WHAT TO KEEP A guide to record retention. Keep Permanently Audit reports of accountants Cash books, charts of accounts, receipt journal Cancelled checks for important payments (fixed assets & income tax) Contracts and leases still in effect Correspondence on legal and other important matters Deeds Mortgages and bills of sale Depreciation schedules Financial statements (end-of-year) General and private ledgers (and end-of-year trial balances) Insurance records, current accident reports, claims, policies Journals Minute books of directors and stockholders meetings Property appraisals by outside appraisers Property records Tax returns and worksheets, revenue agents' reports and other documents relating to determination of income tax liability Partnership agreements Stock certificates Sales records - Cancelled stock and bond certificates Plan and Trust agreements By-Laws Buy-Sell agreements Articles of Incorporation and amendments Keep Three Years General correspondence Employment applications Internal audit reports Internal reports Petty cash vouchers Savings bond registration records of employees Keep Seven Years Accident reports and claims Accounts payable ledgers and schedules Accounts receivable ledgers and schedules Cancelled checks Expired contracts and leases Expired insurance policies Expense analysis and expense distribution schedules Inventories of products, materials and supplies, records Invoices to customers Notes receivable ledgers and schedules Expired option records Payroll records and summaries, including payment to pensioners Purchasing department copies of purchase orders Subsidiary ledgers Time books Voucher register and schedules Employee personnel records (after termination) Voucher for payments to vendors, employees, etc., employee expense records Bank statements Keep One Year Bank reconciliations Correspondence with customers or vendors Duplicate deposit slips Purchase orders (except purchasing department copies) Receiving sheets Requisitions Stockroom withdrawal forms 4565 Hilton Parkway, Suite 101 Colorado Springs, CO 80907 (719) 531-0445   •  Fax: (719) 531-0448 1-888-733-3345