James P. Elam Journal, 1835-1836, records the financial activities of Elam's general store on an almost daily basis. The volume was primarily used as a daybook to document customer purchases. Information found in those entries includes customer name, name and quantity of items purchased, and monies debited or credited to the customer's account. The account book was also used to record business expenses such as merchandise purchases, freighting fees, and the costs of building a new store. Occasionally family expenses were noted in the volume for travel expenses and purchases of items such as food, clothing, and furniture.

From 1844 to 1848 the volume was repurposed and used to document Chesterfield County estate cases in which Silas Cheatham served as administrator. Before becoming a circuit court clerk in 1847, Cheatham served as sheriff in Chesterfield County. Entries in the account book and numerous loose papers included in the volume relate to the appraisal and settlement of estates. Prior to the abolition of slavery in Virginia in 1865 slaves were considered property and appeared in estate accounts.