|
Records
Retention Schedule
|
Record
Type
|
Retention
Period |
Record
Type |
Retention
Period |
| Accident
reports and claims (settled cases) |
7
yrs |
Invoices
to customers |
7
yrs. |
| Accounts
payable ledgers and schedules |
7 yrs. |
Invoices
from vendors |
7
yrs. |
| Accounts
receivable ledgers and schedules |
7
yrs. |
Journals |
Permanently |
| Audit
reports of accountants |
Permanently |
Minute
books of directors and stockholders, including by-laws and charter |
Permanently |
| Bank
reconciliations |
1 yr. |
Notes
receivable ledgers and schedules |
7 yrs. |
Capital
stock and bond records; ledgers, transfer
registers, stubs showing issues, record ofinterest coupons, options, etc.
|
Permanently
|
Option
records (expired) |
7
yrs. |
| Cash
books |
Permanently |
Payroll
records and summaries, including payments to pensioners |
7
yrs. |
| Charts
of accounts |
Permanently |
Petty
cash vouchers |
3 yrs. |
| Checks
(cancelled but see exception below ) |
7 yrs. |
Physical
inventory tags |
3
yrs. |
Checks
(cancelled for important payments, i.e., taxes Plant cost ledgers . . .
. . . . . . . . . . . . . . . . . . . . . . 7 yrs.
purchases of property, special contracts, etc.
(checks should be filed with the papers pertaining to the underlying transaction) |
Permanently |
Property
appraisals by outside appraisers |
Permanently
|
| Contracts
and leases (expired) |
7
yrs. |
Property
records-including costs, depreciation reserves, end-of-year trial balances,
de-
preciation schedules, blueprints and plans |
Permanently |
| Contracts
and leases still in effect |
Permanently
|
Purchase
orders ( except purchasing department copy) |
7
yrs. |
| Correspondence
(routine) with customers or vendors |
1
yr. |
Purchase
orders (purchasing department copy) |
7
yrs. |
| Correspondence
(general) |
3
yrs. |
Receiving
sheets |
1
yr. |
| Correspondence
(legal and important matters only) |
Permanently
|
Requisitions |
1
yr. |
| Deeds,
mortgages, and bills of sale |
Permanently
|
Sales
records |
7
yrs. |
| Depreciation
schedules |
Permanently
|
Savings
bond registration records of employee |
3
yrs. |
| Duplicate
deposit slips |
1 yr. |
Scrap
and salvage records (inventories, sales, etc.) |
7
yrs. |
| Employee
personnel records (after termination) |
3
yrs. |
Stenographer's
notebooks |
1
yr. |
| Employment
applications |
3
yrs. |
Stock
and bond certificates (cancelled) |
7
yrs. |
| Expense
analyses and expense distribution schedules |
7
yrs. |
Stockroom
withdrawal forms |
1
yr. |
| Financial
statements (end-of-year, other months optional) |
Permanently |
Subsidiary
ledgers |
7
yrs. |
| General
and private ledgers (and end-of-year trial balances) |
Permanently |
Tax
returns and worksheets, revenue agents' reports and other documents relating
to determination of income tax liability |
Permanently |
| Insurance
policies (expired) |
3
yrs. |
Time
books |
7
yrs. |
Insurance
records, current accident reports, claims
policies, etc |
Permanently |
Trade
mark registrations |
Permanently |
| Internal
audit reports (in some situations, longer retention periods may be desirable) |
7
yrs. |
Voucher
register and schedules |
3
yrs. |
| Internal
reports (miscellaneous) |
3
yrs |
Vouchers
for payments to vendors, employees, etc. (includes allowances and reimbursement
of employees, officers, etc., for travel and entertainment expenses) |
7
yrs. |
| Inventories
of products, materials, and supplies |
7
yrs. |
|
|
