File Don’t Pile
How long do you need to keep specific documents?
- Bank reconciliations
- Deposit slips
- Insurance policies (expired)
- Petty cash vouchers
- Sales commission reports
- Accident reports or claims (settled cases)
- Canceled checks (see exception below)
- Contracts, mortgages, notes, and leases (expired)
- Invoices and vouchers
- Payroll records and summaries
- Sales records
- Stocks and bonds certificates (canceled)
- Withholding tax statements
- Canceled checks (taxes, purchases of property, etc.)
- Capital stock and bond records
- Contracts, mortgages, notes, and leases (still in effect)
- Correspondence (legal and important matters only)
- Insurance records, policies, etc.
- Property appraisals by outside appraisers
- Property records
- Retirement and pension records
Remember to shred your documents securely! Please contact us for any questions regarding how to do so.
The Better Business Bureau put together a similar record retention schedule.