Section 824 IAC 2-7-2 - Financial records to be maintainedAuthority: IC 26-3-7-3
Affected: IC 26-3-7-28
Sec. 2.
(a) In addition to the records required in section 1 of this rule, the licensee shall keep and maintain adequate financial records as will clearly reflect the licensee's current financial position. These records shall include a general ledger or its equivalent which provides a summarization of information reflected in detail in subsidiary records, which may include: (1) a general journal in which periodic adjusting entries are recorded;(2) a cash receipts journal;(3) a cash disbursements journal;(4) periodic detailed aging of accounts receivable;(5) periodic listing of accounts payable;(6) other relevant supporting documents.(b) Licensees shall keep a current and accurate checkbook balance.Indiana Grain Buyers and Warehouse Licensing Agency; 824 IAC 2-7-2; filed Jan 19, 2001, 3:04 p.m.: 24 IR 1659; readopted filed Nov 16, 2007, 2:00 p.m.: 20071212-IR-824070667RFA; readopted filed November 27, 2013, 1:30 p.m.: 20131225-IR-824130492RFAReadopted filed 11/1/2019, 10:20 a.m.: 20191127-IR-824190178RFA