|
Guide to Record Retention
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|
ACCOUNTING
|
|
|
Accounts Payable Ledger
|
7 years
|
|
Accounts Receivable
Ledgers
|
7 years
|
|
Audit Reports
|
Permanent
|
|
Bank Deposits &
Statements
|
3 years
|
|
Bank Deposit Tickets
- duplicate
|
1 year
|
|
Bank Reconciliations
|
3 years
|
|
Cash Books
|
Permanent
|
|
Chart of Accounts
|
Permanent
|
|
Check Register
|
7 years
|
|
Cancelled Checks
(important payments)
|
Permanent
|
|
Cancelled Checks
(unimportant payments)
|
7 years
|
|
Credit History
|
Permanent
|
|
Expense Reports
|
7 years
|
|
Financial Statements
|
Permanent
|
|
General Ledgers
|
Permanent
|
|
Internal Audit Reports
|
5 years
|
|
Inventories (of
products, materials, and supplies)
|
7 years
|
|
Invoices: Customers
& Vendors
|
7 years
|
|
Journals
|
Permanent
|
|
Payroll Records
|
7 years
|
|
Petty Cash Records
|
3 years
|
|
Equipment Cost Ledgers
|
7 years
|
|
Property Appraisals
|
Permanent
|
|
Property Records
|
Permanent
|
|
Profit & Loss
Statements
|
Permanent
|
|
Royalty Computations
|
7 years
|
|
Sales Records
|
7 years
|
|
Subsidiary Ledgers
|
7 years
|
|
Tax Returns
|
Permanent
|
|
Travel Expense Reports
|
3 years
|
|
CORPORATE
RECORDS
|
|
Annual
Reports
|
Permanent
|
|
Cancelled
Stock & Bond Certificates
|
7 years
|
|
Capital
Stock & Bond Records
|
Permanent
|
|
Charters,
Constitutions, By-Laws, Minutes
|
Permanent
|
|
Contracts,
Leases and Agreements
|
Permanent
|
|
Copyrights
& Trademark Registrations
|
Permanent
|
|
Correspondence
- General
|
3 years
|
|
Correspondence
- Legal & Tax
|
Permanent
|
|
Deeds,
Mortgages & Easements
|
Permanent
|
|
Expired
Option Records
|
7 years
|
|
Incorporation
Records
|
Permanent
|
|
Labor
Contracts
|
Permanent
|
|
Patents
|
Permanent
|
|
Proxies
|
Permanent
|
|
Stockholders
& Transfer List
|
Permanent
|
|
GRANTS
|
|
Grantee
Award Records
|
3 years
|
|
Grantor
Award Records
|
3 years
|
|
INSURANCE
|
|
Insurance
Policies
|
3 years
|
|
Insurance
Records: Claims & Policies
|
Permanent
|
|
Insurance
Safety Reports: Fire & OSHA
|
7 years
|
|
PERSONNEL
|
|
Accident
Reports, Claims and Statements
|
Permanent
|
|
Disability
& Illness Reports
|
3 years
|
|
Employee
Application & Promotion Records
|
3 years
|
|
Employee
Termination Documentation
|
3 years
|
|
Employee
Time Records
|
7 years
|
|
Retirement
& Pension Records
|
Permanent
|
|
Training
Manuals
|
Permanent
|
|
W-2's
|
Permanent
|
|
PURCHASING
|
|
Bids
& Awards
|
3 years
|
|
Contracts
|
3 years
|
|
Purchase
Orders
|
3 years
|
|
Requisitions
|
3 years
|
|
Scrap
& Salvage Records
|
7 years
|
|
RECEIVING
& SHIPPING
|
|
Bills of
Lading
|
3 years
|
|
Bills of
Sale (important purchases)
|
Permanent
|
|
Freight
Bills
|
3 years
|
|
Postal
Records
|
1 year
|
|
Receiving
Documents
|
3 years
|
|
Shipping
Documents
|
3 years
|
