Business
Business
Keep 1 Year
Bank reconciliations
Correspondence with customers or vendors
Duplicate deposit slips
Purchase orders (except purchasing deparment copies)
Receiving sheets
Requisitions
Stenographer’s notebooks
Stockroom withdrawal forms
Keep 3 Years
General correspondence
Employee personnel records (after termination)
Employment applications
Expired insurance policies
Internal audit reports
Internal reports
Petty cash vouchers
Physical inventory tags
Savings bond registration records of employees
Keep 7 Years
Accident reports and claims
Accounts payable ledgers and schedules
Accounts receivable ledgers and schedules
Cancelled checks
Expired contracts and leases
Expense analysis and expense distribution schedules
Inventories of products, materials and supplies
Invoices to customers
Notes receivable ledgers and schedules
Expired option records
Payroll records and summaries, including payments to pensioners
Plant cost ledgers
Purchasing department copies of purchase orders
Sales records
Cancelled stock and bond certificates
Subsidiary ledgers
Time books
Voucher register and schedules
Voucher for payments to vendors, employees, etc.
Keep Permanently
Audit reports of accountants
Cash books, charts of accounts
Cancelled checks for important payments
Contracts and leases still in effect
Correspondence on legal and other important matters
Deeds
Mortgage and bills of sale
Depreciation schedules
Financial statements (end-of-year)
General ledgers (and end-of-year trial balances)
Insurance records, current accident reports, claims, policies
Journals
Minute books of directors and stockholders
Property appraisals by outside appraisers
Property records
Tax returns and worksheets, revenue agents’ reports and other documents relating to determination of income tax liability
Trademark registrations
Individuals
Individuals
Keep 1 Year
Bank Statements
Paycheck Stubs (reconcile with W-2)
Canceled checks
Monthly and quarterly mutual fund and retirement contribution statements
(reconcile with year end statement)
Keep 3 Years
Credit Card Statements
Medical Bills (in case of insurance disputes)
Utility Records
Expired Insurance Policies
Keep 6 Years
Supporting Documents For Tax Returns
Accident Reports and Claims
Medical Bills (if tax-related)
Property Records / Improvement Receipts
Sales Receipts
Wage Garnishments
Other Tax-Related Bills
Keep Permanently
CPA Audit Reports
Legal Records
Important Correspondence
Income Tax Returns
Income Tax Payment Checks
Investment Trade Confirmations
Retirement and Pension Records
Special Circumstances
Car Records (keep until the car is sold)
Credit Card Receipts (keep until verified on your statement)
Insurance Policies (keep for the life of the policy)
Mortgages / Deeds / Leases (keep 6 years beyond the agreement)
Pay Stubs (keep until reconciled with your W-2)
Property Records / improvement receipts (keep until property sold)
Sales Receipts (keep for life of the warranty)
Stock and Bond Records (keep for 6 years beyond selling)
Warranties and Instructions (keep for the life of the product)
Other Bills (keep until payment is verified on the next bill)
Depreciation Schedules and Other Capital Asset Records (keep for 3 years after the tax life of the asset)