Accounting Books: Legal Aspect

The accounting books that companies are obliged to keep must be implemented in accordance with the regulations and Provisions that, for each class of taxpayer, establish the laws, codes and regulations that deal with the matter.
The physical and legal persons, to whom we are only going to refer, are those who are declared in a manner habitual to the exchange of products, services or intermediation for profit, that is, the merchants.
Physical persons. They are the companies constituted by a single individual (owner).
Moral people. They are the companies constituted by several individuals | partners).
Minor taxpayers-natural persons. They are the companies that obtain accumulated income during the year that does not exceed $ 11,500,000.00 or $ 8,000,000.00 when in the latter case the utility coefficient corresponding to the predominant activity is greater than 15% (Art. 115. Tails. I of the Income Tax Law), except those specifically established by the Income Tax Law in its Art. 115-B.
Senior taxpayers-individuals. These are the companies that obtain accumulative income during the fiscal year of more than $ 11,500,000.00 or $ 8,000,000.00 when the utility ratio of its preponderant activity is greater than 15% (Art. 115. Tails. I of the Income Tax Law).

Senior taxpayers-legal persons. In the case of commercial companies, the amount of their income does not matter, they should always be considered as major causes.
Accounting book that minor taxpayers must keep. Said taxpayers will carry simplified con-ibility of their operations, using a single foliated book, which will contain: The record of each operation, act or activity and its features; the investments made; returns, discounts and bonuses (Art. 115-B of the Income Tax Law and Arts. 26 and 32 the Regulation of the Fiscal Code of the Federation).
Authorization. The simplified accounting book foliated must be stamped by the corresponding re-audator authority, prior to its use. When periodic declarations have to be submitted to authorities of the Federation and the federative entities, said book must be sealed before the authorities of the Federation (Art. 32 of the Regulations of the Federal Tax Code).
Books to be kept by senior taxpayers. Senior taxpayers-individuals and legal entities must keep the accounts using at least the daily and general ledgers (Art. 28. Frac, of the Fiscal Code of the Federation and Arts. 26 to 29 of the Regulations of the Fiscal Code of the Federation).
In addition to the previous books, taxpayers-legal entities must keep a minute book in which all the agreements, related to the progress of the business, that are taken in the assemblies or meetings of partners and, where appropriate, in the boards of directors (Art. 36 of the Commercial Code).
Authorization. Taxpayers who adopt the manual registration system must keep their daily books, general ledger and others that are required by other tax provisions, duly bound, bound and foliated, and they will have to present them for sealing before the collecting authority correspondent; prior to use. When these books are finished, they must be presented together with the new ones, so that the latter are also sealed (Art. 28 of the Regulation of the Fiscal Code of the Federation).
Obligation to keep the books. Every merchant is obliged to keep the books, records and documents of his business for a minimum period of ten years (Art. 46 of the Commercial Code).