| Accidents reports/claims
(settled cases) |
7 years |
Notes receivable ledgers and schedules |
7 years |
| Accounts payable ledgers
and schedules |
7 years |
Option records (expired) |
7 years |
| Accounts receivable
ledgers & schedules |
7 years |
Patents and related papers |
Permanently |
| Audit reports |
Permanently |
Payroll records and summaries |
7 years |
| Bank reconciliations |
2 years |
Personnel files (terminated) |
7 years |
| Bank statements |
2 years |
Petty cash vouchers |
3 years |
| Capital stock and bond records;
ledgers, transfer registers, stubs showing issues, records of interest coupons, options,
etc. |
Permanently |
Physical inventory tags |
3 years |
Cash books |
Permanently |
Plant cost ledgers |
7 years |
| Charts of accounts |
Permanently |
Property appraisals by outside appraisers |
Permanently |
| Checks (canceled--see exception below) |
7 years |
Property records, including costs, depreciation
reserves, year-end trial balances,
depreciation schedules, blueprints,
and plans
|
Permanently |
Checks (canceled for important payments, i.e. taxes, purchases of property,
special contracts, etc. Checks should be filed with the papers pertaining to the
underlying transaction). |
Permanently |
Purchase orders (except
purchasing department copy) |
1 year |
Contracts, mortgages, notes and leases
(expired) |
7 years |
Purchase orders (purchasing
department copy) |
7 years |
| Contracts, mortgages, notes and leases (still
in effect) |
Permanently |
Receiving sheets |
1 year |
| Correspondence (general) |
2 years |
Retirement and pension records |
Permanently |
| Correspondence (legal and important matters
only) |
Permanently |
Requisitions |
1 year |
Correspondence (routine) with customers and/or vendors |
2 years |
Sales commission reports |
3 years |
| Deeds, mortgages, and bills of sale |
Permanently |
Sales records |
7 years |
| Depreciation schedules |
Permanently |
Scrap and salvage records (inventories sale,
etc.) |
7 years |
| Duplicate deposit slips |
2 years |
Stenographers' notebooks |
1 year |
| Employment applications |
3 years |
Stock and bond certificates (cancelled) |
7 years |
| Expense analyses/expense distribution
schedules |
7 years |
Stockroom withdrawl forms |
1 year |
| Financial statements (year-end, others
optional) |
Permanently |
Subsidiary ledgers |
7 years |
| Garnishments |
7 years |
Tax returns and worksheets, revenue agents'
reports, and other documents relating to
determination of income tax liability.
|
Permanently |
| General/private ledgers, year-end trial
balance |
Permanently |
Time books/cards |
7 years |
| Insurance policies (expired) |
3 years |
Trademark registrations and copyrights |
Permanently |
Insurance records, current accident
reports,
claims, policies, etc. |
Permanently |
Training manuals |
Permanently |
Internal audit reports (longer retention periods may
be desirable)
|
3 years |
Union agreements |
Permanently |
| Internal reports (miscellaneous) |
3 years |
Vouchers register and schedules |
7 years |
| Inventories of products, materials, and
supplies |
7 years |
Voucher for payments to vendors, employees, etc. (includes allowances and
reimbursement of employees, officers, etc., for travel and entertainment expenses) |
7 years |
| Invoices (to customers, from vendors) |
7 years |
Withholding tax statements |
7 years |
| Journals |
Permanently |
|
|
Minute book or directors, stockholders, bylaws, and
charter
|
Permanently |
|
|
