If the business be run in departments, it is necessary to keep the sales for each department quite distinct. This is attained by providing separate columns for the sales belonging to each department. For this form the posting to the customers' accounts would be as before, but the totals of the various departmental columns would of course be credited, not to a general Credit Sales account, but to a Departmental Sales account.

Form 2, Day Book for use in a Departmental System

Where the nature of the business entails the issue and return of jars, cases, or other packages, it is most desirable to keep these quite distinct from the goods by extending them to a separate column. The total of the goods column will be credited to the Credit Sales account, while the total of the cases column will be credited to the Cases account.

Form 3, Day Book for Separation of Returnable Cases

For a wine merchant's business it is often advisable to keep a check upon the stock-in-trade, and it therefore becomes necessary to note in the Day Book the quantities sold as well as the money value of the sale. The necessary columns can be added to Form 3, either on the left-hand side before the date column, or just before the folio column.

There are in daily use certain forms of Day Book which are special to particular classes of businesses. An outstanding instance of this is a Hotel Day Book in which it is the practice to keep all the various charges incurred by a visitor distinct, so as to show the gross income from each head of the business. The following is one of the most commonly used forms, although minor modifications may be introduced here and there to meet special requirements:

The daily amounts of these items are debited to the ledger account of the visitor, and as that account is known by the
number of the room occupied instead of by the usual folio, the posting-clerk initials the item as posted. Periodically the totals
of the various columns are credited to the accounts to which they relate, and thereby the income from the different items can
be ascertained. The outlays col. shown above is for the entry of petty-cash payments made on behalf of visitors, such as
hires, tickets for entertainments, telegrams, &c.

For retail businesses there is some difficulty experienced in keeping a correct record of the many small sales which take
place at regular intervals, such as in the case of newsagents, bakers, dairy-keepers, &c. The following form is the most
elaborate, as is required by the nature of the business, and it should be modified to suit any business having regular daily trans-
actions with its customers. The numbers of the columns refer to the number of the delivery for each day, and the entries are
made in these columns in pence. The various delivery columns are summed vertically, and the amount of each group of three
is posted as the day's sales to the credit of the milk account, and the weekly cross totals are debited to the ledger accounts
of the customers.

The Sales Credit Day Book, more correctly the Returns Inwards Book, must in every case be of exactly similar ruling to
the Day Book, for it is but the record of cancelled sales, and the particulars required of the sales themselves must be recorded
also of the cancellations. In some businesses it is the practice to carry the total of the Returns Inwards Book to
the Day Book, and deduct the returns total from the sales total. If, however, there is a Credit Sales account kept, there
is no need to make the deduction in the Day Book, as the Day Book total would be credited and the Returns Book total
debited to that Credit Sales account, which would then show the net completed sales for the period.

Another style of Day Book is that which provides a column for the cash sales. The general practice is to enter the
daily total of the cash sales to the Dr. of the Cash Book, and post from there to the Cr. of a Cash Sales account, the total of
which is transferred at the closing of the books to the Cr. of Goods account. The employment of a cash sales column in the
Day Book might dispense with the Cash Sales account referred to, as the postings from the Cash Book are made to the Day
Book instead, and the total of the cash sales column is transferred only monthly, quarterly, or at other intervals, to the
Sales account or Goods account. The following is the form in use where the system obtains:-

Form 6, Day Book with Column for Daily Cash Sales

The Dr. entries for the items in the credit sales column are made in the purchasing customer's account, and his ledger folio appears in the folio column. The Dr. entries for the cash sales, however, appear in the Cash Book, and therefore, instead of a posting folio, the initials "C. B." are given, supplemented, if desired, by the folio.

Debenture. See COMPANIES.

Debit Note

IN a general sense an invoice is a Debit Note, as it is an advice of an amount placed to the debit of the receiver; but, strictly speaking, the term should only be applied to the note of advice sent to the receiver of returned goods. A. buys goods from B., and as the goods are defective in some particular, A. returns them to B. A. would advise B. formally of the return by sending him a Debit Note for the amount of the goods, and B. on receipt of the goods would send to A. a Credit Note containing the same particulars. A Debit Note then would invariably be transmitted by the sender to the receiver of returned goods, or returned empties, or even in respect of some allowance claimed for short weight, damage in transit, &c.; and the receiver would transmit to the sender a Credit Note in identical terms. Clearly, if B. is advised by A. that an amount has been placed to his debit in A.'s books, and he allows the amount so debited to himself, then he must credit A.'s account in his books, and he should advise A. of such item having been passed to his credit. A Debit Note then would only pass between the parties under such circumstances as involve the transmission also of a Credit Note, one indeed being the counterpart of the other.

The form of the Debit Note is similar to the invoice, but it should bear its own distinctive title and be printed in a different colour, frequently in blue, the Credit Note being red.

Deed of Arrangement. See ARRANGEMEnt, Deed of.

Deeds, Execution of

A DEED (factum) is defined by Spelman as: Scriptum solemne quo firmatur donum, concessio, pactum, contractus et hujus-modi (a formal writing legally evidencing a gift, grant, bargain, contract, or the like). Coke says that the requisites are writing, parchment or paper, capacity for legal acts in every party to it, a sufficient name for every party to it, a legal subject-matter, apt words, sealing and delivery. It will be observed that signing is not considered essential, but in practice no party to a deed will omit to append his signature. As to the material written upon, it has been laid down that it must not be wood, leather, cloth, or other substance which will admit of corruption of the writing without leaving traces thereof. The words should as far as possible follow set forms, and be expressed in more or less technical language. Clear and concise expression of the intention of the parties is the great matter to be aimed at, and unnecessary words and phrases and enunciation of what the law itself implies are to be avoided. The deed itself must not offend against any rule of law. As to sealing, any kind of seal embossed or affixed will do, but merely a circle with the magic letters "L.S." within it is not considered sufficient. Delivery completes the execution of the writing; this may be actual by handing over, or constructive as when, to use Coke's words, "the writing sealed lyeth upon the table, and the feoffor or obligor saith to the feoffee or obligee, 'Goe and take up the said writing, it is sufficient for you,' or 'It will serve the turne,' or 'Take it as my deed,' or the like words." In practice actual delivery, with the words, "I deliver this as my act and deed," should be the method adopted. A deed delivered to one not a party to it to take effect upon a condition being satisfied, is called an escrow (e.g., a conveyance delivered to a solicitor to be handed over on payment of the purchase money). Attestation by witnesses is at common law not necessary to validity, but one witness at the least should always sign, adding his address and quality or description. Care should be taken in cases where, by statute, two witnesses or other special form of attestation is compulsory to follow out these requirements.

Deeds are distinguished as deed polls and indentures. The former