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Home > Legal Issues > Record Retention > Business Records
Permanent
- Audit reports of accountants
- Capital stock and bond records
- Cash books
- Chart of accounts
- 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)
- Contracts and leases still in effect
- Correspondence (legal and important matters only)
- Deeds, mortgages and bills of sale
- Depreciation schedules
- Financial statements (end-of-year trial balances)
- General ledgers (end-of-year trial balances)
- Insurance records, current accident reports, claims, policies, etc.
- Journals
- Minute books of directors and stockholders, including by-laws and charter
- Property records-including costs, depreciation reserves, depreciation schedules, blueprints and plans
- Property Appraisals
- Tax returns and worksheets, revenue agents' reports and other documents
- Trademark registrations
7 Years
- Accident reports/claims (settled cases)
- Accounts payable/ Accounts receivable records
- Checks (canceled)
- Contracts and leases (expired)
- Expense analyses/ distribution schedules
- Inventories of products, materials and supplies
- Invoices to customers
- Invoices from vendors
- Notes receivable ledgers and schedules
- Option records (expired)
- Payroll records and summaries
- Plant cost ledgers
- Purchase orders (purchasing dept. copy)
- Sales records
- Scrap and salvage records
- Stock and bond certificates (canceled)
- Subsidiary ledgers
- Time books
- Voucher registers and schedules
3 Years
- Correspondence-general
- Employee personnel records (after termination)
- Employment applications
- Insurance policies (expired)
- Internal audit reports
- Petty cash vouchers
- Physical inventory tags
- Savings bond registration records of employees
1 Year
- Bank reconciliations
- Duplicate deposit slips
- Receiving sheets
- Requisitions
- Stockroom withdrawal form
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