preserved for a reasonable period of time and should be filed in order 
of date received. 
This brings us to a consideration of the first of the accounting 
records—the Cash Receipts Record. While detailed description of 
this record will be deferred to a later section, it is desirable to show 
the recommended form at this point as Figure 4. The character of 
entries is indicated. Usually, it will be found desirable to make an 
entry for each remittance. Ordinarily, the entry may be made direct 
from the check or money order at the time the deposit slip is prepared, 
each remittance being shown separately. In the case of very large 
organizations, however, it may be found to be desirable clerical pro- 
cedure to prepare an intermediate summary of remittances and to 
make but one entry on the Cash Receipts Record for each day. 
ConTrOLLING THE FUNDS 
It has been stated in a preceding section that all remittances 
received should be deposited in bank. The policy with respect to bank 
accounts may vary. In some instances the treasurer of the chamber 
may be a banker and the funds may be deposited sub ject to his check. 
If this be the chamber’s policy, it would appear to be most desirable 
where the dues are billed annually and a large amount of funds is 
received considerably in advance of the need for their use. 
Care should be exercised, however, against too much formality 
and red tape in this matter. The day has passed when it seems neces- 
sary and is desirable to provide for two or three signatures on every 
check issued, or for securing the authorization of the board of directors 
to each specific payment made by the principal and responsible officer, 
the secretary. 
Modern methods of accounting and the frequent auditing of 
accounts, together with the provision of a workmanlike budget plan 
obviates the necessity for the executive scrutiny of every disbursement 
by several pairs of eyes. 
If chamber dues are collected for a year in advance during the 
first two or three months of the year, it may appear desirable as stated 
to deposit the remittances to the credit of the volunteer treasurer in 
a trustworthy bank. A second bank account may be maintained, 
subject to check by the secretary, and be in the nature of an imprest 
fund. By this is meant that the secretary’s account may be initiated, 
say, by deposit by the treasurer of $2,000 to the credit of the secretary 
and at the end of each month brought back to that amount by a payment 
by the treasurer equaling the month’s disbursements. 
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