Arkansas Code
Chapter 59 - Arkansas Municipal Accounting Law
§ 14-59-110. Cash receipts journals

(a)
(1) Municipalities shall establish a cash receipts journal or an electronic receipts listing that shall indicate:
(A) The receipt number;
(B) The date of the receipt;
(C) The payor;
(D) The amount of the receipt; and
(E) Classification or general ledger account.

(2) The classification of the receipts shall include the major sources of revenue, such as:
(A) State revenues;
(B) Property taxes;
(C) Sales taxes;
(D) Fines, forfeitures, and costs;
(E) Franchise fees;
(F) Transfers in; and
(G) Other.

(b)
(1) All items of receipts shall be posted to and properly classified in the cash receipts journal or electronic receipts listing.
(2)
(A) The journal shall be properly balanced and totaled monthly and on a year-to-date basis.
(B) The journal shall be reconciled monthly to total bank deposits as shown on the municipalities' bank statements.

(3) The electronic receipts listing shall be posted to the general ledger at least monthly. The general ledger shall be reconciled monthly to total bank deposits as shown on the municipalities' bank statements.