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01 <br />r <br />RECORDS RETENTION SCHEDULE <br />Internal reports (miscellaneous) .......... 3 yrs. <br />Inventories of products, materials, <br />and supplies ........................ 7 yrs. <br />Retention <br />Period <br />Accident reports and claims <br />7 yrs. <br />(settled cases) ....................... <br />7 yrs. <br />Accounts payable ledgers and schedules .. <br />7 yrs. <br />Accounts receivable ledgers and schedules <br />7 yrs. <br />Audit reports of accountants ............. <br />Permanently <br />Bank reconciliations ................... <br />1 yr. <br />Capital stock and bond records; ledgers, <br />7 yrs. <br />transfer registers, stubs showing issues, <br />record of interest coupons, options, etc... <br />Permanently <br />Cash books .......................... <br />Permanently <br />Charts of accounts .................... <br />Permanently <br />Checks (cancelled but see exception below) <br />7 yrs. <br />Checks (cancelled for important <br />Permanently <br />payments, i.e,. taxes, purchases of <br />property, special contracts, etc. (checks <br />should be filed with the papers per- <br />taining to the underlying transaction) .... <br />Permanently <br />Contracts and leames (expired) ........... <br />7 yrs. <br />Contracts and leases still in effect ......... <br />Permanently <br />Correspondence (routine) with <br />customers or vendors ................ <br />1 yr. <br />Correspondence (general) .............. <br />3 yrs. <br />Correspondence (legal and important <br />1 yr. <br />matters only) ....................... <br />Permanently <br />Deeds, mortgages, and bills of sale........ <br />Permanently <br />Depreciation schedules ................. <br />Permanently <br />Duplicate deposit slips .................. <br />1 yr. <br />Employee personnel records (after <br />7 yrs. <br />termination) ........................ <br />3 yrs. <br />Employment applications ............... <br />3 yrs. <br />Expense analyses and expense <br />1 yr. <br />distribution schedules ................ <br />7 yrs. <br />Financial statements (end -of -year, other <br />months optional) .................... <br />permanently <br />General and private ledgers (and <br />end -of -year trial balances) ............. <br />Permanently <br />Insurance policies (expired) ............. <br />3 yrs. <br />Insurance records, current accident <br />Permanently <br />reports, claims, policies, etc............ <br />Permanently <br />Internal audit reports (in.some <br />situations, longer retention periods <br />may be desirable) ................... <br />3 yrs. <br />Internal reports (miscellaneous) .......... 3 yrs. <br />Inventories of products, materials, <br />and supplies ........................ 7 yrs. <br />Retention <br />Period <br />Invoices to customers .................. <br />7 yrs. <br />Invoices from vendors ................. <br />7 yrs. <br />Journals ............................. <br />Permanently <br />Minute books of directors and stock- <br />holders, including by-laws and charter... <br />Permanently <br />Notes receivable ledgers and schedules ... <br />7 yrs. <br />Option records (expired) ............... <br />7 yrs. <br />Payroll records and summaries, <br />including payments to pensioners....... <br />7 yrs. <br />Petty cash vouchers ................... <br />3 yrs. <br />Physical inventory tags ................. <br />3 yrs. <br />Plant cost ledgers ..................... <br />7 yrs. <br />Property appraisals by outside appraisers .. <br />Permanently <br />Property records -including costs, <br />depreciation reserves, end -of -year trial <br />balances, depreciation schedules, <br />blueprints and plans ................. <br />Permanently <br />Purchase orders (except purchasing <br />department copy) ................... <br />1 yr. <br />Purchase orders (purchasing <br />department copy) ................... <br />7 yrs. <br />Receiving sheets ...................... <br />1 yr. <br />Requisitions .......................... <br />1 yr. <br />Sales records ......................... <br />7 yrs. <br />Savings bond registration records <br />of employees ....................... <br />3 yrs. <br />Scrap and salvage records (inventories, <br />sales, etc.) ......................... <br />7 yrs. <br />Stenographer's notebooks .............. <br />1 yr. <br />Stock and bond certificates (cancelled) .... <br />7 yrs. <br />Stockroom withdrawal forms ....... :.... <br />1 yr. <br />Subsidiary ledgers .................... <br />7 yrs. <br />Tax returns and worksheets, revenue <br />agents' reports and other documents <br />relating to determination of income <br />tax liability ......................... <br />permanently <br />Time books .......................... <br />7 yrs. <br />Trade mark registrations ................ <br />Permanently <br />Voucher register and schedules .......... <br />7 yrs. <br />Vouchers for payments to vendors, <br />employees, etc. (includes allowances <br />and reimbursement of employees, <br />officers, etc., for travel and <br />entertainment expenses) .............. <br />7 yrs. <br />