Accident reports & claims (settled cases)…………………………..

7 Years

Accounts Payable ledgers & schedules……………………………..

7 Years

Accounts Receivable ledgers & schedules…………………………

7 Years

Audit reports of accountants………………………………………..

Permanently

Bank reconciliations………………………………………………..

1 Year

Capital stock & bond records, ledgers, transfer registers, stubs

     showing issues, record of interest coupons, options, etc..………

Permanently

Cash Books…………………………………………………………

Permanently

Charts of Accounts………………………………………………….

Permanently

Checks (cancelled, but see exception below)………………………

7 Years

Checks (cancelled for important payments, i.e. taxes, purchases of

     property, special contracts, etc. (checks should be filed with

     papers pertaining to the underlying transaction)……………….

Permanently

Contracts and leases (expired)……………………………….……..

7 Years

Contracts and leases still in effect…………………………………..

Permanently

Correspondence (routine) with customers or vendors……………...

1 Year

Correspondence (general)…………………………………………..

3 Years

Correspondence (legal & important matters only)…………………

Permanently

Deeds, mortgages and Bills of Sale………………………….……..

Permanently

Depreciation schedules……………………………………………..

Permanently

Duplicate deposit slips……………………………………….……..

1 Year

Employee personnel records (after termination)…………………..

3 Years

Employee applications……………………………………….……..

3 Years

Expense analyses & expense distribution schedules……………….

7 Years

Financial statements (end-of-year, other months optional).………..

Permanently

General & private ledgers (and end-of-year trial balances)….…….

Permanently

Insurance policies (expired)………………………………………...

3 Years

Insurance records, current accident reports, claims, policies, etc…..

Permanently

Internal audit reports (in some situations longer retention periods   

     may be desirable)………………………………………………..

3 Years

Internal reports (miscellaneous)…………………………………….

3 Years

Inventories of products, materials, and supplies……………………

7 Years

Invoices to customers……………………………………………….

7 Years

Invoices from vendors……………………………………………...

7 Years

Journals……………………………………………………………...

Permanently

Minute books of directors and stockholders, including by-laws and

     charter…………………………………………………………...

Permanently                     

Notes Receivable ledgers & schedules……………………………..

7 Years

Option records (expired)……………………………………………

7 Years

Payroll records & summaries, including payments to pensioners….

7 Years

Petty cash vouchers…………………………………………………

3 Years

Physical inventory tags……………………………………………..

3 Years

Plant cost ledgers……………………………………………………

7 Years

Property appraisals by outside appraisers…………………………..

Permanently

Property records, including costs, end-of-year trial balances,

     depreciation reserves or schedules, blueprints and plans……….

Permanently

Purchase orders (except purchasing department copy)……………..

1 Year

Purchase orders (purchasing department copy)…………………….

7 Years

Receiving sheets…………………………………………………….

1 Year

Requisitions…………………………………………………………

1 Year

Sales records………………………………………………………...

7 Years

Savings bond registration records of employees……………………

3 Years

Scrap and salvage records (inventories, sales, etc.)………………...

7 Years

Stenographer’s notebooks…………………………………………..

1 Year

Stock and bond certificates (cancelled)…………………………….

7 Years

Stockroom withdrawal forms……………………………………….

1 Year

Subsidiary ledgers…………………………………………………..

7 Years

Tax returns and worksheets, revenue agents’ reports and other

     documents relating to determination of income tax liability….…

Permanently

Time books………………………………………………………….

7 Years

Trade mark registrations…………………………………………….

Permanently

Voucher register and schedules……………………………………..

7 Years

Vouchers for payments to vendors, employees, etc. (includes

     allowances and reimbursement of employees, officers, etc. for

     travel and entertainment expenses)……………………………...

7 Years