Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-10-06


tenn which interlocks it with the gen.
eral books Of account was completed
and offered to the craft in 1920. 1t
is vastly superior to the old cost sys-
tenn with it's improved and unprov-
able figures and its utter lack of re-
lation to the general books of ac-
count. It seems reasonable to sup
pose therefore, that this system, de-
signed by and for our craft, will
spread rapidly. and become in fact
what it is in name, the Standard Ac-
counting System for Printers
To the combined newspaper and
print shop it is Of greater value than
to the newspaper plant alone. 1t was
designed primarily for the print shop
and our problem in the kennebec
Journal plant was largely one Of
adoption. but it has not inconsider-
able value in the News Department.
1t has cost time and money, but the
results have justified it. We are en-
tering our second year with a force
educated to deal with the problems
which inevitably arise under this or
any other correct and adequate prob
lem Of accounting.
Will you pardon few suggestions
for what they are worth? In the 90
years in which l have bumped into
accounting work in my inexpert and
non professional way. l have learned
that nothing worth while in that line
is ever accomplished that is not the
result Of somebody's brains and en-
ergy and hard work. Accounting is a
science, bookkeeping is an are, and
we are living in an age in which there
is an increasing demand for both.
If you adopt this system you've got
to get into it 100 per cent strong.
If any of you have the idea that
You can putter around with So
called cost system without any ade-
qrate accounting foundation under
it, my advice is to forget it. Prices
and policies based on unreliable cost
figures are houses built on sand.
And don't be diverted by any of
those numerous gentry with patent
systems and accounting cure alls to
exploit Some of them are four
flushers, anyway, but the great point
| is TO stick to this system, into which
your own craft has put IL years of
! brains and work. until YOU have mas
tered it.
| In one Of the preliminary circular
letters sent out to the Press Associa-
ton you will recall this suggested
topic Of discussion: THE Cost Sys-
tenn. Is it a joy or joke ?' To
those who want to play with it by
turning it over to some girl to toy
with when she isn't busy with her
vanity case, it will be neither a joy
nor joke. It will be tragedy
This isn't boys play. It's serious
f, business proposition. If you realize
from the start that in your first year
jyou've got to spend some real money
employ some real brains, exercise a
lot Of patience and do lot of hard
work, you'll have exactly the right
slant on the proposition, and in the
end I think you'll regard it as one
Of the best capital investmens you
ever made.
ID. HOW SHOULD THE SYSTEM
! BE INSTALLED?
I am going to suggest certain pre-
lliminaries which. taken in their right
order. and done in the right way.
may save you many weeks Of hard
and discouraging work.
First: Order the Standard Ac-
counting System for Printers from
1.-THE Maine Typothatae, of which l
TRUST you are all members.
Second Buy calculating ma
lchine capable of readily computing
percentages of at least decimal
lplaces. The best all around machine
that 7 know of is the Monroe CAL
iculating Machine.
Third: Create the position of
Head Bookkeeper. whose job shall be
accounting and nothing else. and en-
ploy somebody with at least a falr
lamount of experience in double en-
try bookkeeping. young enough to
receive a new idea without fainting
away, and old enough to speedily de-
yelop a sense of responsibility and
of the relative importance of things.
Fourth: Let this person study the
Accounting Course for two solid
weeks. without interruption.
Fifth: At the end of that time,
let the Bookkeeper. with the assist
lance of the Secretary of the Name
lTvpothatae. and the plant executives
land foremen, work out: First,
nroperly classified list of the accounts
to be kept in both the General and
Factory Ledgers; second form for
Ian equipment Ledger. which shouid
be ruled and printed at once; third
time cards for operatives and pay
roll analysis sheets. which should
Ia]so be Immediately printed.
Sixth: Let your bookkeeper go
through the whole plant room by
room, listing every bit of machinery
and equipment that is or may be
used in the plant, and attaching
numbered brass tag to every asset
physically capable Of receiving it.
except small tools, which should not
be carried as equipment hut as an
expense inventory. AS each asset is
listed, a temporary record is made
of its asset number. description, and
room where located. This temporary
record is then entered on the Equip
ment Ledger in the numerical order
Of the assets the date OF purchase
and cost being added. Where. actual
data is missing the best estimate
should be made of both these es-
sential facts. The Equipment Led
ger should then be indexed. In a
fair sized plant this preliminary
equipment recording. if done care
fully and thoroughly. will take at
least a solid month. You may not
believe it, but 1 know it will. But it