Tenn. Comp. R. & Regs. 0780-01-27-.26
Each association shall maintain adequate and accurate books of accounts, including a General Ledger and such registers and subsidiary records as may be essential. No system or method of accounting is prescribed other than the double entry system. The General Ledger shall be posted with pen and ink or by other permanent methods which shall show the necessary dates, explanatory details and posting references. All Journal Entries, Cash and Check Disbursements shall be substantiated by properly approved vouchers and the records posted in such manner as to distinguish between cash and non-cash items. The accounting procedures used shall truly, accurately and honestly reflect the affairs of the association.
Tenn. Comp. R. & Regs. 0780-01-27-.26
Authority: T.C.A. §45-1303.