New Mexico Administrative Code
Title 18 - TRANSPORTATION AND HIGHWAYS
Chapter 3 - MOTOR CARRIER GENERAL PROVISIONS
Part 7 - REPORTS, RECORDS, AND ACCOUNTS
Section 18.3.7.16 - ACCOUNTS
Current through Register Vol. 35, No. 6, March 26, 2024
A. Maintenance of accounts required. Every motor carrier operating pursuant to a certificate or permit shall maintain a system of accounts in connection with its intrastate transportation business in New Mexico, and documentation in support of the accounts.
B. Generally accepted accounting principles. Every motor carrier operating pursuant to a certificate or permit shall maintain its accounts in conformity with generally accepted accounting principles (GAAP) issued by the financial accounting standards board.
C. Verification of entries. Every motor carrier operating pursuant to a certificate or permit shall document all accounting entries and shall file all documentation in an orderly and systematic manner. All expenditures shall be fully supported by vouchers, receipts, canceled checks, or other original memoranda. All revenues shall be supported by invoices or other original memoranda.
D. Required documentation. At a minimum, documentation shall include: