Document retention
From Wikicpa
Document retention timetable:
| Document | Retain For |
|---|---|
| Accident Reports | 7 years |
| Accounts Payable/Receivable Ledger | 7-10 years |
| Audit Reports | Permanent |
| Bank Reconciliations | 1 year or as needed |
| Capital Stock and Bond Records | Permanent |
| Cash Books | Permanent |
| Chart of Accounts | Permanent |
| Check (canceled, routine) | 7 years |
| Check (canceled, important) | Permanent |
| Corporate Records (stock, board minutes) | Permanent |
| Contracts and Leases (expired) | 3 years |
| Contracts and Leases in effect | 7 years |
| Correspondence (general) | 3 years |
| Correspondence on Legal Matters | Permanent |
| Deeds, Mortgages, Bills of Sale | Permanent |
| Depreciation Schedules | Permanent |
| Duplicate Deposit Slips | 1 year |
| Employee Personnel Records (terminated) | 7 years |
| Employment applications | 3 years |
| Expense Analyses and Distribution Schedules | 7 years |
| Financial Statements | Permanent |
| General and Private Ledgers | Permanent |
| Insurance Policies (expired) | 3 years |
| Insurance Records, Claims, Policies | Permanent |
| Internal Audit Records | 3 years |
| Inventories | 7 years |
| Invoices | 7 years |
| Journals | Permanent |
| Notes Receivables Ledgers | 7 years |
| Option Records (expired) | 7 years |
| Payroll Record Summaries | 7 years |
| Petty Cash Vouchers/Receipts | 3 years |
| Physical Inventory Tags | 3 years |
| Plant Cost Ledger | 7 years |
| Property Appraisals | Permanent |
| Property Records | Permanent |
| Purchase Orders | 1 year |
| Purchase Orders (purchasing dept. copy) | 7 years |
| Receiving Sheets | 1 year |
| Requisitions | 1 year |
| Sales Records | 7 years |
| Savings Bond Records | 3 years |
| Scrap and Salvage Records | 7 years |
| Stenographer’s Notebooks | 1 year |
| Stock and Bond Certificates (canceled) | 7 years |
| Subsidiary Ledgers | 7 years |
| Tax Returns (1 copy) and Worksheets, Permanent, Time Books | 7 years |
| Trade Mark Registrations | Permanent |
| Voucher Register/Schedules | 7 years |
| Vouchers for Payments to Vendors and Employees | 7 years |
