanEquallvalue-,butIf1boyWares
payingwitho/Z'^rWaresandMony.
Sch.HennWintnghcn, chapter2,untothe6.^uipon^anfwereth inDutch-,Trgott
uatmcnfcopta?fb<aetivTaaa,33aecnaer,CaffA3Dtbitatntgottoatmctitocghaft, /z«^///Jn
:
TheWaresthatwebuy,DebitortoCa(h •,aftirwArds^Ca(hDebitortotheWaresthat
wedeliver:
*f/^«f,TheWaresthatIbuyareworthloo.1.andtheWaresthatIdeli-
verareworth90.l.Confequently, lfAjingtheMdrt^\Q mufthave90.
1.inWares,and
10.1.inMenj -,fothatCajhisforthe10.1.paid,moreCreditthenDebitjthereforeCafll
huhitsdue.WithHenrfIVaninghenagreeth
f.
Carpenter,fol.2.farcelPS. asbove5he
writethjthegoodsbought,oweuntoCa(hforthewholefurame:andafter^ .Ci(\ow*
ethuntothegoods,whichyouhavedeliveredtotheSeller,forthevalueofthem.
Phil.SeeingyouJruitateinentringoftheir«<&rds
^haVetti^yyourJpprobatiori
*
5f/>.'lhaverelatedtheirwords,notasandffeCHoriate-Follower,butasanAdmirerof
thchimitation.Forasinthe17.and51.placebythisi:J"isfaid;Caflimaynotbe»^-
medinonotNamed)butwhereMo»yiseitherReallypaid,orreceived:Nota^andthewhile
thatitisabfolurelyfalfe, thatCaflihathintheabove-meftiioned72.placenotpaidoat
loo.l.butonely lo.l.norhathicrftrff'x'f^/any pcnyofthe90.1.thereforefoethe90.L
oneachfide,IfayCafjisan^{[e,
Phit.Butintheconclufion,itcomethallfooneporporc.
Sch.Thatisnotmeteriall :whymanywords,whenfewmayfuffice<For^.Carpeniei"
fol.^z.parcell7,anfwerethdire£itothenumber%rhegociswhichyoubuy,owetothe5f/-
/fr.-Andcontrarily, HeowethtoCa(b,andtothegoodswhichyouhavedeliveredhim. This
ISfomewhatlikeamansmony:Butasinthe71.placeisfaid-,Idlenefleinwwting,of
Penurioufneffe inpaper,isthecaufeofthefeFoUyentrances.Fornotonelyinthis,'butia
Exchan^eSjandthelike,becaufewewillnothave(asfomctermeit)aBookfullofnames^
wemufThaveourpalTagesfmothered'uhder thecovertofImaginarynbfcutityt,whereas
wemayhavethemdelectablyBooked,ifwewerenotfparinginwriting.3Daerentflmet,
jonoertcfodct,Nothingwithouttrouble.ButIhavenotimetodifcuffeothermensworks
3
theretoreletmeproceed.
Phil.IbuyWares,deliveringag-eatvalue •,^ndreceivingtheOver-plusbackia
Mony.
Sch.In-boughtWaresDebitortorhrSellingMan,fortheirvalue-,2.TheManDe-
bitortoDeliveredWares,fortheirvalue •3.Ca(hDebitortotheMan,fortl-eReceived
mony,to''quailtheTruck.So,inbrief-, ittheWaresareofanequallvalue,rAf»enter
BoughtWares,Debitortothe.Tradingman.- 1.TradingManDebitortoDelivered
Wares?becaufethevalueiseqoall.Ifun-equall,andMonygiven -,thenenter,In-boughc
WaresDebitortotheTradingMan
:and/Af»,TradingManDebitortoDeliveredWares,
andtoCalh.Butifun-equall,andMonyReceived
,,In^boughtWares,andCaOi,Debitor
totheTradingMan
:andthen.Trading3nDebitortoDeliveredWares.AndfoIpro-
ceedtoWaresbought,whichatetobe
Deliveredrace,2.3.Weckes,orMonethsafter
theagreement.
Phil.IbuyWares,agreeingnowforQuantity,andPrice •,batamtoreceivethem23
monethshence.
Sch.ThePromiftttgMaitisX>thkoTtoPromtfereckoning.
Phil.Ihavealreadybythisoneparcellconceived,thatyoudigreffcfromdiversPrinted
Aathors :for,
PaffchierGoefjensofBruQel^mtheGermanLanguage,
PieterNicolaefenDaventrienfis,
^ohnWiltcmfonofL<uven>
163

172. +4
An{niYodvBiontoMercfoatns/Iccompts,
107
208
209
Tra-nfpoitingofAccountsintheLeagerfromone
Leafe««/<;another.
Phi!.WhataretheMotives?
Sch.Theymaybefn'c-,theone,whentheLeavesoftheLeagerarefullwrittenin
theDebitor, orCreditorfide,orboth.Theother,becaufe tlieformtraccountsare
fothatuponfootofthataccount,generallythereremainetliaremalnerdue
fromme
•,andwewillhavetheaccouncbegumieagainuponaNew
concluded,
tome,or
Leafe.
Phil.Isthisall-i
Seh.Hereinagainistobeobferved ,whetherthofeaccouhtsthataretobeTran-
fpotted,ht
Com?wdiiiei-accounts, whichinNewleavesaretobecontinued asupoa
theformer:or,whethertheyareSfjips-fa-ns^Houics, Rents,Lands,Intcrefts,Infuran-
cesFactor-Accounts
,orthelike :otwhich(forthattime)wemakenoeflimaiionof
Efiate,butonelyatranfportforTradingsfurthercontinuance, untillaGcnerallBallance
bemade.
ph:l.HowmuftCommodities-reckonings fitlybetranfportedjtomaketrue^omnd^
parcellsofthem t
Sch.1tialltranfports(ifpoiTible)muftheedfullybeheeded,thatnotanyparcel!bepo-
ftedwithBlirJc-jiimmcs^ orBiancks,asfemetearmethem:thatis,NotwithoutMonj-
fummes.ManyintheirBookstranfportwithBlankcsintheirLeager,yethaveMonyto
tranfport, iftheyhadAntocarrythemhandfomclyforwards ;towhichendobfervethe
enfoingDocuments.
SuppofetheWareswereCambrix-cloth, andthe\vho\GDebitor-fidecontamed400.
Peeces,whichcoft7(55.r.8.6. andthatthewholefaleinthe Creditor-fidewereayS.Pec-
ceS",producinginmony789.1'.10.6.Nota,thefecannotbefubftradedfromeachother
tomakeJouinallparcells,butintheonewillbeWareswithout_Mony
5andintheother
MonywithoutWares :whichkindofTranfportsareveryabfurd,thoughufedby
many.
TheirformeUasthiiJnflmce.
Debitor.
2June,coftofPeeces.400,7
7^
Auguft,carriedtonewac-
j
count. 9
Peeces40o.789.1*.10.
7558-
I
242
Creditor,
3July,falesofPeeces.378.
7Auguffjcarried tonewac-
count. 122
Peeces400.789.X.10.
78910
1r
Toavoidtheabove-entredabfurdityofWaresinoneJournallparcell,butnoMort);and
ii/ij;?;intheotherJournallparcell,butwWares:enterastheenfuingJournallinflance
inftanceth.
Cambrix-clothupon/tf/«30.DebitortoCambrix-clothuponfolio12.76j.F.8.6.for
theprefentcoflsof40o.Peeces,beingthewholeDebitor-fide,inWares,andMonyfoe
wantofplacetranfportedtoanewleafe,theraonyis76s.\'.S,s.
Andthen
Cambrix-clothupon/o//'<»12.DebitortoCambrix-clothupon/<;/«30.789.f.10,g.
iforthefalesof278.Peeces,beingthewholeCreditor-fide,inWares,andMony,tran-
fportedforwantOfplacetoanewleafe,themonybeing 789.1'.10.g.
ThusoughteachJournallparcellinWarestranfportingtrulytobeJournalized
,
thentheLeagerwillftandasthisenfuinginftanceinffanceth.
/*/,13.
164

173. 210
all
JnInttoduBiontoMerchantsJccompu,
45
\Foil2.
Dihitor.
2Jane,
coftsofPeeces.400.
Au^'uft
,carriedtonewac-
coutttPeeces,
^
—278
Peeces678.1554.
1'.18.0.
77^5
3078910—
12.Creditor,
—.78910July,faksofPeeces.278
.
-
AuguftjCarricdtonewac- 1
count. 40030765I.8
Pecces.678.i554.l'. 18.6. I
ai2
aij
Andfol*»30.n^'^'fi^^d
7.Aug.coftsofPeeceS40o.765.r.8.6.
"y.Aug.falesofPeeces278.789.l'.io.§.
HereyoufeetheLeagerftandagainasformerly itdid,tobecontinuedinwriting,as
before
:hereyonfeeeachJournallparcellcorapleatelyearned
:andthusoughtFaftor-ac-
countstobecrolTed
••Forrain-mony,underForrain-mony, asherePeecesunderPeeces
:
andlnlndilvmonyunderInlandillvmony, asbeforeisinftanced. i^./.,Dotheikem
Houfe IandsRents,Legacies,Interefts,Ships-parts,InfurancesandtheUke
••becaufe
SrpScipall(byDeduaion)aiouldnot
beDiminifned untillthefinallfiniav.ngotthofe
accounts,
PhilIsthisanufuallcourfeinthetransportingofallkindsofacecunts?
<:ch'no:Inyour.GenerallaccountswithCommon-trading-people, asalfoinO//,,
Bank,Stock,ProfitandLoflTe,ortheUke:dedufttheLc([erfromtheGreater,andmakea
Journall
parcellforthedifference,asthus
:
IftheDebitor-fideofanyoftheabove-namedaccounts(whicharc
tobetranfportedXbeheavieft,
thenforthedifferertcemakethe
Ue't^accountDebitortotheold
IftheCrfi/'<'''-j?^^beheavieft, thenforthedifferenceoi^ayoithofeac-
counts,makethe
oldaccountDehitortothe^euf.
PM.WhatObfervationsarifefromhence^
^
.. ,
Sch.Henceisitraanifea,thatintheLeageroughttobeneitherDf^//.r,norCredttorM^
iuchashavetheir
Orlginallfromthejournall,
wholeproperOfficeitis,toexplainwhythe(»«fr^-i»,or//;/«^isIndebteduntotheot*ier,.
TshereafterintheExplicationoftheJournallOffice(hallappearmthe244.place:andfo
IendwiththeThirdGroundmatter,oiwhichtheJournallismade.
Phil.ExplicatethifourthGround-r»atter,ofwhichtheJournallismade.
Sch.ThefourthMemberofthe9.
place,faith,that itproceedethfromthe
Eqtidi:(i»g, or,eVen-nukingof
oyer,or,under'tniaftires^
Weight,
Leackage ,Pounds,Ells,
orthelike.
p)&»7.InftancefomemattersinProf
(fr-dfffl«»f/.
. .
^.tWhenwefindanyu-nder-me^^rc inCorn,orZ..t.?nnWine,or5/W
m
Len-ththenenter,Vxo?^tandLofTeDebitortothemnting-mmers ratingitasyoupleafe
-
forthatratingneitheraugmentetb,nor
diminill^ethyourEftate
.butisonelydoneforde-
centnel,tohVmonyrntheDebit,andCreditoffuchJournallparceU:.
^^.^^
165

174. A(S yfnIntYoduBiontoMerchantsAccomps,
ai4
215
116
217
118
MP
Phil.RehearfefomeinftancesinJd^cM^f-accounts.
Sch.IfinweightIfindinanycommodity lefTebyfalcs,beciufeofdrinefs,orthelike
•
t»t(r,JohnKnollhisaccountCunantjDebitor toJohnKnoilhisaccountofSaffron:ratin"
themasbefore,toWingthemintothe/n<fformoiDebitorandC^A//(or ,inJournalland
Leager.HencemayeafilybegatheredhowtodealinCompany-accounts;whichInow
pad'e,andfoproceedtothenextmatterinorder.
Phil.WhencearifeththeFiftGround-matter^thatmakethaMembero£theJourr
nallr
Sch.Inthep.placeitisfaidtoarifefromthe
Ledgers-Conclujion^ orBdUanc'mgofthe
Leager.
Phil.WhatCauiesmaymoveamantoaGenerallBallancei
Sch.Thefamema^ybeeitherofthefethiee
.•
1.WhentheJournall,andLeagerare'fullwritten;^—. .p,
fothattheremuftbeNew-Books
:-
'
r
ThenisaBal-
2
.
WhenaMerchantceofethfiomTiading
:
^J?"<^^
^^^^^
?.Whenthebook-Ownerdeparteththisworld:
j|
Phil.WhatunderftandyoubythewordBallance?
Sch,ByBallance\under/land,A»Ec^nall-makinginEquivalentmanmralltheOpert-
JlandingLeager-accottnts ^trsinCponlngail thofeOpen-{landingLeagerdifferencesunder
OnelaftframedaccountsTitle,whofenameGenerallywecallBallance:forbeingthat
thataccountincltidefhalltheLeagersremainingdifferences
jfoitconcludethwithOnefole«.
lyitfelf.Ncta.^thewordBallancefeemethtobeborrowedfromapairofScales :foras
trueScalesoughtneithertobeheavierthenotherjfoatruetakedGenerallBallanceought
nottodiffertheleaftnamingvalue :fortheGenerallDebitorandCreditorrnufljuftly
counter-poizeeachotherineven-moniesnominatioa^ elfe,theBtioltisoutoffqoare;the
fumraesilltaken,oramiffeadded.InplaceoftheviotdBallance^1fhouldratherenter
Eftatereckoning :forbydrawingthewholeBooktoahead,IdrawwithOneanaccoiint
ofmyEliate.SimonStevininhisPrincelyBook-keeping,carrielhtheLeagersdifferenceat
theYearsend,untoihtfirjlhegunStockyvhenheteganhisBooks:buthecootradi(5i:eth
himfelf.Forh?beganwelltheFirfidayofJanuary,inmakingallthatowedtohimDf^/-
^tfwtoStock-,andStockZ>f^//tfrtotheptiwhowereDebt-demavders: butathisL'e^grs
concluding^the31.ofDecember,heentrethStockDebitortohisDebitors
5andheentreth
hisDebtdemanders,asAugmentorsofhisStock.Suchentrancesmadebyhimarebuta
miflakeonelj
•,inmetheyweremeerAbfurdities.'
Ballance iseitheratrialkorTrM^hdlancet
OftheTryall-ballance.
Phil.RelatethemannerofmakingaTryall-ballance."
Sch.AddtheDebitorfu'mmesofalltheLeagerUn-equallopen-fiandiiig-all(0Hnti
uponaPapertogether,or'inaBooktheretoprepared: thert
^addalltheCreditoc
parcelsinthewholeLeagertogetherbythemfelves-,becaufetheUniformiijoftheGemrall
Additionsfhouldbemanifefted; iftheybetoeachotherequivalent, then(ifno
wholeparcellbeleftout)arethejoyxxn^Xymonjparcells tmt\ytranfportedintotheLea*
ger.
Thil,WhatmoreistobefaidoftheTryall-ballance.
.
Sch.TheTrfall'hsllame isoitpoforts
.•ThefiiftisaSurvay(asabove)oftheLwger
accounts,
166

175. //;IntroduWiontoMerchantsAccompts,
4.7
220
3il
aJ.2
"S
eccoiints{ofoonasalltheparccllsarctranrportedoutofthe}Vafle-l>ookintothe'Journall,
antffrom'thenceintotheLeager :Neta,beforeanyunfoldwxra,orGAm,andLo^eofany
accountsbemeddledwith.Offuchmatteristhefiifthi\hnc&oii\ie three-fold-monj-hal.
/rf««inmyGreatWafte-Book, printed1621.atAmfterdaminEngli(h,andDutch?and
fhftUbeinthisBook.
^
PbilInftancethefecondfort.
^ ,. /,,
Sch
'
ThefecondfortoftheTryall-halLvice isfeen^whenallunjouldWareSyZndOut-hnd-
tlhmo'nits.arerated
••
allAUtemnts,z<.likewifeGainesorLo(jesareknown.Offuchmatter
•sthefecondThree-double-menf-balUnce inmyGreatWaflc-Book
jand(hallbeinthis.In
Ihis(ccondballanceisalfocomptifedtheparcellsappertainingtothetrueballancc
:*//f,thac
fecondbalUncecouldnotbeeven-weighty.
OftheTrue-hallance.
Phil,Proceedtothefame.
Sch.The
tmc-hMlancearifethfromtheRemainersofLeageraccounts ;aswellinMenjy
UnfoldWares,ffl^-J^ifniotwhollyfold,Houf'^,Lands,People,(jrcnotyetcompleatly
perfeded
:andarethereforetranfported totheNew-Books',tobetherefullyfinifhed
:
Leavin°the
old-Bookstotheirperpetuall reft,exceptfomeScrupulommattermoleft
themOffuchmatteristheThirdballanceoftheThree-douhle-mny-ballance inmyGreat
Wafte-Book,andfhallbein.this.
OhferVations inhdlitncingof
the
Leager.
ButforaPt'eparati\/e, firH»o/Mhatw^»astheMonies,Wares,Voyages,Houfes,
Landsandpeoplewereintheiraccounts(whetherDebitors,orCreditors)evenfomuft
theyft'andinyourBallance:.andfoofeachothermatter.Reafon,forBallancerepre-
fentethinthatonelyaccoant,all thattheotherreprefentthroughthevyholeBook :forif
theywereDebitors,BallanceisaDebitorintheirplace:iftheywereCreditors,Ballance
ishkewifcaCreditor.
f^/.Goforwardsinthismatter.
,„ . , .,„.
•
i,
Sch.ThereoughttobeobfervedADecentOrdermLeagersballancmg
••thatts,Whicft
accountought/fr/?tobeconcluded,andwhichlaftjbothinDehiter-zad Creditorlidt:
thisisnotofNeceflity,butfarDecentneffeinOrder*
Phil.ProfecuteyoaropinionintheOrder.
Sch.Firft,ballancetheaccountsofthePeopleofwhomyoabonghc:ortowhom
youfould:Rearon:becaufeallDifcoants,Abatements, Mif-caftings,6rOmifllons that
havehappened,'mayberedified
:totheend-eachaccountmaybearitsownburthen
:
take
thenthedifferenceofeachmansaccount(beingfoundtoagree).andenterthemintoyour
E-jAlance-Book(asinthe218.placeismentioned)untillthefinallBallancebefoundeven-
weighty.
224.
ras
Phil.Whichnext?
,,fc
Sch.Secondly,ballancethePeoplesaccountswithwhomyouhadtodealtorfcx-
changes,Affignations,orthehke
:entringthedifferencesintoyourBallance-Bookthere-
untoprepared,
Phil.Whatfolloweth
'.
Sch.Tlurdly,ballanceyourFa/Jorsaccounts :firftforPrsper,andthenforC^wf-<«/,
,(h-oxthereishoneceiVityinthisOrder;asitfaid)theRemainersbeingwellfound
,y
our
167

176. 50 AnIntroduBiontoMercha?usJccompts,
435
ill
^39
240
4-VOYAGE.
Debitor.
For100.PiecesofCambrix
fliiptat3.r.eachPiece,is -300.I'.-
Creditor.
ForSalesofSo. Pieccs,ac
2.l'.i6,S.is
224M'.-
Unfold,20.Pieces,at
3.1'.
fc>Piece,
60X.-
LoftbySales,
i6.l'.--
Siimme—300.1'.
Phil.GoforwardintheorderofyourLeagersBallancing.
Sch.YikUy^hdWdinctyowx Commodities-acceunts
-,firftforProper:then,hxComfanj.
Thil.Suppofetheraallfold •,andthereisGaines.
Sch,ThefirftVoyageisaPrefident.
thil.SuppofeyourCommoditiestobef&ldinpart.
Sch.ThefecondVoyageisanInlbnce.
Fhtl.SuppofethatnoneofyourCommoditiesarefold,
Sch.ThethirdVoyageHievveththeform.
Phil.SuppofelofTeupontheSaleofpartofyourCommodities,oruponthewhole.
Sch.ItlodeuponpartSales,theFourthVoyageisanInftance
••
IfloiTeupontheSaleof
awholeparcell :See
THEFORME.
Debitor.
Fori^.ButisofSackcoft
withcharges.
-134.r.8.
Creditor,
ForSaleof16.Butts,at
8.f.6.is
LoftbytheSale- -i.r.12
Summci34.i'.8.
tinderthsnameo^Commoditiesinthefecondbranchofthe10.place,isincluded//<?«/«,
Lends,Ships-farts •,uponwhichifyoawillfeetheyearlyGain,orLofle,thenratetheni
as'theycoft-,entringtheminCreditasinthefecondVoyage: thefi,inyourHonfe,and
LandwillappearwhatisgainedbytheRents,abovereparation,andmaintainingofthem
;
andinyourShipspartswillbemadeplainwhatisadvancedbytheirVoyages,morethen
herviiftualling: carryingyourProperGainsorLofs,toProfitandLofsproper •,andCom-
paniesGain,orLofs,toProfitandLofsinCompany.Butifyouwillletthemrunonun-
tiUtliefinallendingofthem -,thencrofsthem,asisihewedinthefecondInftanceof
Cambrix-dotb, inthe2op.place.
Phil.WhatfollowethnextintheBallan^eorder-f
Sch.Sixthly,ballanceyourCompanyProfitandLofs,impartingtoeachPartnerbisdue
uponfitaccount:;andyourpartuponProfitandLofsproper.
Seventhly,ballanceyourPartnersaccount,tranfpeiting thedifferenceuntoyourBal-
lance-book(asinthe218.placeismentioned)untillthefinallballancebefoundEaven-
weighty.
Eighthly,ballanceCafb.andBank.carrying theirdifferencestoyourBallance-boolf.
Ninthly,concludeyourProfitandLofsproper,carryingthedifferencetoyourStock-
account.
Tenthly,concludeyourStpck-accounc ,tranfponmg thatdifference (ifvhich istVic
fumme
168

177. 241
/«IntroduBiontoMerchantsAccompts.
51
fumraeofyourEftatc)UQto yourBallance-book: theaoughcyourBallanceaccoilntto
beequall-weighty.
NOTA,
26ii
HavingdrawnallyourLeagertoaheadinyourBillance-Book,andfoundittoberight
taken:tbenmayyoutakeyourJournallinhand,andpoftthemastheyinorderfollow
uponyourBallance-book,untoyourBallance-account intheLeager.
OrifyouwillnotmakeaBallance-account inyourLeager,youmayletyourBallance-
bookbeyourprivatecontentment
$andtrarifporteachBallance-parcelloutoftheOld
LeagerintotheNew^avoidingyourBallance-writingintotheJournall,bothattheEnd
oftheOldLeager,orbeginningoftheNew.-entringintotheOldLeagerihe/tf/»<7whi-
thercarriedintotheNew-,andintheNewLeagerthe/f/i/fromwhencethatremaineris
broughtoutoftheOldLeager,andfoavoid(perhaps)thewritingoftwoorthreehun-
dredJournall-parcelsinbothLeagers.
^artkuUrOhferVathuuponeachfideofthetrue-ballanceInDebit,
andCredit,fort/jcMemoriesrefrefl)ing.
T^/V.RehearfefirfttheObfervationsthatarifeupontheDebitor-ftdeQiCa&Truc-bal-
lance.
if^Jnamuch-Trafficking-Merchants-Booksarefivethingstoberegarded
:
rP(fe;/e—untowhomwefold,orthathavepromifeduspaymentofEx-
Firftly.ofDe-
'
changes,orAflignations,andthelike.
iito'rs,and<
^^'''"^'''-^^^owhomwehavedeliveredMonyorWares,tobeby
themin
'
^^^^"^imployedfortheCompaniesgood.
I/"^KJ/flw—thatferveusinCommiffion,— Cvvhoasyethavenotgiven
K^Maften-vjhomweferveinCommif-^usfullfatisfaftion :Again,
non,
(^thefirftofthefetwomay
arifefromProper,Fadorage,orCompany-
accounts.
i'fiT^wi/;,oftheUnfoldWares,formerlyfliipttoanotherTown,orLand,theretobe
foldforPrefer,Fa£iorage,orComfAny^acaiqa
.
Thirdly,ofMattersasyetremainingUnfoldunderourownAdminiftration: coniiftinga-
gajninWares
^H0ufes,Lands,^emls,Shifs-fayts,zud thelike
.•whereoffomeofthofeWares
m2yhehrProper,Faiforage^otCompany-acceunts :andthofeShips-fartsforProper,of
Company-accounts.
Fourthly,oftheReady-mony inCa{h,inBank,orinboth.
Laflly,ofCompanyGain,andLolTe
^ofthewhichweflillkeepanopen-ftanding-ac-
Gount,becaufetheCompanycontinuethinTrading,uponunchangeableterms.Andthefe
infubftanceareailthatconcerntheContentsofBallances-Debitor-fide.
Phtt.ProceedtotheobfervationsintheCreditor-fideoftheTruehaUarice.
Sch.Fourthingsareheedfullytoberegarded.
r/w/Ztf-ofwhom\vebought,asalfo,whofeExchangesweaccep-
I ted
;orwhofeAffignmcntswepromifeduntotheirCrc-
I
ditor,havingentredtheirQeditorintomybookinplace
Firflly, 1 ofthem.
^
Btbt-demandtrt',
«|P4r/»m—ofwhomwehavereceivedMony.orWares,toim-
andthemin ployforCompany-account,Unto whom(asyet)we
Mdjlers-vihomweferveinCommif-^havenotgivenfull(-on-
j
fion,
Stent :Thelaftofthefe
'l^/-f(7w;-thatferveusmCommiffion,?mayarife,eitherfrom
Prefer,Factorage,orCOmfany-acciunts,
Ha stcor)di)y
169

178. 51 /inIntrocfudtontoMcTchans/Iconipts.
Scccndl)^Unfold-{^'^ra,Houfes,Landsyletvds^Rents,Foya^es,andthelike
••uponwhich
accountstheGiinsoj.Lor'S (atprefenc)isnotdeliredtobekflown
;butaredeferreduntill
thefinallfintfj^ingotthatsfcounc,tVientoknowtheGeneral!Gam^orLefsuponthefame:
andthefeforProper,fomeforFacieiage,andfomeforCompanyaccomxs.
Thirdly,inConpaniesProfitandLofsReckomngs, becaufethedivificn isnormadein
thefeOld-books,butprofecuteduntilltheCompanies finallfinilTiing.
Laft'lj,inStock-accoHTit,whofedifferencemuftbecarriedtoBallance •,forthatdifference
muftmakeycurBallance-accountEaven-weightyintheGenerallAddition :Nota,forinitis
containedthetraedifferencebetweentheReady-meny.Wares,Houfis,&e.Debitorsinyour
Ballancedebit-fide, andtheDek-demanders intheCreditorfideofyourBallance-ac-
counc.Ormoreplain5takethewholeDebit-fideofyomBallance,dedudfromthatall
thatyouowe:andthedifferingmonywillbeEquall-neighty, withthedifferencebrought
fromyourStockaccount.Andthusmuchofthefifthmatter,ofwhichtheJournalismade,
J43
244
HS
OftheJournallsForm.
'7'/;//.Thisisthe/fftf^/Z^r^wt^intheEightplace:ofwhichletrae"heareyourExplica
tion.
Jf/^Thei='tfr/»isgenerallyinfolio,orthefullbignefsofthePaper,beitfmall,orlarge:
Ruledtowardsthe/f/z-Z^^w^withw;f//«f,andtowardsthertght-hindmi\xthree:entring
betweenthemI'.6.fi.asintheWafte-book is,andintheJournalsInftancesfha'.lbemade
plain.
Someufetwolinestowardstheleft-hand, asdothSimonStevininhisPrincely-hook-
keeping-loiirnailufetee: entringthereintheDay,andMontth:butthatmakeththe
Journallbetweenline,andline,toonarrow.Mymannerofmyday,andMtnethsentran-
cesfliallbefliewedintheExplicationoftheJournalsOffice.
ThisBookisby/owfnumbredoneach leaves-fide:thebeginning-fidewitlii.thefe-
condTvith2.andfothroughalltheBook :ofwhichIapprove,andufeit.ForinaGreat-
trafficking-book(asanEafi,We(i^Turky,orthelikeCompany) feverallfidesareoft-
timesfilledinoneday
.•fothattheMarginoftheLeagerqxiotethdire^lytothefideof
thatJournall-leaf,wherethedcfiredparcel]is:andfoavoideththeperufallofncedleffe
fides.
'
OftheJournallsOffice.
Phil.Letmeknowthat:forthatisthethirdNotablemattermentionedintheEighth
place.
Sch.TheJournallsProper
officeis,tohavetheMatterCthereuntoappertaining) entred
inBook-keepingstruemethod,withmrdsfuitablctotheABioti -,plainlyexpreffingwhat
everwasobfcurelybookedinotherbooks.
Book-keepings office
is,tohodkt);\QSi^tdmztizx inthetrueNOmimtienoi Debitorand
Creditor,withthebrief^ynplainjCircumftancesoftheA(aion.HeedfuUyinthisJour-
nallmuftbeobferved,thattheDebitor,thatis,theM*n,otThing,thatoughttobecharged,
befirftnamed,andplacedtowardstheleft-hand,asthus'.-
lamesMirthisDebitor.
ThenentertheCreditor,Man,orThing,thatbughttobedifcharged,asthus
UmesMirthisDehlior tolohnMelody.
UntothemannexthequantityofMony,asthus
:
UmesMirthisDebitortoFohnMelody3oo.l'.12.0.8.tj.
There-unioaddcthereafonwhytheOneMan,orThingisindebtedtotheother;and
thisisgatheredfromtheadedmatter.
Phil.Ashow
:
Sch'.ComparetheWaftebookparcelsinth'e6.place,withtheenfuingJournallparcels
framedoutofthem,andtheReafonsmayappearbytheCircumftances.
~A»n»
170

179. 54" ^nIntroduBiontoMerchantsJccompts,
I
DftoISDebitortoBank569.f.13.10,tfi.writtenbyhisorderuponthelil
(6
.5_
Iaccountoi^oha^ohnfenytnck^beingthefullofthebefore-mentionedex-
^change-,thefummewrittenin,is
S-
36PIJIOi
5_
T
24<5
D//0isDebitortoProfitandLofs3.I'.14.8.15.forBank-raonyof$1
2»40.11.4.pen.atonefcrcentum^is
*47
248
£^m4r^£)(?»«ofNorthampton,^/^ accountbymeinCompany, isDebi-
tortoDitoEdrvardhisaccountofReadj-monj^213.1'.—
5Jfi.forhis
5*^
ofgl
3834.8.i2,pen.produftof18.Laft,7.MuddeofCompanyRye,foldto
lacohJohnfo^iri^above;fthereof is^ —
.3
14'.8
213
24P
550
Phil.WhatfignifiethofeFradions
if,,andthelike>intheMargine^
Scfj.Fradlionstheyarenone :butfignifying-figuresconcerningtheLeager :fortheFi-
guresabovetheftroke,fhewuponwhatLeager-LeafetheDebitoi-saretobefound;and
theFiguresundertheftroke,pointuntotheCreditorsinthefaidLeager.
Phil.Whyarefomepointed,andnototherfome1
Sch.Thofethatarepointed,aretranfportedintotheLeager,theothernot.
Thil.Somedonotpointatall.
Sch.Theyarefubjefttomiflake,ortheyrauftentereachfigureabove>andunder,when
theyhaveentredtheparcellintotheirLeager,andthatistedious.Thepoint'sareveryre-
quifitctoavoidOmidionSjOrnottochargeonefummetwice,ifamanfhouldbecalled
fromhisporting.
Fhtl.Whendoyouenterthefiguresabove,orundertheftrokei
Sch.IlaytheJournallopenbeforeme,makingfirfttheftraightftrokesthatarebetweeo
thefigures.againfteachparcell,onbothfidesoftheJournall
:thendoIenterthefolio,or
leaves,orthofefigures,beforeItouchtheLeager.
Phil.Howthen1
Sch.ThenfettingmyJournallteforcme,ItranfportalltheDebitorsandCreditorsCthat
correfpondupononeLeager-leafe)oneafteranotherintotheLeager
5thenremovingmy
handfromtheLeager,imTiiediateIy IfetpointbythatDebitor,orCreditor,thatispofted
intotheLeager,withoutremovingofmyJournall,
Thusmuchinbriefof
theMatter^Form,and
officeofthe
Journallmentionedintheninth^lace.
171

180. 12
10.
21
10.
4
3
.
8.
S .
Jmo
]6i^*
the7.dayoffmeinLondorio(i;
fentpaymentforCompany-ufe,being-
11"].ThomasTruBatAntwerpforcompanyofRandallRice
f
,and
fforme,ouraccountofTime,debitortoVoyagetoAntwerp,con-
fignedtoditoThomasforourccmpaov
;
,andjI',15
15.7.s.for
theenfuingWaresfoldbyhira:theparticularsare,viz.
8.BalesofPepper,producingclearR.eady-mony,
asbytheaccount 01.2753.9.4.
30.ButtsofSsvidttolaquesGcrritfer,-,partat
2.moneths,producing(whereof7isreceived)
asbytheaccount,clearmony -gl.12400.
5I.i5i53.P'4'pen.reducedat10.gtor33.6.4.8.are-
118.DitoThomasforourcompany,asabovcouraccountofRea-
dy-mony,debitortothefaidThomasforcompanyR.R,^,and7me
ouraccountofTimeT.1102.—4.55.forQl.i1020.3.9.pen.byhim
rec-'ivedofthebeforeentredmony,ishere—— —
Thei^.dayofJune.1634.
119.DebitorstolacohSjmonfo/ihisaccountofCarabrix-doth,
1.405.fordo.Piecesfoldjoyntlytotheenfuingparties,at6f.
15.0.uponanequall(hare,314.monethstime,viz^
J-amtsWflkJnfon20.Pieces l'«i35'
GeorgeFinchhack20,Pieces ^•I35«
AitdrsrvHitchcock2o.Piece$-
TheRuleinthe244.place
iscontra-di^ied.
-r.isJ.
no,^acehSjmorifonhisaccountofCambrix-cloth,debitorto
Ca(hl'.i.7.S.forBrokageof^.405.at
7fercentum,is—
izi.DitotoProfitandLofsf.S.i2.6.fortheenfuingparticu-
lars,viz.
ForWare-houfe-room zti.'t'ferPieceI',—10.
7
' "—
1'.8.2.5'
ForProvifionofSalesatz.fcrC.-
_6.
13
122.Ditoto^acobsjmonfonhisaccountCurrantT.390.14.0.for
theneatproceedmadegoodthere,withoutmyprejudiceofdebts,
yet{landingoutupon4.monethstime:thefumnowtranfported.is
123.^eandaBopforcompanyRmdellRice
f,
and
f
forme,our
accountCurrant,debitortoThomasTruflforditocompany
f
,and
fouraccountofReady-mony l'.io92.i7.io .$,forgl.II02o.re-
mittedinhisownBills,datedtheir2.prefent,.-payableby,andun-
tohimfelf,exchangeat121.8.are
^^
.3642.58.6.8,andhereat
72.$ —
The2^.dayoflime1624.
124.RandollRicehisaccountCurrant, debitortoDiego
ddFarmhisaccountofFruitsI'.541.4«S,9«fi-forfeveralj
M forts
31
145
S
II—
1515
II<52 -4
405-
.1.
.8.12-1
39014
.
10921710
172

181. 10,
10.
13'
J3
I.
I.
'13
188.DitoCtmfa»jtheiraccountofTime,debitorto
BalUnce
ll^i'i^.S.S.duetotheraforconcludeofthisaccaunt,being
Jnno
\6i^^
the10dayoffulyinLondon,(ip
185.Raindo'dRicthisaccountbymeincompanydebitortoBal-
lanceI.9PI.7.6.5.forfomuchduetohimuponthisaccount
iS5.HertdrickvanderLindeni,^obnvanDdts
^,
^tquesReinjlt,
theiraccountbfcomtitoditics,debitorto;BalUncel,i94'^^*^'6*
for160,PiecesofFigs,and4.BalesofPepperfold,beingthe
wholeWaresin'Credit,tranfport^thustohavetheaccountcom-
pleatinne\vbooks,asithereftandeth :themonyis
187.bitoCompanjtheiraccountofReady-monydebitortoBal-
/4;7«197,7.7.^forconcludeduetothem
i2p.SaHancedebitortoCaflTr,947.2.i.$. andisforfomuchby
conduderemainingtherein,andtranfported,being
190.ProfitandLofidebitortoStockl'.io46.8.io.6.forgaines
inthishandle,tranfportedtoconcludethisaccount,being
191.SrofitdebitortoBallancel'.2902.i2.7.$. forthedifference
ofthataccount,beingmyprefentEftate5andtranfportedthither
tacondudethis,being ^
End
of
thefoUrnaU
A.
%
991
Sifl
.6
19412
99
9319
.i
P47
1046
2p0212
.8
.i
10
.7
173

182. OF
THELEAGER.
Aving(informasisinftanced)entredallthetrading-parcelsof
MerchandizingintotheJournal!infuchafter-Followingman-
neras(heydailyhappened
j
thenhaththe'Bookowfurhis
wholeTrading,withalltheCircumftances inwriting!but
notinfuchfort,thathe ,isabletoconferwithanymanabout
his'accounts
:foreachmansfevcrallParcelsarcdifperfedthrough thewhole
Journall
;neitherdothic(indrawinganaccounttoaHeaduponaPaper)
contentthemind,fearingthatanyParcelsmightbemiftakenoromitted.
UponthelikeReafonwemayconjecturetheObfcurityinknowingwhat
monyisinCafh,whatweight,meafurCjandqiiantity ofanyCommodity
mightbeintheWarehoufe ;whatProfitorLoffethereisuponanyfortof
Wares,orMatter,-whatWeekly,orMoncthlydebtsarctobereceived^orpayd
forWares,orExchanges:andmanyfuchlike.
Fortheavoydingofallfuchdiffidences,, theJournallParcelsmudbe
tranfporcedintot Leager infuchmanner,thatallwhatdothconcernone
mansparticular,muft(underoneaccountsTitle)begatheredtogether,towif,
all\\sT>chit parcelsupontheLeft-hand 5andailhisCr^tiJtparcelsuponthe
Righr-handoftheOpoilyingLeager
.^ofthewhichmanyinftancesfollowin
theLeager :thelikemannermuftbeuQdineachfort,asMonj,Wares^Teople^
orwhateverelfe,eachmuftbegatheredtogetherinanExquifiteform,with
fewwords.
Thethingcharged ,orDehitor,mufthaveitsdilcharge,orCreditor
^
evenoppoficeagainft itfelfewhentheLeagerliethopen.InthisLeager,
wherefo/.ftandethbetweenthelinesbeforetheL,bothupontheRighc
andLeft-hand,aremanyArithmetical Chara(f;ters.TheCharaiter,Cha-
radlers orFiguresthatftandbetweenthetwolinesupontheDebitor
fide,point(aswithafinger)untotheFoliowhereeachfevcralllinesCre-
(literftandethinthefaidBook,vthether icbeuponthefameLeafe
,or
elfewhere :Contrarily, theFiguresthatftandbetween thetwolines
upontheCreditorSidcypointattheFoliowhereeachfevcrall lines
^Debitw
174

183. OftheLeager.
DehtorftandethinthefaidBook,whetheruponthefameLeafcorelfc-
where.
InBrtef^
TheOwner,ortheOwingthing,
Orrvhat-fo-evcr(omestothee
•
UfontheLeft-handfeethoubring
5
Fortherethefamemttji
f
lacedbe.
But
the
J
untowhomthoudoeflowe^
UpontheRightletthembefet;
Orrvhat-fo-eredothfromtheego>
Toplacethemtheredonetforget*
This
BookfiiewethourtrtieE^ateineachparticularaccount
;whetherBou^ht^
Sold,Sent,orReceived,Commodity: Peoplewith-in,orwithoutthe
Ltnd
;Exchangeswhichway-fo-ever ,andtheCoynesofthefefeve-
rallplaces ;fa^ofa^e
,Coml>any
^orwhataccountelfebelongethtoTrafjick:
SothattheLeaderisthcMirrmbywhichonelytheEftatccantrulj,aad
/)/4i«/)ibedifcerned.
Ot
175

184. 1^54.
o
5
9
10
12
1^54.
-
1
8
22
14
14
14J
2
I6'll
3d^20
1620
Foil.) /««oi^;;.inLondon,
CafhisDebitor.
Janu.ToStock,forfeverallcoynesofmony —
Felir.ToUcol>SjmonfenhisaccountCurrant——
AprilToGeorgePinchhack,receivedinfull; —
MayToFigst-K.ii.tforme
DitotoUmesWUkinfort^ receivedtoclearatruck
JuneToDiegodelrarifiohisaccountofCa(h —
DitoToProfitandLoffe,gainedbyDiego'sfruits
JulyToGeergePincbackreceivedbyhisAffignment
—
DitoTo
liicobSjmonfonhisaccountCurraint-——
DitoToRandalli^cehisaccountCurrant —
DitoToAndrewHitchcockreceivedinpart
—
—
Summe
—
Fol s
.I
2
3
9
4
12
7
3
2
6
II
IL
1000
.328
..9
5»5
102
.25
.13
4^5
.28
284
100
iPo3
15
10
II
10.
•4
.&.
.I
16
•7
II
I
7
5
7
8
13
I
ip
I
20
StockisDebitor.
Jana.TolacobSjmonfonhisaccountCarrant
—
JulyToBdlmce^forconcludecarriedthither—
Sdmme—
1^33- .1
.I
20
WdresareDebitors.
Jana.ToStock,reftingunfold
—
JulyToProfitandLoflegained
Samme—
nla
60^0
90
-2
13
150
2902
3052
12
.1
7
477
92
10-
10-
IL570
176

185. 1^54.
j6^^.
'^34.
1533.
Dy
4
9
30
•P
21
13
6,22
6|-
6,29
7
10
12
-7
12.
7
12.
7
I3|i5
IP20
19
20
>3
21
yf««oi<5^5«inLondon, Fol.1
Ci//?isCreditor.
Janu.ByGeorgePinchhack^paidinpart-
DiroBy^amesWilkinfen^paidin^part—
DitoByGeorgePinchbeck,paidhim-
Febr.Bylac.Symo^ifon.hisaccountofCouch3neille,payd
DitobyvoyagetoLisborn.configned toDfcgoddf-'d«-
wforcompany},andtpaid
—
—
MarchbyDanfick-exchange forArthurMump,andme
I
DicoByKerfiesinCompanyjlacobSjr»o»forty7forme
DitoByUcebSymenfonhisCambrixcloth
—
—
DitoBylacehSjmonfonhisaccountCurrant
—
—
DitoByFigsincompany
tR.R.
ffornie
—
DitoByHcndrickvandcrLinden,andCompanytheirac-
countofcommodities,forcharges —
AprilBySilver,forchargesof8.Barrs —
MayByRandollTijcehisaccQuntCurrant —
DitoByAmfterdam-exchangei {oxJacobSymMffon—
JuneByDiegodelvarinohisaccountofCafli —
DitoByFigsinCompany^R.R.-,forme;
DitoByAndrewHitchtockpaidhim
DitoBylacobSymofifonhisaccomtoiCambrix-cloth--
JulyByBallaKCCiiranfportedthithertoconcludethis-
Summe
—
8
4-
8
2
9
10
10
.6
1
1
I2
•9
I
I
.8
13
StockisDebitor.
Janu.ByCafli,forfeverallcoynesofmony
—
—
DitoByWaresforfundryfortsunfold —
DitoByKettlesfor5.Barrelsunfold———
DitoByleandnBoysatRoanmyaccountCurrant—
DitoBylacobSymonfonmyaccountbyhimincompany
DitoBylacobSymonfon hisaccountofCouchaneille—
JulyByProfitandLolfcjgainedbythishandle——
Samme—
L,1
waresareCreditors.
Janua.ByKerfiesincompany,bymelaydin--..90
MarchBylacobSymtn[orf^foldtohim— —
^°
•
•
Summe—6090
%
144
120
d
13516.8
;•5.5.4
^94
200
..2.g.tf
t'
8 6
•99y9
2510
•7316
••1-7
947.2
I
.6
7
.2
2903
1000
477
•55
240
229
••
3
1046
3052
270
300
570
'3
17
8
12
.8
la
177

186. 16J4»
Day
y)
Mno
\6i\
inLondon,
3
7
17
1
8
i8
1534.17
17
23
29
20
17
20
20
20
TrcftandLojjeincompany
>.forRandollKice^znd
iforme,Debitor.
Jaou.ToProfitandLolTeforchargesofaRemife
March.ToleandaBojSyforhisProviiioo,andBrokage—
JulyToThomasTrufi^omaccountofReady-monyjloft
DitoToRM.RJce^hisaccountbyraeincomp.fot^gains
DitoToProfitandLofle,formypartgains
Summe-
TrofitofidLo^^,Debitor.
Febru.To74ff^SftnonfonmyaccountofReady-mony,
forhischarges,beingBrokage,andProvifion
-'
JulyToIac.SymonjhnmyaccountofReady-mony,loft
DitoToSilver,loftbythefaleof8.Barres.
DitoToStock,gainedbythishandle —
Summe—
-ol

187. 17
17
1?
Day
20
20
20
20
^«woi^54.»iViLondon.
f7
CoMfr<J,Creditor.
JulyByVoyagetoLisbornforditocompanygained
—
DitoBy/MWduBop^forditocompany,gained
DitoByIdcobSymonfon,torditocompany,gained
DitoByVoyagetoAntwerp,forditocompany,gained-
Summe
—
5
6
9
10
il

188. ! I
Anno\6^the23,ofOHoherinzJmJlerdam.
23
SURVEYOFTHE
General!Ballance^or
Eftate-reckoning.
Dito.ToBanck,asinfol.i.appeareth-
Dito.ToHoufeKingDavid,fol.a—
Dito.ToSufannaPeetersOrphans—
Dito.To^ackPuddingmyaccount
Currant— -—
Dito.ToWines,for15.Buttsunfold
Dito.ToFrenchAquavits,tor58.
Hogtheads——
Dito.ToRye,for-18.Laft,7.Mudde,
fol.
5
Dito.ToCoucbaneilie,asinfol.4.
^
Dito.ToBrafi!,asinfoW
Dito.Tolntereft-reckoriingjfol.—
Dito.ToProfitandLofTe,fol.
Dixo.ToVoyagetoLonaon,con(ign-
tdto^'ackPudding,io],-—
Dito.ToVoyagetoHambroughjfol.
Dito.ToVoyagetoDanfick,fol.—
Dito.ToInfurance-reckomng,tol.—
Dito*.ToCaih,asappearethinfol.—
Dito.ToCambrix, 1
1
.Peecesunfold
Dito.ToSliiptheRain-bow,fol.—
Dito.ToHansvanEjfenatHam-
brough,myaccountCurrant,fol.—
Dito.ToP/eterBra(fefiratDanfick,
myaccountCurrant,fol.——
Dito.To5''«'^P«^/»^atLondon,his
accountGurraat,fol.
Summe
(Jl.
Tliusoughtyour
accounts toftjnd
atthe fiftviewof
theBooVc5,whene-
vetythin^istian-
(fioitedoutofthe
WaftcBookintollie
Lcager.
(!!7UiI.i(li.;p.
i3688'i7'.8
.621315
I
—
.5573
11328
.1260
168
1
.6.8
.5568
-^
.287715.8
10080—
1D888L
3
.44
320
7810
2353
1967
3463
29561
8qoo
1043
2
130544.
8
Thusoughtyour
Second, orTnall-
Etilfance to(land
wiihtheLoflcs.
(5\.\il
5555
.713
2648
I250
1533
70
2600
27153
440
HLW,
2—
14
.6.8
60
53
15
II—
8-
12
4212410
Thusoughtyout
True-Bjllance to
ftand,which you
tranlpoit iotoyour
New-Books.
d^ui!.fJUp.
555-5,i
.71314
4648.6
1160—
153315
t^o'—
27153
440
8
41P04
.6
180

189. Anno1^3^.the23.ofOBoberinAmjlerdam,
SURVEYOFTHE
GeneralUBallance, or
Eflate-reckoning.
Creditor.
23Dito.ByBanck,asinfol.i.appeareth-
Dito.ByHoufeKingDavid,tol.2.—
Dito.ByStifannaPeetersOrphans—
Dito.By^ackPuddingmyaccount
Currant—
-—
-—
Dito.ByFrenchAqua-vits58.Hogf-
headsfold———
Dito.ByRye,for16.Laftfold,fol.
3
.
Dito.ByCouchaneille,asinfol.4.
-
Dito,ByBrafil,asinfol.4.——
Dito.ByIntereft-reckoning, fol.
Dito.ByProfitandLoffe,tol.
Dito.ByVoyagetoLondon,fol.—
Dito.ByVoyagetoHambrough—
Dito.ByVoyagetoDanfick,fol.—
Dito.ByIn'urance-reckoning, fol.—
Dito,ByCa(h,asappearethinfol.—
Dito.ByCambrix-Cloth, fol.
—
I
Dito.ByShiptheRain-bow,fol.—
—Dito.By//4wvrf»£/fwmyaccount-
—Dito.ByPeeterBrajfeurmyaccount-
—Dito. 'E>y^ackPuddingditLondotiyhii
accountCurrant——
Dito.ByStock,formyjuftEftate—
Thusoughtyour
accountsto(lendai
Ihcfirftvi'wofyour
Books,wheneach
parcel15tianrpoit-
<dOutoftheWaftc-
BoofcintotheJour-
nal!aadLcagcr.
Summe
q\,
(!?UiI.
8133
7538
4860
9145
6960
1788
13950
10817
102
394
8350
3816
3805
3576
2408
8105
1432
3720
3752
III. Ip.
15
.2
12
12
16
.7
.6
14
6
3
12
12
3294118
24592
13054415
Thuiou^hryour
itcond ,orTriiU-
Ballante \AHand
with(heCains.
(?5U(1.
(|i.
Thusoughtycur
True Raitinct to
Hand,Mhichyou
(rjnfpott 10Nft»-
I32S-
.465
1392
444
3906
1
58
74
3140
1463
1838
113
545
389
12
2
5
.3
13
3
12
p. (I5ml.lnf.
7
237718
8
•
I
I
P.
-
, 237718
24592--
39526.8
4212410—
419046
181

190. ^ftertoorb
^0tf)ereaber'gotnnjubgmentf)abehnnlefttt)crnanj*
comlusiiong tfjataretobebratonfromttjesereprobuctionss of
boofefeeeping'g earliestexponents.
l^fjeautfjorinnosensehtsirthtointrubetoostronglp
f)isotonibeasuponf)isreaber. 3tfjasbeeni)isintentto
s|)otoclearlpfjototf)eibeasexpressebbp^acioliintf)eearlp
Italianbernacularcamebotuntfjrougt)manptranslationsinto
(German,intoButclj,intoJfrencf)anblastlj)intoCnglisf),
toitfjstanbing allt!)emanpcfiangesoflanguage,surbibing tfje
"®arfe^ges"offjistorpanbretaininguncfjangeb tijrougf)
tfjecenturiestfteirclaritpoftfjougljtanbpurposeuntiltobaj>
tfjemobernboofefeeeperanbtljeprofessionalaccountantareto
befounbtrubgingfaitf)fullj>intfjefootstepsoftf)ejFranciscan
Jfriarofmebiebaltimes.
i^aturalprejubiceorpartialitptobjarbfjeralbingabroab
t)timprintlefthptfjeearlpauthorsoffjismotfjercountryon
JjiSotonprofession initsmafeingistobeexpectebfromtf)e
toriterasani|ollanber=bornanbfortfjisreason, ifnootijer,
fjefjasbeenbiffibenttobribefjometfteconclusions fjefjimself
tasformeb. 3tisbeboutlptobef)opebtfjattfjereaberbJill
experience tfjesamepleasureintfjereabingt^attfjeautfjor
liastafeenintfjemakingofttjiscontribution tofjisfellotos.
182

194. UniversityofCalifornia
SOUTHERNREGIONALLIBRARYFACILITY
305DeNeveDrive-ParkingLot17•Box951388
LOSANGELES,CALIFORNIA90095-1388
Returnthismaterialtothelibraryfromwhich itwasborrowed.

195. UCSOUTMERNHEGIONAlllBn«nv'^Oiin
D000570258 4

196. >iltr;i'.!!v;S»AilSSa't
'•.:.
'.
EiTTOi.,-
iiiiHiiiLltiiilll^
: ^y.'w