what is day book report

What is a Daybook? Uses, Types, Advantages and Disadvantages

What is a daybook.

The journal entries are then summarized and transferred to create adjusted trial balances. These entries then form the basis of the financial statements of the reporting entity.

Why Businesses Use a Daybook?

When used separately, a daybook sets the basics of the bookkeeping system of a business. It is used to record all the details of a transaction chronologically as it occurs.

Types of Daybooks

There are several types of daybooks that a business can use. Growing businesses can use multiple daybooks for detailed bookkeeping records while a small business can use a combined daybook for all records.

Sales Daybook

Purchase daybook, cash daybook, general or multiple daybook, format of a daybook, transaction date, reference number, transaction details, counter party.

This column includes the gross or net amount of the transaction. If there are tax or other frequent adjustments, a daybook may contain two columns for gross and net amounts.

Ledger Account Reference

Tax/charges/adjustments, general ledger vs. daybook.

A general ledger is a collection of summarized accounts used by an entity in a bookkeeping system. These accounts are processed from the general journals created from daybooks.

Advantages of Using a Daybook

Disadvantages of using a daybook, related posts:.

Understanding Day Book in Accounting: Definition, Examples, and Importance

In the realm of accounting , a day book holds a significant role as a fundamental record-keeping tool. It serves as a chronological record where financial transactions of a business are first recorded before being categorized into appropriate ledgers. This article delves into the concept of day books, its importance, and practical examples to illustrate its usage.

Table of Contents

Key points about day book.

• Chronological Record : It records transactions in the order they occur, ensuring a systematic approach to bookkeeping.
• Primary Recording : Acts as a primary book of entry before transactions are posted into the general ledger.
• Transaction Details : Includes essential details such as date, description, amount, and accounts affected.

Understanding Day Book in Detail

A day book is essential for maintaining accurate financial records and ensuring transparency in business operations.

Components of a Day Book

• Date : Each transaction is recorded with its specific date, facilitating accurate chronological tracking.
• Details : Includes a brief description of the transaction, providing clarity on its nature and purpose.
• Accounts : Specifies the accounts affected by the transaction, enabling proper classification into ledgers.

Example of Day Book

Let’s consider a practical example to illustrate the usage of a day book:

• Date : January 1, 2024
• Transaction : Sale of merchandise to Customer A
• Details : Sold 100 units of Product X at $50 per unit
• Accounts : Revenue Account (Sales), Accounts Receivable (Customer A)

Importance of Day Book

Day books play a crucial role in ensuring accuracy and efficiency in financial reporting and analysis.

Benefits of Using Day Book

• Accuracy : Provides a clear and organized record of transactions, reducing errors in financial reporting.
• Audit Trail : Establishes a reliable audit trail for verifying transactions during internal audits or external reviews.
• Decision-Making : Facilitates informed decision-making by providing up-to-date financial information.

Practical Applications

Recording transactions.

• Daily Operations : Captures daily transactions such as sales, purchases, and expenses in real-time.
• Source Document : Serves as a source document for entries into subsidiary ledgers and the general ledger.

Types of Day Books

• Sales Day Book : Records sales transactions.
• Purchase Day Book : Records purchases made by the business.

Integration with Accounting Systems

• Manual vs. Automated : Can be maintained manually or integrated into automated accounting systems for efficiency and accuracy.

Compliance and Reporting

• Legal Requirements : Ensures compliance with regulatory requirements by maintaining accurate financial records.
• Financial Statements : Supports the preparation of financial statements such as income statements and balance sheets.

Tips for Effective Use

Best practices.

• Consistency : Ensure consistent and accurate recording of transactions.
• Review : Regularly review and reconcile day books with subsidiary ledgers for accuracy.

The day book serves as a foundational tool in accounting, providing a chronological record of business transactions essential for financial management and reporting. Its systematic approach to recording ensures transparency, accuracy, and compliance with regulatory standards. By understanding the purpose, components, and practical applications of day books, businesses can maintain robust financial records, facilitate informed decision-making, and support overall organizational success. Efficient utilization of day books enhances financial transparency, streamlines auditing processes, and contributes to the efficient management of business finances.

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You will get all the detailed information here., daybook report.

A daybook report is a concise summary of daily financial transactions recorded by a business or organization. It serves as a fundamental document in accounting, providing a chronological record of all financial activities within a specific time frame, typically a single day. This report typically includes details such as the date of each transaction, a description of the transaction (such as sales, purchases, expenses, or receipts), the amount involved, and any relevant accounts affected (such as cash, accounts receivable, accounts payable, etc.). Daybook reports play a crucial role in maintaining accurate financial records, facilitating financial analysis, and ensuring compliance with accounting standards and regulations. They serve as a basis for preparing financial statements, reconciling accounts, and monitoring the financial health of the business on a daily basis.

How to open the Daybook report:

• Go to the  Report  module in the left sidebar.
• Click on the  Daybook report  report button

On this page multiple filters are available and the user can export this report to PDF format and Excel format.

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Home » Business Accounting Blog » What is Daybooks? The Rules of Usage

What is Daybooks? The Rules of Usage

Daybook is a book of primary chronological registration. Daybooks in accounting is a reflection of the facts of economic life as they occur. After all, it is in this sequence that the company compiles the primary accounting documents, which are the basis for accounting.

The principle of the chronological record is demonstrated in the Daybooks.

In other words, you enter into the registration documents information about the operation upon its completion: first, you should register earlier operations, then-later, guided by the calendar sequence.

To determine the date of the transaction, follow the supporting documents:

• information on the performed works (services) enter on the date specified in the act;
• data on the received payment to register on the date of the bank statement;
• record the shipment (receipt) of the goods according to the date specified in the consignment note.

For example, according to the consignment note, products arrived at the warehouse 12.09.16. Then, the contractor completed the work on 14.09.16. According to the rules of filling the Daybooks, you must first register the receipt of the goods, and then enter information about the work performed. Now, you know the answer to “What is Daybooks?”

What are the Journals? The rules of usage

Journals are a type of accounting documents intended for registration, systematization, and accumulation of information contained in the primary documents accepted for accounting. Journals are not only the basis for the summary reflection of information on accounting accounts. Accountants use journals for the preparation of financial statements.

They divide journals by purpose into chronological and systematic registers and by the degree of a generalization of information into synthetic registers and analytical registers. For example, unlike Daybooks, Journals summarize information about accounting objects for a certain period, presenting summary data on turnover and balances in the context of synthetic accounts.

Let’s show what Journals are with an example. One of the most common Journals of synthetic accounting, widely used by accountants in the preparation of the balance sheet, is the balance sheet. This Journal provides information on the balance at the beginning of the period, the turnover for the period, and the balance at the end of the period for each synthetic account for a certain period. Naturally, we would present balance and turnover information separately on the debit and credit of the respective accounts. Now, you know what Journals are. 

What are Ledgers, the rules of usage

The Ledgers in the accounting function as a single consolidated register. Ledgers contain summary information on all accounting accounts, which are provided by the working plan of accounts of the company. Data is reported by month and for the full reporting year. The basis for filling in the Ledgers is ordered from Journals (register on accounts), which reflect the initial balances as of January 1, credit, and debit turnover for the period with the final balance withdrawn.When maintaining the Ledgers, it is necessary to compare the totals of debit and credit records (turnover and balance are analyzed separately). If the accountant made the entries in the document correctly, the results of the debit and credit book would be identical. If discrepancies are detected, it is necessary to check the correctness of posting in the Ledgers and the accuracy of the original accounting registers. Now, you know what is Ledgers.

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Day Book report in Tally

The Day Book lists all transactions made in a particular day and by default displays the last voucher entry date of a regular voucher. It could also be set up to list all the transactions made over a certain period. Transactions include all financial vouchers, reversing and memorandum journals as well as inventory voucher

Day Book Reports in TallyGraphs

View the list of transactions completed on the day using TallyGraphs and get an idea of the day.

Key Highlights

• Company-wise Invoice Details
• Cost centre wise details
• Salesperson wise details

More Details

Dashboard for Day Book

Using this Custom App, you can track the Cost centre-wise Ledger Summary. This report enables you to view your Ledger wise summary along with voucher types.

• Cost centre wise ledger summary
• Ledger group-wise summary
• Voucher type-wise ledger summary

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Day  Book in TallyPrime

Day Book in TallyPrime is an account book in which a day’s entries or transactions are captured. TallyPrime stays true to the traditional Day Book used by businesses for manual bookkeeping while bringing in a host of powerful features like viewing the profitability of sales, inserting a voucher right from the report into the books, viewing only a particular type of transactions, and so on.

In  any business, it is important to have a daily report of your business to gauge the performance in terms of sales, purchases, profitability,  and much more. You may also want to view a particular type of voucher recorded in a day or even a type of accounting entry to analyse the course of your business.

All such requirements are covered in the Day Book report of TallyPrime. But most importantly this report not only lets the user view but also perform some important actions to update the books directly.

What if while going through your Day Book report you come across a voucher that was added by mistake or you find a voucher with errors? Well, do not worry as you can select multiple transactions at once and cancel, delete, or remove the entries from the Day Book. Similarly, you can verify your transactions, and account for any missing entries by adding, inserting, or duplicating entries.

View Day Book in TallyPrime

Day Book in TallyPrime hosts a powerful pack of features that will make your life easy while working around transactions recorded in a day or any period. The best part about this report in TallyPrime is that it maintains the originality of the traditional Day Book used by businesses for manual bookkeeping and at the same time provides so many features to tailor the experience as required. Right from altering vouchers to duplicating them, and changing the view of the report to checking profit, Day Book in TallyPrime delivers all.   And to know more about the experience of using  reports  in TallyPrime, refer to  Working with Reports in TallyPrime .

In this section

View Day Book

• View Day Book by type of transaction
• Hide transactions
• Restore hidden transactions

View profitability

• View Optional/Cancelled/Post-dated vouchers

View Day Book by Type of Transaction

You can also see the  Total  amount from your debit  notes . Similarly, you can see all the Purchase or Sales or any voucher recorded in a day or a period.

Hide a transaction

Did you know that you can temporarily hide entries from the Day Book, without deleting it from your books? Let us assume that you want to view the transactions for November 2022 without the purchase entries with voucher number 4 against  Sheetal Enterprise  because you want to prioritize and plan payments to other parties right now. 

On the Day Book report,

• Press  F4  (Voucher Type) >  Purchase . You can view all the purchase transactions of the day.

Restore a removed/hidden transaction

• To restore the last entry that was hidden, press  Ctrl + U . Similarly, you can keep pressing  Ctrl + U  to undo and the entries will be restored in the order in which they were hidden.
• To restore all the hidden entries at once, press  Alt + U .

If you are viewing the Day Book for Sales voucher type, press  F7  (Show Profit) to see the  Gross Profit  against the  Transaction Value  and  Cost . You can use  F7  (Hide Profit) to hide the profit-related details.

View Optional/Cancelled/Post-dated Vouchers | Exception Reports

You can view the exceptions related to the data displayed in the current report by pressing  Ctrl + J  (Exception Reports), without closing the report. The Exception Reports available in the Day Book in TallyPrime are of Optional Vouchers, Cancelled Vouchers, and Post-Dated Vouchers.

• To view the  List of Optional Vouchers  for  Day Book , press  Ctrl + E  (Exception Reports) > type or select  Optional Vouchers  > and press  Enter .
• Press  Esc  to view the default report.

Stripe View in Day Book

You can enable Stripe View for Day Book through F12 configuration. After doing so, you can view the report with stripes, ensuring a neat representation of data with maximum readability. In case, you wish to enable Stripes for all the reports, including Day Book, you can enable it at the application level . 

To enable Stripe View only for Day Book:

• Open Day Book > p ress F12 (Configure) > set Enable Stripe View to Yes .

Once you have enabled Stripe View for Day Book, you can view the report, as shown below:

Similarly, you can enable Stripe View and Print, Export, as well as Share the reports and vouchers with your parties for better readability.

To know more, refer to the Stripe View section in the Working with Reports in TallyPrime topic.

Find  a Transaction Within Your Day  Book

If your business has hundreds or thousands of transactions, it can get difficult if you are trying to find a particular transaction. Here is how the Day Book in TallyPrime will help you find it easily.

Let us assume that you have made an import of goods from the USA but you are unable to find more details about this. You feel that you might have added a note in the narration of the transaction.

Before using the Apply Filter feature, press  Alt + F2  and clear the  From  and  To  dates. Now you can see all your transactions till date.

• Open  Day Book  and press  Ctrl + F  (Apply Filter).

On the Basic Filter screen, you can also press  F6  (Multi-Filter) and  F7 (Advanced Filter) to explore more filter options. To learn more about report filters, you can refer to the Apply Filter in Reports | Basic Filter, Multi-Filter, Advanced Filter topic.

View Day Book by Type of Voucher Entries

• Select  Type of Voucher entries  and press  Enter . The  Report Details  screen appears.
• Accounting Entries Only :   It displays Day Book for only accounting vouchers such as Sales, Purchase, Payment, Debit Note, Credit Note, and others. 
• All Vouchers : It displays Day Book for all the vouchers, irrespective of the type of voucher. 
• Inventory Entries Only :   It displays Day Book for only inventory vouchers such as Journal Vouchers for stock items, Delivery Note, Physical Stock Voucher, and others.
• Press  Ctrl + A  to save the setting.

Add, Insert, or Duplicate a Transaction

While dealing with transactions in your business, there are possibilities of missing an entry or of a situation where you will need to make an entry while going through your Day Book report. In some business cases, a particular transaction like a monthly EMI might get repeated frequently or some regular transactions like the counter sale of an item have to be duplicated for faster and accurate data entry. Also, in certain scenarios, a voucher has to be inserted in the exact sequence of voucher number of the voucher type for proper sequencing. Day Book in TallyPrime takes care of all these situations. You can add a transaction in the Day Book as and when required, you can also insert a transaction at an exact position, and duplicate any transaction. Moreover, all this can be done while maintaining the proper sequence in the chronology of the voucher number.

Also, when you add, insert, delete, or duplicate transactions then it becomes vital to adjust the numbers of vouchers that comes after the new voucher is created for the proper sequencing of transactions in the books. To do so, all you have to do is set the voucher numbering method to automatic in TallyPrime. In the case of Edit Log being enabled, all such automatic alterations in the voucher number are recorded and an edit log is created in all such vouchers that are impacted.

Add a transaction

Insert a transaction, duplicate a transaction.

Day Book in TallyPrime provides you the flexibility to directly add a voucher from the report screen to account for an entry. For example, let us assume that you make a purchase from one of your parties (Akshaya Traders WB) of Rs 80,000 on Dec 5, 2022.

Now you can add a purchase entry directly and hand over the payment.

• Open Day Book and press  Alt + A  (Add Vch) to add a new transaction.
• Enter the necessary details and save the transaction.

If the voucher numbering is set to automatic and you add a voucher, it gets added to t he last position of that voucher type for the selected date and all the remaining vouchers of that particular type are renumbered. For example, if there are 5 sales vouchers in your books and you add one, then a sales voucher gets added at the last position with voucher number 6 and the existing sales voucher with numbers from 6 recorded in the subsequent dates  will be renumbered accordingly.

If you want to add a transaction in the exact chronological order of the voucher type for the proper sequencing of the voucher number, then you can insert it directly in the Day Book .

Let us take a scenario where you discover that three entries of the same amount had been passed on the same day. You think that one of them might be a duplicate, so you delete it.

However, your data entry operator points out that it was a unique entry.

Now, how can you retrieve the original entry with the same voucher number and position? Easy. You can insert this entry. The voucher number and position will be restored.

Select the entry above which you want to insert the transaction,

• Press  Alt + I  (Insert Vch).
• Enter the relevant details and save the transaction.

Now you will be able to see both the entries on the specified date in the Day Book, with the original voucher numbers and amounts.

If you insert a voucher between two vouchers with the method of voucher numbering set to automatic, then all the existing vouchers of that particular type recorded on all subsequent days are renumbered. For example, if you insert a sales voucher between sales voucher numbers 2 and 3, then the inserted voucher will attain voucher number 3 and the existing voucher number 3 will be listed as voucher number 4 for the proper sequencing of the voucher numbers. Consequently, all the existing sales vouchers recorded on all subsequent days will be renumbered.

You can duplicate a voucher in the Day Book in TallyPrime to easily account for a recurring transaction. Let us take a scenario where your business has a deal with Akshaya Traders WB to purchase a consignment for two consecutive months.

You have passed a purchase entry for November. Now you can easily repeat this transaction for the next month.

 Select the existing entry and,

• Press  Alt + 2  (Duplicate Vch).
• On the Accounting Voucher Creation (Duplication) screen, press F12 (Configure) and set Use default Bill-wise details for Bill Allocation to No .
• Update all the relevant voucher details like invoice number, party details, ledger, item details and so on, as required.

• Enter the Narration , if any. As always, press Ctrl + A to save the voucher.

If the voucher numbering is set to automatic and you duplicate a voucher without changing the date then the new voucher will take the next available voucher number of that particular voucher type of that day. And, if the date of the duplicated voucher is changed then the duplicated voucher will take the last voucher number of that particular voucher type of the new date.

Delete or Cancel a Transaction

In some cases, a transaction gets recorded unintentionally and has to be deleted to avoid any error in the values in the books of accounts. Also, in case of order cancellation, the voucher recorded against it has to be cancelled. Day Book in TallyPrime provides all the flexibility to handle these uncertainties regarding unwanted transactions and maintain your books as you want. You can easily delete, and cancel entries at your fingertips using TallyPrime.

Delete a transaction

Cancel a transaction.

Let us take a scenario where you discover that two vouchers have been recorded for the same transaction and you want to delete one of the entries.

• Select the entry which you want to delete, and press  Alt + D  to delete it from your books.

What do you do when an order is canceled but a sales voucher has already been passed? Simple! You can just cancel the corresponding voucher, instead of deleting it. The benefit is that voucher numbering will not be affected, as the same voucher number will be available for reuse. It will be assigned in your books to the canceled voucher list.

Let us take a scenario where you place an order with Akshaya Traders WB and you record a corresponding purchase entry. However, a representative from the sales department of Akshaya Traders WB calls your office and cancels the order at the last minute due to a shortage of supply.

Now, how do you cancel the transaction?

• Select the relevant entry in the Day Book and press  Alt + X  to cancel.

When you cancel a voucher with the voucher numbering method set to automatic, the voucher number gets retained. It can be used later to create a voucher with the same number for proper sequencing in the chronological order of the voucher numbers.

View Altered and Deleted Vouchers in Day Book When Using Edit Log

• In Day Book, press  Ctrl + B  (Basis of Values). The  Basis of Values  sub-screen appears.
• Select  Show Report for  which will be set to  All Vouchers (Altered & Non-Altered)  by default   and press  Enter . The  Report Details  screen appears.

If you select  Non-Altered Vouchers , then the report will open for vouchers that are never altered in TallyPrime. Consequently, the option  Include Deleted Vouchers  will be set to  No . You cannot set it to  Yes , if you are viewing the report for Non-Altered Vouchers, as deletion is also a form of alteration.

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