Definition of Daily Book

At the behest of the accounting, the book daily, It's that one accounting book in which each day all the economic events of a company, that is, all the transactions carried out, and always following a chronological order.

Meanwhile, each event will involve an annotation that is formally designated as accounting entry or accounting entry. This entry will always imply a modification with regard to the heritage of a company and as a result it will involve a concrete movement in your accounts.

On the call double entry system what is the type of record Most used for this book, each entry will be made up of two annotations, on the one hand the debit and on the other the credit. It should be noted that both carry out opposite movements and that therefore they will affect liabilities or assets.

Now it is impossible, following this system, to write down something in the debit and not the credit They must record the variations that one or the other generates in their counterpart in order to guarantee the

Balance accountant of the company in question.
The debit and credit of a seat with different amounts can never be left. Always in an entry the amounts recorded in debit and the amounts recorded in credit must be equal.
Because if they are not properly recorded, they would be generating disruptions that obviously will later cause them not to give the accounts correctly.

With an example we will see it more clearly, if you buy a good you will to intervene the debit account, in the place of the debit for the purchase of that good and also the payment account to credit, because a obligation of payment of the good that was bought.

Frequent economic events reported in this book include: a purchase, payment, collection, sale, provision, income or expense, among others.

It should be noted that the accounting of a company will allow its own and others to know for sure the solvency and economic capacity that it has. That is why it is vitally important that each financial and economic step be consigned accordingly.

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