PErmit one of your Sex to give you, as far as her small knowledge will reach some hints to the right understanding and use of Accounts: an Art so useful for all sorts, sexes and degrees of persons, especially for such as ever think to have to do in the world in any sort of Trade or Commerce, that next to a stock of Mony, Wares and Credit, this is the most necessary thing.

Nor let us be discouraged, or put by the inspection thereof by being bid meddle with our distaff, for I have heard it affirmed by those who have lived in for­raign part, that Merchants and other trades men have no other Book-keepers then their Wives: who by this means (the Husband dying) are well acquainted with the nature and manner of the trade, and are so cer­tain how, and where their stock is; that they need not be beholden to servants or friends for guidance.

And for telling us that the government of the House [Page 2]appertains to us, and the trades to our Fathers or Hus­bands; (under favour) the one is to be minded, and the other not neglected, for there is not that danger of a families overthrow by the sause wanting it's right rel­lish, or the Table or Stools misplac't, as by a widows ignorance of her concern as to her estate, and I hope husbands will not oppose this when help and ease is in­tended to them whil'st living; and safety to their name and posterity after death: except they have pri­vate trades (too much in mode) whereof they would have their wives wholly ignorant. In such a case in­deed, one that knows not that one and two make three suits best. And let us not fear we shall want time and opportunity to mannage the decencies of our house; for what is an hour in a day, or half a day in a week, to make inspection into that, that is to keep me and mine from ruine and poverty.

Methinks now the objection may be that this art is too high and mysterious for the weaker Sex it will make them proud: Women had better keep to their Needle-work, point laces, &c. and if they come to poverty, those small Crafts may give them some mean releif.

To which I answer, That having in some measure practised both Needle-work and Accounts I can averr, that I never found this Masculine Art harder or more difficult then the effeminate achievements of Lace-make­ing, gum-work or the like, the attainment whereof need not make us proud: And God forbid that the practise of an useful Virtue should prompt us to a contrary Vice.

Therefore if I might advise you, you should let the poor serve you with these mean things, whilst by gain­ing or saving an estate you shall never be out of capa­city to store your selves more abundantly with those trifles, then your own industry in such matters could have ever blest ye

[Page 3]And now Gentlewomen I give you those rudiments of Accounts which are the subject of this little pam­phlet and transmit this learning to you the best I can, in the self same manner as it came to me.

Know then that my Parents were very careful to cause me to learn writing and Arithmetick, and in that I proceeded as far as Reduction, the Rule of Three and Practice, with other Rules, for without the knowledge of these I was told I should not be capable of Trade and Book-keeping and in these I found no dis­couragement for though Arithmetick set my brains at work, Yet there was much delight in seeing the end, and how each question produced a fair answer and in­formed me of things I knew not.

Afterwards I was put to keep an exact account of the expence of House-keeping, and other petty Charges, my Father made it my office to call all persons to an account every night what they had laid out, and to reimburse it them, and set all down in a book, and this is the way to make one a Cashier as they are termed, and one that can keep a fair account of receipts and payments of Mo­ney or Cash-book, is in a good way towards the un­derstanding of Book-keeping: Shee that is so well ver­sed in this as to keep the accounts of her Cash right and dayly entred in a book fair without blotting, will soon be fit for greater undertakings.

Now in regard that other learnings do depend upon this petty Cash account; I find it therefore convenient to give you an example of a moneths expence, and you will thereby see what further use may be made of it af­terwards.

Therefore to begin, my Father gives me at several times in the moneth of January, the sum of 21 l. 17 s. 11 d. the account of the expences whereof is as follow­eth.

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Thus much for the particular Account of the Expences in Ja­nuary, amounting to 21 l. 17 s. 11 d. Which (being past and al­lowed) I am required to draw out in another form, and to make out, in particulars, how much thereof is Expended in Meat, how much in Bread and Meal, how much in Fish, &c. And so to sub­divide, and branch out this Account into as many parcels as is con­venient, to shew which way my Money goes, and put me upon Considering how I may lessen my Expences for the time to come. The Form of this Account, is as followeth.

See the Reason of the Figures preceding the Column of Mo­ney in pag. 14.

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[Page 14]I know not any thing that wants Explanation in these two several Accounts, except the Reason of the Fi­gures preceding each Summe of Money: The Use there­of is this. In the first Account, pag. 4. The first Ar­ticle is 4 d. paid for a Book; and the note of Reference thereto is 12. To shew that you have that Sum, and that parcel past to Account in page 12. And in page 12, under the Title of Books and Schooling, I find the num­ber of Reference to be 4, shewing that the said Entry of 4 d. for a Book, was there Originally Entred, viz. in pag. 4.

Now, why all this, you'l say?

I Answer, were there no other reason than that, I might (from the second Account, wherein I do only set the Sum, and not recite for what) turn the readi­lier to the first Account, and see what it is for; this would recompence the trouble: But there is a further and great use thereof to be made in the keeping an Account of Trade, as shall be shewn in due place.

And I do not doubt, but, that if Parents and Supe­riours imploy their Children or Servants (one at a time, That is, one in one Year, and another in another) in this or the like way of keeping the Accounts of House Expences, or other petty Charges (besides the satis­faction they will have to see how, and which way their Money goes.) They will also train up their Children to be regular and handy in Accounts of greater Mo­ment.

[Page 15]I have not further to say, concern­ing this Account of House-Expences, but, (that at the Years end, when the Account is past and approved) there should be a Scheme thereof drawn out of the said Account, in manner follow­ing, viz.

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[Page 18]This fore-going Scheme hath two principal Aspects: First, you see the Total Expence of each Moneth at the bottom thereof, viz. January 21 l. 17 s. 11. Febr. 30 l. 1 s. 6 d. &c. Secondly, you see the Total Years Expence of each Commodity in the last Collumn; and so the Years Expence for Flesh-meat is 62 l. 5 s. 1 d. And for Fish 9 l 17 s. 10. &c. And the Total of the whole Years Charge, at the foot of all, to be 334 l. 7 s. 3.

Note, That the Account of Promiscuous Incident Charges (amounting in the Year to 16 l. 9 s. 3 d.) may be, if you will, distinguished into other several heads, as Port of Letters, Boat and Coach-hire, Travelling-charges, and the like.

And thus much may serve to be spoken concerning this petty-charge Account: In the Practise whereof two things are to be minded, viz. Exactness and Neat­ness; without Exactness it is an insignificant thing, a la­bour in vain. And without Neatness, the Accountant doth but manifest her unaptness, and unreadiness. There­fore, if one Year do not render the Accountants exact and neat, let them Practise it two Years: For if a true Account be not kept without blots, it will never com­mend the Artist.

I should now, in performance of my Promise in the Title Page, present you with some Essays or Rudiments of Accounts in the way of a Trade; but what can be expected in these few sheets? Or why should I here Copy the Works of others? The best Service I can do you, is to refer you to that Book lately Printed, whence I de­rive all my small stock of Learning in Accounts. The Title of the Book is, Debtor and Creditor made Easie; and is to be had of the Bookseller whose Name is affixed to the Front of this.

But that I may do something, to acquit my self of [Page 19]this Engagement, I shall here Present you with some short Precepts, and a few useful Examples for a begin­ner, in the wat of Trade; and leave you to Reap the Harvest of this Learning from better Authors.

The General Precept therefore is this, That when any Goods are bought or sold, when any Money is received or paid; in short, when any Bargain is made, each Action or Contract is to be Entred in your Leiger, or Book of Accounts twice, viz. Debtor and Creditor. For you must consider, that every Receit or Payment, every Buying and Selling, or other Contract is a transferring of Property from one to another; so that the Person, or thing, who is the Receiver or Borrower, is intended here for the Debtor; and the Person who pays, or the thing delivered or lent, is the Creditor. But I cannot more aptly Explain my meaning, than in referring you to the Petty-charge Account before going; wherein you have this Rule of a double Entry plainly Demon­strated. For in the Moneth of January I Receive 21 l. 17 s. 11 d. This I disburse, as hath been shewn. In Flesh 3 l. 6 s. — In Fish 16 s. 7 d. &c. Here now the Ac­count of Flesh is Debtor, 3 l. 6 s. and the Account of Fish is Debtor 16 s. 7 d. &c. and that of Money or Cash is Creditor for all those Sums; and thus one answers th' other, and Balances the Account.

I Therefore to proceed: Imagine an Exchange-Wo­man, Shop-keeper, or the like, newly entring upon Trade, is desirous to keep her Accounts in an exact Me­thod.

The first thing she is to do is to draw an Inventory of her Estate, as followeth, viz.

In Ready Money— 60 l.—. —

A Piece of black A-la-mode, Contain­ing 55 Ells, cost 3 s. per. Ell. 0 [...] l. 05 s. —

[Page 20]20 Dozen of Womens Gloves, cost 16 s. per Dozen — 16 l. —

Due to her by Mrs. Martha Thorpe — 20 l. —

So her whole Estate is—104 l. 5 s. —

These four Branches of her Stock are to be kept in so many several Heads of Accounts, as in the former Rules of House Accounts: So that first Money or Cash is to be made Debtor, and an Account of Stock, Cre­ditor: Turn over to the Leiger, which begins at page 28, and you'l see this done; the Debtor is always on the left hand, and the Creditor on the right. There you will find it so entred, viz. Cash in pag. 28, is Debtor to Stock, in pag. 29. And Stock, in pag. 29. is Credi­tor by Cash, in pag. 28. And in the like manner you will find the other three Parcels entred in pag. 30, 31.

Having thus Posted your Account of Stock, and set open your shop, you begin your Trade after some such manner as this: And here I desire the Reader or Learn­er, as she reads these following Instructions, to cast her eye upon the Leiger where the Parcels are entred.

II You sell by Retail for ready Money, five dozen of Gloves, at 20 s. per dozen — 5 l. —

For this (having Received Money) your Cash is Debtor, Debtor 28. Creditor 31. and Account of Gloves is Creditor; as you see it done in pag. 28.31. — 5 l. —

III You have sold to Mrs. Thorp five dozen of Gloves, at 22 s. per dozen — 5 l. 10 s. —

To Enter this, Mrs. Thorp (not yet having paid) is Debtor, Debter 30. Creditor 31. and Account of Gloves Creditor, as will ap­pear by the Figures of Reference in the Margin. 5 l. 10 s.

IIII Having given out 25 Ells of Allamode for making of Hoods, they now being returned in 30 Hoods, cost [Page 21]2 s. 6 d. each Hood in stuff onely, which is equivalent to 3 s. per Ell. — 3 l. 15 s. —

For this, make in your Leiger an Account of Hoods, and let that be Debtor, and Allamode Creditor. 3 l. 15 s.

Paid your Sempstress for Silk and making the said Hoods, Debtor 32. Creditor 31. at 6 d. a piece.— l.— 15 s. —

V Hoods is here Debtor to Cash— l.—15 s. —

Note, Debtor 32. Creditor 29 when I say Debtor to Cash, it is in short to ex­press, that Hoods is Debtor, and Cash is Creditor. And here also Observe all along in your Leiger, that every Debtors Parcel begins [To] and then mentions the Creditor; and every Creditor begins [By] and then mentions the Debtor. The first tells whither you are going, the second whence you come.

VI You have Received of Mrs. Thorp, in part of her Debt— 15 l. —

Make Cash Debtor, Debtor 28. Creditor 31. & Mrs. Thorp Creditor. 15 l. —

VII Bought of Henry Garstang 20 dozen of Gloves, at 15 s. per dozen. — 15 l. —

Here Gloves are Debtor, Debtor 30. Creditor 33 and you must state an Ac­count for Henry Garstang, and make that Creditor. 15 l.

You pay the said Garstang in Money 10 l. and by 30 Hoods, at 3 s. 4 d. per Hood. — 5 l. —

1. Henry Garstang is Debtor to Cash for the 10 l. paid him. Debtor 32. Creditor 29. Debtor 32. Creditor 33. — 10 l. —

2. The said Garstang is Debtor to Hoods 5 l. for 30 sold him.

VIII Bought of James Jones two Pieces of Bag-Holland, containing 60 Ells, at 5 s. per Ell. — 15 l. —

Four Pieces of Cambrick, at 40 s. per Piece. 8 l. —

23 l. —

Make an Account of Linnen Debtor, Debtor 32. Creditor 33 and James Jones, Creditor. — 23 l. —

[Page 22]Both these must be new opened in the Leiger.

IX You pay Mr. Jones in Money — 12 l. 10 s.— And he is willing to accept of the Assignment upon Mrs. Thorp for the Debt she owes, being — 10 l. 10. —

So he is paid in full — 23 l. —

By this time I hope it is easie to be understood that Jones is Debtor, Debtor 32. Creditor 29. Debtor 32. Creditor 31. and Cash Creditor for the 12 l. 10 s. paid.

And he is Debtor, and Mrs. Thorp Creditor for the Assignment of — 10 l. 10 s. —

X Your whole parcel of Linnen is cut out, and made up into Handkerchiefs, Cravats, Cuffs, &c. the charge thereof, as by the Sempstress's Bill, amounts to, and you paid her — 2 l. 10 s. —

This is easily put in Order thus. Debtor 32. Creditor 29.

Linnen Debtor, and Cash Creditor— 2 l. 10 s. —

XI You meet with a Merchant going to Barbadoes, who hath occasion for about half of your Linnen, and the parcel is made out, proportionable to his pay, which is not to be in Money, but in two Hogsheads of Sugar, weighing Nett 14 C. 3 q. 14 l. The price 26 s. per C. amounting to 19 l. 6 s. 9 d.

The Goods being Bartered and interchanged, you need onely make an Account of Sugar, Debtor 34. Creditor 33. Debtor, and Linnen Creditor — 19 l 6 s 9 d

XII Your disbursements, for House-keeping, and all other petty charges, amounts to in a week past — 3 l 6 s 8 d.

Make an Account in your Leiger of House-keeping, Debtor 34. Creditor 29. and let that be Debtor to Cash — 3 l 6 s 8 d

And thus I have done, as to carrying on a Trade, for I dare not swell this into a farther progress; this may suffice to give you a relish of an Art, which the more known, will yield the pleasanter taste.

But all this will signifie but little, unless you bring [Page 23]your Accounts to a certain conclusion or Balance, whereby to see how your new Stock differs from your Old.

To accomplish this, there are two Accounts more to be stated in your Leiger, which have not yet been open­ed; that is, the Account of Profit and Loss, and the Account of Balance. The first of these you could not have been without, if this Trade had been a little far­ther carried on. That of Balance is ever the last Ac­count in the old Leiger, and the first in the new, as ex­perience will demonstrate.

To effect this, look over your Leiger from first to last, and single out the Accounts which remain open; I mean, such which are not even on both sides, as Thorps, Garstangs, and Jones's are. Then consider what may be the reason that the open Accounts are not closed as those last mentioned. And you'l find two main Reasons; first, for that there are still divers goods undisposed of. Second­ly, in regard of a surplusage by Profit, or a diminution by Loss: In both these cases these two Accounts of Pro­fit and Loss, and Balance will set all right.

Begin therefore with the Account of Cash, and you will find that there is still remaining in your hands 50 l. 18 s. 4 d.

To even therefore this Account, Debtor 34. Creditor 29. make Balance Debtor Cash 50 l. 18 s. 4. so close up that.

The next is the Account of Alamode, wherein you see is remaining unsold 30 Ells, which at 3 s. an Ell is — 4 l. 10 s. —

Make also Balance Debtor to Alamode 4 l. 10 s. and that is evened. Debtor 34. Creditor 31

The next Account is that of Gloves, which is not to be closed up without twice the Labour, as the former, [Page 24]for, in this, you have reference both to Profit and loss, and Balance. First, value the Gloves you have re­maining, reckoning half of the first parcel 8 l. and all the last 15 l. both which being 23 l. carry to Account of Balance, as you did the two former, viz.

Balance is Debtor to Gloves for 360 pair resting un­sold — 23 l. — Debtor 34. Creditor 31.

Then you'l find 50 s. wanting to make up the Debtor side, and that is clear Profit; for which, say,

Gloves Debtor to Profit and Loss, Debtor 30. Creditor 35. 2 l. 10 s. gained up­on that Account.

The next is the Account of Hoods, which is to be closed up with Profit and Loss, Debtor 32. Creditor 35. 10 s. being so much gained upon that Account.

The next is that of Linnen, which must be evened just as the Account of Gloves was; therefore value the Linnen remaining, at — 12 l. 15 s. —

For this, Balance is Debtor, Debtor 34. Creditor 33 and Linnen is Credi­tor — 12 l. 15 s. —

And then you will find 6 l. 11 s. 9 d. Profit: Then say,

Linnen is Debtor to Profit and Loss — 6 l. 11 s. 9 d.

Afterwards you come to your Account of Sugar, Debtor 32. Creditor 35 Debtor 34. Creditor 35 and that is all remaining; therefore say,

Balance Debtor to Sugar — 19 l. 6 s. 9 d.

Then your House-keeping Account, and that is to be placed on the losing side of Profit and Loss, thus,

Profit and Loss Debtor to House-keep. Debtor 34. Creditor 35. — 3 l. 6, 8 d.

And then compare your Account of Profit and Loss, and see which side weighs heaviest, and that is the Cre­ditor side, amounting to 9 l. 11 s. 9 d. which is the Sum Total of this weeks gain, out of which deduct the char­ges of House-keeping, which is on the Debtor side, and the clear Profit is — 6 l. 5 s. 1 d.

Carry this 6 l. 5 s. 1 d. to your Account of Stock, at [Page 25] pag. 29. being an apparent increase to that Account, which before was 104 l. 5. and now by this additon, is 110 l. 10 s. 1 d. thus,

Profit and Loss Debtor to Account of Stock 6 l. 5 s. 1 d. Debtor 34. Creditor 29

Lastly, carry over the Account of Stock to Balance, thus,

Stock is Debtor to Balance — 110 l. 10 s. 1 d. Debtor 28. Creditor 35

When this is done, if Balance Balances it self, and be alike on both sides, as you see it is, then you may con­clude your Leiger is right posted; else you must never cease till you find out the Error. And this Account of Balance (being that which demonstrates where your Estate lies) is all you need carry over to your new Book. The Reader is not to imagine that it is intended she should Balance her Accounts and have new Books every week, once a Year is often enough.

And in this manner ought a Merchants Leiger appear, every Account therein Balanced to one Farthing, which will be both a Credit and a Delight to her.

If a Retailing Shop-keeper Objects, That it were too painful to enter every pair of Gloves, &c. which he sel­leth, in his Leiger after the aforesaid manner. I An­swer, There is a ready way to comprise a weeks Retail, though consisting of many particulars, into a very short Method. But this and other difficulties are all removed in that fore-mentioned Book, whence I derive my Learn­ing.

I Advise the Practitioners to take the pains, as they Read the Propositions and Instructions, not to satisfie themselves by looking in the Leiger; but as they un­derstand each Parcel, to post it themselves in a Paper Book till the whole be finish'd.

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[Page 36]If any Persons desire the Assistance of a Master to hasten them in this Learning, Mr. Randolph, School-Ma­ster in Mugwel-street, near Chirurgeons-Hall, will Attend them, at home or abroad.