Tally sticks are simple tools used for counting and keeping records. They are typically made from wood and have notches carved into them to represent numbers. Each notch corresponds to a specific quantity, making it easy to track items or transactions. Tally sticks were commonly used in medieval Europe for accounting purposes. These sticks served as a form of currency and proof of debt. When a loan was made, the lender would keep one part of the stick, while the borrower would keep the other. This method helped ensure that both parties had a record of the agreement, reducing disputes over repayment.