Centrum Method of Bookkeeping Technology / Science in Awldor | World Anvil
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Centrum Method of Bookkeeping

This system is wonderful once you can get the accounts to balance out.
— Sandrine Dufort, Mabara Guild Bookkeeper.

Overview

  Centrum double entry bookkeeping is revolutionizing the way guilds conduct business. This technique improves the accuracy of financial records and reduces unintentional errors that could make their way into the books. This reduction in error produces a more reliable record of a guild's assets, liabilities, and equity.

Double Entry

  The technique involves effectively counting every transaction twice by adding the same number to two columns. Once a day's business is concluded, the amounts in both columns are tallied. If the columns fail to equal each other then either an error was made or an entry was not properly made. It is also possible that records are intentionally fudged or omitted in an act known as financial fraud. Either way, double entry helps root out problems with the books.

Note(s) from the Archivists:

  This is the style of bookkeeping that our organization uses. - Archivist Taenya Naïlo    I thought we were non-profit? - Archivist Enna   We are. Profits are not a prerequisite for better organization of information. - Archivist Taenya

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Comments

Author's Notes

Based on the Venetian Double Entry Bookkeeping method, pioneered by the merchants of Venice during the late middle ages.


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