- 3 years – Credit card statements, monthly financial and bank reconciliations
- 7 years – AR and AP records, inventory, PO and sales records, property records/improvements
- Life of document + 4 years – Insurance policies, lease payment records and minor contract
- Permanent – Bank statements, cancelled checks, fixed asset purchases, depreciation schedules, tax returns and related information, all corporate paperwork and major contracts.
- 3 years – employment applications
- 7 years – employee files, payroll and dividend checks, payroll records
- Permanent – Benefit, retirement, pension and profit sharing plans
Read more HERE. And check back soon to find out why and where to keep all of these important documents!