Daybook definition
/What is a Daybook in Accounting?
A daybook is a book of original entry in which an accountant records transactions by date, as they occur. These transactions are recorded in chronological order, where each one is recorded in the order in which it occurred. This results in a set of records that start at the beginning of a reporting period, and progress to the end of the reporting period. By capturing all daily transactions, daybooks help ensure that all transactions are accounted for and support audit trails for verification.
This information is later transferred into a ledger, from which the information is summarized into a set of financial statements. Daybooks are only used in a manual accounting environment, and so are not commonly found in a modern accounting system.