Code of Massachusetts Regulations
840 CMR - PUBLIC EMPLOYEE RETIREMENT ADMINISTRATION COMMISSION
Title 840 CMR 4.00 - Financial Operations/standard Method of Accounting
Section 4.01 - Definitions

Universal Citation: 840 MA Code of Regs 840.4
Current through Register 1531, September 27, 2024

Accounting Period - January 1st through December 31st.

Adjusting Journal - contains all entries that do not involve cash.

Cash Books - includes the following reports: cash receipts, cash disbursements, adjusting journal entries, trial balance and general ledger.

Cash Disbursements Journal - contains entries of all cash disbursements from the system.

Cash Receipts Journal - contains entries of all cash receipts into the system.

Extension - when PERAC allows a board, upon a written request, to submit the Annual Statement by June 1st rather than May 1st.

General Ledger - a means for keeping record of the system's total financial accounts. It includes all accounts, entries and balances for: Assets, Liabilities, Funds, Receipts and Disbursements.

Pre-close Trial Balance/General Ledger - lists all ledger accounts and balances before the closing entries are made.

Post-close Trial Balance/General Ledger - produced after the closing entries are made to zero out the receipts and disbursements accounts.

Trial Balance - list of all ledger accounts showing a beginning balance, debits, credits, and ending balance.

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