Commercial Accounting Code of Commerce

art. 33. The merchant is obliged to maintain and maintain an adequate accounting system. This system may be carried out through the instruments, resources and recording and processing systems that are best suited for accommodate the particular characteristics of the business, but in any case must meet the following requirements minima:

a) It will make it possible to identify the individual operations and their characteristics, as well as to connect said individual operations with the original supporting documents of the same.

b) It will allow to follow the trace from the individual operations to the accumulations that result in the final figures of the accounts and vice versa.

c) It will allow the preparation of the statements that are included in the financial information of the business.

d) It will make it possible to connect and follow the trace between the figures of said statements, the accumulation of the accounts and the individual operations.

e) It will include the internal control and verification systems necessary to prevent the omission of the record of operations, to ensure the correctness of the accounting record and to ensure the correctness of the figures resulting.

art. 34. Whatever registration system is used, they must be duly bound, bound and foliated the ledger and, in the case of legal entities, the book or books of proceedings. The binding of these books may be done afterwards, within the three months following the close of the fiscal year; without prejudice to the special requirements established by tax laws and regulations for records and documents related to the merchant's tax obligations.

art. 35. In the general ledger, the names or designations of the accounting accounts, their balance at the end of the immediately preceding registration period, the total movement of charges or credits to each account in the period and its final balance. Individual majors may be carried by offices, activity segments or any other classification, but in all cases there must be a general major in which all the operations of the entity.

art. 36. In the minute book or books, all agreements relating to the progress of the business taken by the assemblies or meetings of partners, and where appropriate, the boards of directors shall be recorded.

art. 37. All the records referred to in this chapter must be kept in Spanish, even if the merchant is a foreigner. If this requirement is not met, the merchant will incur a fine of not less than 25,000.00 pesos, it will not exceed five percent of his capital and the corresponding authorities. may order that the translation into Spanish be made by means of a duly recognized translator expert, with the merchant being responsible for all the costs originated by said translation.

art. 38. The merchant must keep, duly filed, the original receipts of their operations, in such a way that they can be related to said operations and that the record made of them must be kept for a minimum period of ten years.