The cause of many creamery failures can largely be attributed to mismanagement and lack of business records. It is not safe for any creamery manager to try to meet present keen competition without an accurate set of records of his own business. There are still a few creamery men who are not keeping any records of the business transactions of their creamery outside of the milk sheets, receipted bills, and the stubs of their check books. The amount of labor required to keep a complete set of books is not large. If it seems impossible to begin a complete system at once, we would advise making a start at least. The proper way to start is to make a record of purchase and sales and at the end of each month follow this up with a complete inventory report. From the information thus recorded can be determined the profits or losses for the month.
After making a start, it will be only a matter of time until the need of more complete records will be felt. Losses which formerly occurred, and which in one year’s time may amount to an astonishing sum, will be brought under better control as the system of bookkeeping is improved.
Bulletin: Vol. 10
, Article 1.
Available at: https://lib.dr.iastate.edu/bulletin/vol10/iss121/1