26 Tex. Admin. Code § 356.1001 - Accounting System Requirements
A center must maintain an accounting system and records that:
(1) follow Generally Accepted Accounting Principles (GAAP);
(2) record revenue and expenditures;
(3) establish a chart of accounts
that lists all accounts by an assigned number;
(4) contain a general ledger and subsidiary
ledgers;
(5) maintain accounting documentation for all revenue and expenditures, including:
(A) receipts or vouchers for revenue;
(B) bank statements reconciled to
the general ledger bank accounts;
(C) journal entry justification;
(D) canceled checks;
(E) deposit slips;
(F) approved invoices;
(G) receipts;
(H) leases;
(I) contracts;
(J) time and activity sheets;
(K) inventory; and
(L) cost allocation and indirect cost worksheets;
(6)
identify all funding sources and expenditures by separate fund type; and
(7) use a double-entry
accounting system, either cash, accrual, or modified accrual.
Notes
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The contractor must maintain an accounting system and records that:
(1) records revenue and expenditures using generally accepted accounting principles;
(2) includes a chart of accounts that lists all accounts by an assigned number;
(3) contains a general ledger and subsidiary ledgers;
(4) maintains supporting documentation for all revenue and expenditures, including, but not limited to:
(A) receipts or vouchers for revenue;
(B) bank statements reconciled to the general ledger bank accounts;
(C) canceled checks;
(D) deposit slips;
(E) approved invoices;
(F) receipts;
(G) leases;
(H) contracts;
(I) time sheets;
(J) inventory; and
(K) cost allocation worksheets;
(5) identifies all funding sources and expenditures by separate fund type; and
(6) uses a double-entry accounting system, either cash, accrual, or modified accrual.