Records	Retention Years
Accident reports/claims (settled cases)	7
Accounts payable ledgers	7
Accounts recievable ledgers	7
Audit reports	permanently
Bank reconciliations	3
Bank statements	7
Bank deposit slips	3
Capital stock and bond records	permanently
Cash Books	permanently
Charts of accounts	permanently
Checks (canceled- see exception below)	7
Checks- for important payment purchases	permanently
Contracts, mortages, notes, and leases (expired)	7
Contracts, mortages, notes and leases (current)	permanently
Correspondence (general)	2
Correspondence (legal and important matters only)	permanently
Correspondence (routine) with customers and/or vendors	2
Deeds, mortgages, and bills of sale	permanently
Depreciation schedules	permanently
Duplicate deposit slips	3
Employment applications	3
Expense analyses/expense distribution schedules	7
Financial statements (year-end, other optional)	permanently
General/private ledgers, year-end trial balance	permanently
Insurance poilicies (expired)	3
Insurance records, current accident reports, claims, policies, etc	permanently
Inventories of products, materials, and supplies	7
Invoices (to customers, from vendors)	7
Journals	permanently
Minute books of directors, stockholders, bylaws, and charter	permanently
Notes recievable ledgers and schedules	7
Option records (expired)	7
Patents and related papers	permanently
Payroll records and summaries	7
Personnel files (terminated)	7
Petty cash vouchers	3
Physical inventory tages	3
Property appraisals by outside appraisers	permanently
Property records	permanently
Purchase orders	7
Recieving sheets	1
Retirement and pension records	permanently
Sales commission reports	3
Sales records	7
Scrap and salvage records	7
Stock and bond certificates (canceled)	7
Subsidiary ledgers	7
Tax returns and worksheets, revenue agents' reports and other documents relating to determination of income tax liability	permanently
Time books/cards	7
Trademark registrations and copyrights	permanently
Voucher register and schedules	7
Withholding tax statements	7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The above schedule is a guideline for your records retention. If you have questions about when to dispose of specific records, we encourage you to contact us or your attorney for guidance.

The retention periods indicated begin at the end of the fiscal year during which the document was created. For documents supporting tax returns, the retention period begins on the filing date of the return of its due date, which ever is later.