Record: f6-1371-7

Financial accounting - House of Fraser

Dates: 1849-
Description: Financial accounting is the activity of processing, recording, classifying and analysing information on financial transactions between the company and third parties, and between the company and its employees.

Biographical history
Arthur & Fraser operated a double entry bookkeeping system. Of the books that made up this system, only one private ledger, 1856-1871 (ref: FRAS 723) survives. In 1866, Fraser & McLaren inherited Arthur & Fraser's accounting system. It continued using the private ledger and also opened a new private ledger (ref: FRAS 278/1). The two ledgers were maintained at the same time and there is some overlap between them. Both ledgers are indexed. The first has an index within the ledger itself, and the second has an index in a separate volume (ref: FRAS 287/1). The second ledger was inherited and continued by Fraser Sons & Co in 1875. In 1909, the ledger (ref: FRAS 278) was inherited and continued by Fraser Sons & Co Ltd. The only other accounting records that survive from this period are a receipt and statement from tradesmen, (ref: FRAS 288, FRAS 289), some customer invoices, (ref: FRAS 292) and some receipts for repayments of loans to the company, (FRAS 280). House of Fraser Ltd. The company kept invoices and receipts. Only a few survive. Transactions were recorded in journals. How often - Each day, each month? Only one survives. From the journal, entries were posted to the private ledgers. Continued with the same private ledgers used by Fraser Sons & Co. Maintained indexes to private ledgers. Appears to be more detail in journal than corresponding private ledgers. General ledger. In 1973, financial control was greatly improved by the installation of a large computer at Harrods to handle customers' and suppliers' accounts for the whole group.

Companies and People:
Arthur & Fraser
Dates: 1849-1865
Fraser & McLaren
Dates: 1866-1875
Fraser Sons & Co
Dates: 1875-1909
Fraser Sons & Co Ltd
Dates: 1909-1947
House of Fraser Ltd
Dates: 1941-
FRAS 723
Title: Private ledger
Date: 1856-1871
FRAS 278
Title: Private ledgers
Date: 1909-1948
FRAS 287
Title: Indexes to private ledgers
Date: 1909-1938
FRAS 289
Title: Statement of cost of building works
Date: 1900
FRAS 288
Title: Estimates and receipts from R.O. Templeton & Sons, show case makers and shop fitters
Date: 1903, 1909
FRAS 280
Title: Receipts for loan repayments
Date: 1903-1905
FRAS 292
Title: Customer invoices
Date: 1903-1906
FRAS 286
Title: General ledger
Date: 1938-1948
FRAS 279
Title: Journal
Date: 1935-1948
Title: Journal
Date: 1941
FRAS 749
Title: Salaries book
Date: 1941-1944
FRAS 290
Title: Receipt from window blind manufacturer
Date: 1909
Financial management (1849-)

Financial accounting was an activity carried out to fulfil the function of financial management.

Financial accounting, Army & Navy Stores Ltd ()

Financial accounting, Thomas Muirhead & Co (Glasgow) Ltd ()

Financial accounting, Fraser Estates Ltd ()

Financial accounting, Gordon & Stanfield Ltd ()

Financial accounting, Wylie & Lochhead Ltd ()

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