All business establishments and taxpayers are required to keep a record of their day to day business transactions in order to know the result of their operations, ‘The said record is referred to as "book of accounts’ Whenever a business establishment or taxpayer applies for certificate of registration (COR) with the BIR, it also required to register the book of accounts. Ais, the books of account should also be registered annually on or before Book January 31 of each year. Gooc Forbu:Registration of book of accounts can be any of the maintaifollowing type 4. Manual Books of Account 2.Gi Manual books of account are the traditional journal, ledger and columnar 3.Cz books you can buy in the book and office supplies store. Recording in the 4. Ce Manual books of account is handwritten. This is the most of popular type of 5 Se__ books of account for small enterprises since itis less costly and easy to 6. Pu... LOGELWith the BIR. Loose-leaf Books of Account Loose-leaf books of account are printed and bounded journals and ledgers. Recording can be done using Microsoft Excel. Computerized Books of Account Computerized book of account is an accounting program that facilitate efficient and fast record keeping Books of Accounts — Minimum Requirements The type of books the business will maintain depends on many factors such as_ the size of the business and financial capacity. However, regardless ofthe type of book of accounts the company would maintain, below are the minimum requirement: General Journal General journal is referred to as the book of original entry. It records business transaction in order of date using the principle of “debit and credit’ General Ledger General ledger is referred to as the book of final entry. It summarized ail the Journal entries of an account to get the ending balances. Cash Receipt Journal Cash receipt journal is a special journal used to record cash sales and/or collection of receivables.