Accounting Bookkeeping: What It Is and Why It Matters

Having its formalities expressed in Decree of Law 486/1969, bookkeeping can also be known as "mercantile or commercial bookkeeping" and "tax or fiscal bookkeeping"

A bookkeeping is essential for running a business. Every entity must keep a record of its administrative, accounting and tax activities, not only for the legal aspect, but also for the company to have its data and history stored in a reliable and usable way for the preparation of future market strategies and administrative maintenance.

What is bookkeeping?

It is defined as “the chronological and specific record of the nature of all the facts that occur in the company” (source). It may also be known as "commercial or commercial bookkeeping" or "tax or fiscal bookkeeping", this procedure has as one of its main purposes to provide interested people with information about a specific asset related to the business.

As with other accounting procedures, the bookkeeping must follow the appropriate standards established by the industry.

If the company has branches, there is the option of non-centralized accounting. On the other hand, when referring to bookkeeping, the head office must have the reports and numbers of each of its other offices, following article 252 of Decree n. 3.000/99.

In Brazil, commercial bookkeeping became digital from 2008 and 2009, causing companies to start using SPED, Public Digital Bookkeeping System. SPED aims to unify the reception, validation, storage and authentication of books and documents that are part of the accounting and tax bookkeeping of Legal Entities, through a computerized flow of information.

Consultancy for the generation of bookkeeping:

TATICCA Auditores e Consultores has a team with over 20 years of experience in accounting audit consultancy, taxes, advice, among others. We work with bookkeeping processes, including Generation of accounting SPED/ECD (Digital Accounting Bookkeeping).

Count on one of the most qualified and traditional audits to help your company. Get in touch by email or by phone (11) 3062-3000 and learn more.