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HOT TOPICS
2017
MEMBERSHIP
DIRECTORY
86
ACCOUNTING RECORDS
Accounts Receivable/Accounts Payable Ledgers & Schedules
7 years
Audit Reports & Chart of Accounts (Certified,IRS,Warranty)
Permanently
Bank Statements (bank reconciliations,cash books,deposit slips)
7 years
Capital Stock & Bond Records,Ledgers,Options,Records of Interest Coupons,
Permanently
Stubs Showing Issues,Transfer Registers
Cash Reporting Forms (8300)
7 years
Checks Canceled
7 years
Exceptions: for important payments, special contracts, taxes, file with documents
Permanently
Financial Statements & Depreciation
Permanently
General/Private Ledgers (year-end trial balance)
Permanently
Gifts/Records of Gifts
Permanently
Internal Audit Reports (longer retention may be desirable)
5 years
Internal Reports (misc.)
5 years
Invoices to customers/from vendors and for vehicles
10 years
Journals
Permanently
Notes, Receivable Ledgers and Schedules
7 years
Payroll Records and Summaries
Permanently
Petty Cash Vouchers
4 years
Property Records (costs,depreciation reserves, depreciation schedules, year-end trial balances)
Permanently
Purchase Orders
7 years
Requisitions
4 years
Sales Commission Reports
4 years
Shipping and Receiving Reports
7 years
Stock & Bond Certificates Canceled
Permanently
Tax Returns and Related Documents
Permanently
Vouchers,Voucher Register & Schedules
7 years
Withholding Tax Statements
7 years
CONSUMER RECORDS
Credit Applications
5 years
Customer Files/Credit Denied/Dead Deal
1 year
Customer Files/Deal Jackets
10 years
OFAC (Office of Foreign Assets Control)
5 years
Prescreened Solicitations to Consumers
25 months after credit offer date
Prescreened Solicitations to Businesses
12 months after credit offer date
Retail Installment Contracts - after expiration
assigned
10 years
not assigned
11 years
Service Contracts/ExtendedWarranties
10 years after expiration
Telemarketing Sales Rule (scripts, customer information & other information
24 months
relating campaigns)
©2015 GNYADA
©2015 GNYADA