20:04:32:41Accounting records.

A satellite provider must keep accurate, complete, legible, and permanent records of each transaction relating to revenue that is taxable or subject to fees under SDCL chapter 42-7 and this article in a manner approved or required by the executive secretary. A licensee who keeps permanent records in a computerized form or on microfiche must provide the executive secretary's designee, on request, with a detailed index to the microfiche or computer record. A satellite provider must keep general accounting records on a double entry system of accounting, maintaining detailed, supporting, subsidiary records, including the following: (1) Detailed records identifying revenues, expenses, assets, liabilities, and equity for each establishment; (2) Detailed records of each returned check; (3) Information received from the tote company in regards to pari-mutuel wagering; and (4) Journal entries prepared by the licensee and its independent accountant. Each licensee must create and maintain a record sufficient to reflect accurately gross income and expenses relating to its pari-mutuel operations.

Source: 26 SDR 92, effective January 16, 2000.