The Account Books of the Soranzo Fraterna (Venice 1406–1434) and Their Place in the History of Bookkeeping

Abstract

This paper contributes to the study of the accounting and legal practice existing in the Venetian Republic in the late Middle Ages. The author examines two account books created by the Soranzo fraterna, a trading firm organized as a family partnership and operating in the first half of the 15th century. The larger of the surviving ledgers, known as the libro real novo, is generally considered to be the earliest extant Venetian example of double-entry bookkeeping. New sources discovered by the author in the State Archives of Venice confirm that the libro real novo represents a compilation of accounts (a so-called estratto) prepared in view of a complicated litigation at the giudici di petizion court. The detailed examination of the judicial conflict in question reveals the purposes behind the composition of this book and the impact that the circumstances of its creation had on the accounting techniques used. JEL Classifications: M41; N73; N83.