|
|
|
General Retention Schedule for Business Records Are you wondering how long you should retain business records. Below is a guide: Accident Reports/ Claims (Settled Cases) -- 7 Years ___________________________________________________________________ Accounts Payable Ledgers and Schedules -- 7 Years ___________________________________________________________________ Accounts Receivable Ledgers and Schedules -- 8 Years ___________________________________________________________________ Audit Reports -- Permanently ___________________________________________________________________ Bank Statements -- 7 Years ___________________________________________________________________ Capital Stock and Bond Records -- Permanently ___________________________________________________________________ Ledgers, Transfer Registers, Stubs Showing Issues, ___________________________________________________________________ Charts of Accounts -- Permanently ___________________________________________________________________ Checks (Cancelled Checks for Important Payments, Special Contracts, Purchase of Assets, Payment of Taxes, Etc.) Checks should be filed with the papers Pertaining to the underlying transaction -- Permanently ___________________________________________________________________ Checks (Cancelled except those noted above) -- 7 Years ___________________________________________________________________ Contracts and Leases (Expired) -- 7 Years ___________________________________________________________________ Contracts and Leases Still In Effect -- Permanently ___________________________________________________________________ Correspondence, General and Schedules -- 2 Years ___________________________________________________________________ Correspondence, Legal and Important Letters -- Permanently ___________________________________________________________________ Correspondence, Routine with Customers/Vendors -- 2 Years ___________________________________________________________________ Deeds, Mortgages and Bills of Sale -- Permanently ___________________________________________________________________ Depreciation Schedules -- Permanently ___________________________________________________________________ Employee Personal Records (After Termination) -- 10 Years ___________________________________________________________________ Employment Applications -- 3 Years ___________________________________________________________________ Financial Statements (Year-end, Other months optional) -- Permanently ___________________________________________________________________ General Ledgers, Year-end Trial Balances -- 7 Years ___________________________________________________________________ Insurance Records, Policies, Etc. -- Permanently ___________________________________________________________________ Internal Audit Reports -- 7 Years ___________________________________________________________________ Inventory Records -- 7 Years ___________________________________________________________________ Invoices to Customers or From Vendors -- 7 Years ___________________________________________________________________ IRA and Keogh Plan Contributions, Rollovers, Transfers and Distribution -- Permanently ___________________________________________________________________ Minute Books of Directors, Stockholders, Bylaws and Charter -- Permanently ___________________________________________________________________ Payroll Records, Summaries and Tax Returns -- 7 Years ___________________________________________________________________ Petty Cash Vouchers -- 7 Years ___________________________________________________________________ Property Records, Including Cost, Depreciation Reserves, Year-end Trial Balances, Depreciation Schedules, Blueprints, and Plans -- Permanently ___________________________________________________________________ Purchase Orders -- 7 Years ___________________________________________________________________
___________________________________________________________________ Safety Records -- 10 Years ___________________________________________________________________ Sales Records -- 7 Years ___________________________________________________________________ Stock and Bond Certificates (Cancelled) -- Permanently ___________________________________________________________________ Subsidiary Ledgers -- 7 Years ___________________________________________________________________ Tax Returns, Revenue Agents’ Reports, and Other Documents -- Permanently ___________________________________________________________________ Time Cards and Daily Reports -- 7 Years ___________________________________________________________________ Trademark Registrations, Patents, and Copyrights -- Permanently ___________________________________________________________________ Voucher Register and Schedules -- 7 Years ___________________________________________________________________ Vouchers for Payments to Ventors, Employees, etc. (Includes Allowances and Reimbursements of Employees, Officers, etc., for Travel and Entertainment Expenses -- 7 Years ___________________________________________________________________ The information contained in the above schedule is merely a guide. You are urged to consult your company’s accounting and legal consultants to review and approve your final schedule. Document Service Company Phone: 419-422-3330 Document Service Company is a division of Findlay's Tall Timbers Distribution Center, Inc.
|
 |