The early Greeks and Roman accounts were kept under "charge" and "discharge" principle, comparable to
modern day receipt and payment account, (James 1955). The medieval system of record keeping used in
England during the middle ages had many features of ancient accounting system and remained in use until the
nineteenth century as "charge" and "discharge" (James 1955 and Nwoko 1990). James' perception of 'charge'
and 'discharge' which was similar to the present day receipt and payment account or cash book was presented in
the form of: