(settled cases).............................. 7 years

 

Accounts payable ledgers and

schedules..................................... 7 years

 

Accounts receivable ledgers and

schedules..................................... 7 years

 

Audit report of accountants....... Permanently

 

Bank reconciliations.......................... 1 year

 

Capital stock and 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

the 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 and

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

 

Employment applications.................. 3 years

 

Expense analyses and expense

distribution schedules.................... 7 years

 

Financial statements (end-of-

year, other months optional)...... Permanently

 

General and 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 for directors

and stockholders, including

by-laws and charter................ Permanently

 

Notes receivable ledgers

and schedules............................... 7 years

 

Option records (expired).................. 7 years

 

Payroll records and

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, depreciation

reserves, end-of-year

trial balances, depreciation

schedules, blueprints

and plans.............................. Permanently

 

Purchase orders (except

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