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~ SEAN T. SULLIVAN, CPA, PC ~
Certified Public Accountant
 

Friday, May 05, 2017

Email me

513 Lincoln Avenue
Erie, Pennsylvania 16505.2451

Telephone  ~  814.455.3089
Cell phone ~ 814.449.9129
Facsimile  ~  814.455.7646
E-mail  ~  seancpa@seancpa.com
 

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DOCUMENT RETENTION GUIDE

DOCUMENT RETENTION GUIDELINES

Following is a set of guidelines (number of years) for retention of common business and personal documents -

 

 Accounts payable ledgers and schedules ---------- 7
 
 Accounts receivable ledgers and schedules ------- 7
 
 Accountants audit and other reports ------- PERM
 
 Bank statements --------- 7
 
 Capital stock, bond records, ledgers, registers - PERM

 Cash books ------------------ 7
 
 Chart of accounts ----------------- PERM
 
 Checks (cancelled - operating payments) ------- 7
 
Checks (important payments - taxes,property
 purchases, special transactions) ---------- PERM
 
 Contracts and leases (existing and expired) ---- PERM
 
 Contributor lists ----------------- PERM
 
 Correspondence (routine) ----------------- 3
 
 Correspondence (legal and important
 documents) ---------------- PERM
 
 Cost/grant reimbursement reports ----------- 7
 
 Deed, mortgages, bills of sale ---------------- PERM
 
 Depreciation schedules ------- PERM

Duplicate deposit tickets --------------- 7

Financial statements (year-end) --------------- PERM

General and subsidiary ledgers YE --------------- PERM

Insurance policies (expired) --------------- 5

Insurance policies (current) --------------- PERM

Inventories of products and supplies --------------- 7

Invoices to customers --------------- 7

Invoices from customers and vendors --------------- 7

Minute books, by-laws, organization agreements, incorporation documents --------------- PERM

Payroll records and tax returns --------------- 7

Petty cash vouchers --------------- 7

Property records (blueprints, costs, etc) ------------ 7

Purchase orders --------------- 7

Receiving reports -------------- 7

Safety records --------------- 7

Sales records --------------- 7

Subsidiary ledgers --------------- PERM

Tax returns and worksheets, IRS agent reports, other tax returns related documents --------------- 7

Time cards and daily time reports --------------- 7

Trademark, patent, copyright registrations and records --------------- PERM

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