The book daily as its name suggests is an essential document for all business because it all economic transactions are recorded in chronological form. It is in this book where the day-to-day activities of the company are recorded with respect to its income and expenses.
It is mandatory according to the commercial code that the transactions carried out by the organization are recorded or recorded in the journal, indicating the debtor and creditor accounts that are made on a daily basis.
It is a document stamped and signed by the Commercial Registry where the income and expenses of the company will be kept in an orderly manner, that is, the purchase, sale, payments and expenses related to the organization. The way this book is structured is in an orderly way with two columns, one that says Debt and the other Credit.
The record made in the book is called a seat and has a series of characteristics such as:
- It must be sealed by the Mercantile Registry, since it is required by the commercial code, although it has its variations depending on the country, although they are very few.
- The operations carried out in the company must be carried out on a daily basis, otherwise there must be documents such as invoices that support this gap.
- There must be a balance between the two columns, that is, whatever is in the debit column must be in the credit column.
Although the daily book is mandatory and kept by both medium and large companies, it is essential that small businesses also keep accounting with the daily book, since it allows them to know how much is going in and out of the organization allowing the trader to be able to estimate in periods small of time.
