{"id":10281,"date":"2019-04-15T18:00:23","date_gmt":"2019-04-15T23:00:23","guid":{"rendered":"https:\/\/quadranslawandfinance.com\/?p=10281"},"modified":"2020-05-28T12:41:45","modified_gmt":"2020-05-28T17:41:45","slug":"importance-of-account-books-for-firms","status":"publish","type":"post","link":"https:\/\/quadranslawandfinance.com\/en\/blog\/importance-of-account-books-for-firms\/","title":{"rendered":"Importance of account books for firms"},"content":{"rendered":"<p><span style=\"color: #000000;\"><span style=\"color: #02afa0;\"><strong>Account books<\/strong><\/span> are the documents that contain a firm\u2019s complete financial information, both from commercial and administrative operations.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">A firm is able to maintain a favorable performance through the proper management of its bills. In our entry, \u200b<span style=\"color: #02afa0;\"><strong><em><u><a style=\"color: #02afa0;\" href=\"https:\/\/quadranslawandfinance.com\/en\/blog\/importance-business-accounting\/\">The importance of having a correct business accounting<\/a><\/u><\/em><\/strong><\/span>, we outline the steps to be followed to maintain your bills in order.<\/span><\/p>\n<p><span style=\"color: #000000;\">According to the <em>\u200bCommercial Code<\/em>, every firm must maintain an ordered accounting to define the chronological order of the operations it conducts.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">The importance of an account book is that it allows the register of all transactions and operations of a firm, it functions as a security before competent authorities, and it shows the debts and obligations of the firm as a legal entity.\u00a0<\/span><\/p>\n<h3 style=\"text-align: center;\"><span style=\"color: #02afa0;\"><em>Maintaining an account book up to date allows control of the status of the firm.<\/em><\/span><\/h3>\n<p><span style=\"color: #02afa0;\"><strong>Account books are divided into two types:\u00a0<\/strong><\/span><\/p>\n<ul>\n<li>\n<h2><span style=\"color: #02afa0;\"><strong><em>Obligatory books<\/em><\/strong>:<\/span><\/h2>\n<\/li>\n<\/ul>\n<p><span style=\"color: #000000;\"><span style=\"color: #02afa0;\"><strong><span style=\"color: #000000;\">\u27b2 <\/span>Log book<\/strong>\u200b:<\/span> All operations are registered, including transactions or activities carried out on a daily basis, following a chronological order. The content of this record may vary depending on whether other records or auxiliary registers are used as well.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\"><span style=\"color: #02afa0;\"><strong><span style=\"color: #000000;\">\u27b2 <\/span>Inventory ledger and annual accounts<\/strong>\u200b:<\/span> It includes a detailed and assessed relationship between the goods, rights, and obligations of the firm at a given time, such as the fiscal year-end.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">To present the obligatory accounting records a four-month deadline is defined, starting on the day of the fiscal year-end.\u00a0<\/span><\/p>\n<ul>\n<li>\n<h2><span style=\"color: #02afa0;\"><strong><em>Voluntary books<\/em><\/strong>:<\/span><\/h2>\n<\/li>\n<\/ul>\n<p><span style=\"color: #000000;\"><span style=\"color: #02afa0;\"><strong><span style=\"color: #000000;\">\u27b2 <\/span>Ledger<\/strong>\u200b:<\/span> Keeps record of specific transactions of a ledger account, that is, its assets, liabilities, and their balance. This book shows the same information as the log book, but with more detail.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\"><span style=\"color: #02afa0;\"><strong><span style=\"color: #000000;\">\u27b2 <\/span>Subsidiary ledgers<\/strong>\u200b:<\/span> Include a detailed register of the values and information reflected on the main books. The conducted operations are recorded with more detail. These books may divide the accounting according to the necessities of register and control.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">A written record of all the operations being carried out in a firm allows the compliance of the established provisions, such as accountability, as well as the avoidance of sanctions.\u00a0<\/span><\/p>\n<p><span style=\"color: #02afa0;\"><strong>The methods to present the account books include:\u00a0<\/strong><\/span><\/p>\n<p><span style=\"color: #000000;\"><span style=\"color: #000000;\">\u27b2 <\/span>Bound books with numbered pages to avoid modifications.<\/span><\/p>\n<p><span style=\"color: #000000;\">\u27b2 A CD or DVD with all information to be legalized.<\/span><\/p>\n<p><span style=\"color: #000000;\">In \u200b<span style=\"color: #02afa0;\"><strong>QuAdrans law and finance<\/strong><\/span> we aid you in the preparation of policies, subsidiaries and registration, register and update of account books.\u00a0<\/span><\/p>\n<h3 style=\"text-align: center;\"><span style=\"color: #02afa0;\">Legal and Accounting Consulting in Playa del Carmen<\/span><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>Account books are the documents that contain a firm\u2019s complete financial information, both from commercial and administrative operations.\u00a0 A firm is able to maintain a favorable performance through the proper management of its bills. In our entry, \u200bThe importance of having a correct business accounting, we outline the steps to be followed to maintain your [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":10275,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-10281","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accountant"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Importance of account books for firms - QuAdrans law and finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/quadranslawandfinance.com\/en\/blog\/importance-of-account-books-for-firms\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Importance of account books for firms - QuAdrans law and finance\" \/>\n<meta name=\"twitter:description\" content=\"Account books are the documents that contain a firm\u2019s complete financial information, both from commercial and administrative operations.\u00a0 A firm is able to maintain a favorable performance through the proper management of its bills. In our entry, \u200bThe importance of having a correct business accounting, we outline the steps to be followed to maintain your [&hellip;]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/quadranslawandfinance.com\/wp-content\/uploads\/2019\/04\/libros-contables-para-empresas.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@QuAdrans_\" \/>\n<meta name=\"twitter:site\" content=\"@QuAdrans_\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Redacci\u00f3n QuAdrans\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/quadranslawandfinance.com\/en\/blog\/importance-of-account-books-for-firms\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/quadranslawandfinance.com\/en\/blog\/importance-of-account-books-for-firms\/\"},\"author\":{\"name\":\"Redacci\u00f3n QuAdrans\",\"@id\":\"https:\/\/quadranslawandfinance.com\/#\/schema\/person\/1e795a3d0e6c3e3c5d0ba2f035562767\"},\"headline\":\"Importance of account books for firms\",\"datePublished\":\"2019-04-15T23:00:23+00:00\",\"dateModified\":\"2020-05-28T17:41:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/quadranslawandfinance.com\/en\/blog\/importance-of-account-books-for-firms\/\"},\"wordCount\":399,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/quadranslawandfinance.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/quadranslawandfinance.com\/en\/blog\/importance-of-account-books-for-firms\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/quadranslawandfinance.com\/wp-content\/uploads\/2019\/04\/libros-contables-para-empresas.jpg\",\"articleSection\":[\"Accountants\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/quadranslawandfinance.com\/en\/blog\/importance-of-account-books-for-firms\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/quadranslawandfinance.com\/en\/blog\/importance-of-account-books-for-firms\/\",\"url\":\"https:\/\/quadranslawandfinance.com\/en\/blog\/importance-of-account-books-for-firms\/\",\"name\":\"Importance of account books for firms - 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