Should I use a separate table in a .PHP application for all areas?

http://ift.tt/1iZHv9S

I am creating a .PHP based application which will record accounting entries for specific areas. To handle entries, I am creating a separate table for all areas.

The table name will include the area name as well as the date on which it was created and the table will contain a unique ID, particulars, debit and credit.

So, my question is: Should I create separate table for all areas, will it affect the performance?

Post and answer: Should I use a separate table in a .PHP application for all areas?