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Query about 1915 and 1918 Furniture Receipts?
I've found these two old reciepts from house furnishers dated 1915 and 1918.
One from a firm called Wallace Jones & Sons, the other from M Love.
They're two reciepts for mattresses, bedsteads etc.
But what I can't figure out is, both receipts say "Dr to" before the company name.
Anyone know what the "Dr to" means...I've taken a photo of the reciepts, here's the link.
Yeah could be "Deliver to", but that would mean "Deliver to Wallace & Sons".
These were delivered to the customer (Mr Davenport), not to the firm, it would make sense if it said "Dr by" as in Delivered by Wallace & Sons, but yet again i'm trying to work it out from a modern day perspective, maybe they worded these transactions in a different way in the early 20th century.
Oh man, i've asked a question which has evoked a response that's over my uneducated head, I've had a look at your link and it seems what you're saying is correct, i'm still trying to apply my brain to understand it, maybe I should hit myself over the head with a mallet a few times.
2 Answers
- ?Lv 78 years agoFavorite Answer
Short easier explanation: what is after "Dr to" is the name to use for the account of the company. This is to prevent a bookkeeper from having accounts for "Wallace Jones & Sons" and "Wallace Jones and Sons" and possibly "W Jones & Sons."
More or less incomprehensible explanation except to old-timey double entry bookkeepers. What comes after "Dr to" is an implied Cr. So, "Dr to Wallace Jones & Sons" means Wallace Jones & Sons' account is to credited with whatever the total on the invoice is (I can't see it in your image). What is to be debited to balance this transaction is up to you. See source for further thoroughly confusing explanation.
Since you have a liability to Wallace Jones & Sons (you owe them) there should be a corresponding asset (you now have the goods). However, which asset and what kind, department, etc. is up to you and your system. Wallace Jones & Sons is telling you who they are. They cannot tell you where you will enter the asset.
Eventually you will pay them (unless you are running some kind of scam) so you make an entry
Wallace Jones & Sons Dr to Cash.
When means debit Wallace Jones & Sons and credit Cash.
Now you have an asset (the goods), you have less Cash, and the credit and debit in the Wallace Jones & Sons account cancel each other, because you no longer owe them for these goods. Why paying out is a credit to Cash and why the goods are a debit to some asset account is beyond my competence to explain.