Business Commons^™

Double-Entry Bookkeeping Method Applied In Spain To Account For Transactions Related To The Minting Process Of Gold And Silver In The Sixteenth Century, Rafael Donoso Anes

Accounting Historians Journal

This paper represents a summary of broad research undertaken in the Archivo General de Indias of Seville. Gold and silver were shipped from America, received in the Treasury Room, minted, and sold in public auctions to merchants. Because single-entry was the usual accounting method applied by the Casa de la Contratacion de las Indias, it was surprising to find several books which provide evidence of the application of the double-entry accounting method to account for those transactions related to the minting process. The purpose of this paper is to demonstrate that the documents related to the accounting procedures of the …