Currently my application is using log4net to log errors, the web.config for this is as followed:
Like using the RollingFileAppender
edit
This is the whole log4net configuration section to roll everyday, the same as @lazyberezovsky answered just adding the log4net and root for clarification
edit2
this will create a file named 'gateway_' and at the end of the day (2012-04-27) it will be renamed as gateway_20120427.log and the next day (2012-04-28) it will create again the file gateway_ and at the end it'll create gateway_20120428.log.