Days of Reckoning

Sun (Auckland), Volume II, Issue 318, 31 March 1928, Page 9

Days of Reckoning

SACRED MONTH ENDING FINANCIAL YEAR ENDS Once upon a time March was sacred to the god of the spring. Mars; now it is dedicated *o the twin deities, Profit and Loss. For days ahead their humble priests, the city clerks, will labour in the flare of midnight oil, and whisper the mystic crisons of long tots and balances. THIS is the day of reckoning, ihe end of the "fint.ucial year” for banks, for many city firms, for all Government departments, and tor all local bodies. The “tight” month, when every business man tries to get in as much as possible, and pay out as little as he can, is finishing, and next week will disclose the result of the year's trading. To-day, alsc, the returns of income tax have to be made out The man in the street has already received notice of the momentous times. Probably last week he received several notes which, in effect, meant; “We wotftd esteem it a favour if your long-standing account W6r« settled before March 31. We hate to put the screw on an old customer, but ” On Monday night the nightmare of the bank clerk, the yearly balance, will begin in three city banks. This entails the estimating of interest on overdraft and credit accounts. the general clearing of the notes of other banks. A few years ago this, with a mass of “red tape” work, meant going back to the office at night for about three weeks, but now it is usually cleared up in one, two. or three nights. In the early hours of the morning, when everything is ship-shape, the custom has been for the clerks to assemble and refresh themselves at the manager’s expense. Some of these pleasant old customs have fallen into disuse. Stock-taking is \i!§c one of the joys of the season, and staffs may work for weeks at it. Probably the only people who welcome March are the auditors who descend upon the masses of figures with a sober glee.