I have a site in PHP on Apache. Is there a way I can define settings in Parallels Plesk Panel for logging for e.g. it should create log file for each day?
Currently my access_log file size is more than 700MB and error_log file size is more than 500MB.
You can switch on "Log rotation" on domain in Plesk Panel, there are settings for rotation logs "by time" or "by size". I assume that log rotation just not enabled for your web site.