Write a short and precise description;

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Identify and organize each of the economic transactions carried out;
Note the date on which the operation was performed;

Indicate the accounts involved and whether they are debited or credited;
Record the debit and credit amounts of each account.
Let's now look at a small example of what a daybook should look like, in the context of a small shoe store.


The constant progress of technology has generated the use of various accounting systems that allow for daily electronic recording, which offers us some significant benefits and disadvantages that you should definitely know about.

Advantages:

Task automation and error reduction;
Remote access to records and ease of use;
Performing accounting analysis in less time;
Integration with other accounting and financial management programs.
Disadvantages:

An investment must be made to gain access to the accounting system;
You have to consider the learning curve of your staff to make the records;
There can be dependency on technology if there is no support;
Some legal requirements must be met.
Legislation
Regarding this last point, specific minimum requirements must list of canada cell phone number be met in order for the registration to be done electronically. Mainly, it is necessary to include a valid and secure digital signature or certificate.

Furthermore, records must be kept for the same period of time (at least six years) and the programs used must ensure that the data cannot be altered, thus avoiding tax fraud.


There are many different problems that can arise when making accounting entries in the accounting journal. Some of the most common errors may be:

Incorrectly assigning the accounts affected by the operations;
Omitting financial transactions or even duplicating them;
Not constantly reconciling your balance;
Failure to comply with the double-entry rule;
Entering incorrect dates;
Failure to correctly value the company's assets;
Staying up to date with changes in current regulations.

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