| Documents | Retention Period |
|---|---|
| Accounts payable ledgers and schedules | 10 years |
| Accounts receivable ledgers and schedules | 10 years |
| Audit reports of accountants | permanently |
| Bank Statements | 10 years |
| Capital Stock and bond records: ledgers, transfer payments, stubs showing issues, record of interest coupon, options etc. | Permanently |
| Cash books | 10 years |
| Cheques (cancelled, with exception below) | 10 years |
| Cheques (cancelled, for important payments; i.e., taxes, purchase of property, special contracts, etc. [Checks should be filled with the papers pertaining to the underlying transaction]) | Permanently |
| Contracts and leases (expired) | 10 years |
| Contracts and leases still in effect | Permanently |
| Correspondence, general | 4 years |
| Correspondence (legal and important matters) | Permanently |
| Depreciation schedules | 10 years |
| Donation records of endowment funds and of significant restricted funds | Permanently |
| Donation records, other (including any cover letter that accompanies the contribution.) | 10 years |
| Duplicate deposit slips | 10 years |
| Employee personnel records (after termination) | 7 years |
| Employment applications | 3 years |
| Expense analysis and expense distribution schedules (including allowance and reimbursement of employees, officers, etc., for travel and other expenses) | 10 years |
| Financial statements (end-of-year) | Permanently |
| General ledgers and end of year statements | Permanently |
| Insurance policies (expired) | Permanently |
| Insurance records, current accident reports, claims, policies, etc. | Permanently |
| Internal reports, miscellaneous | 3 years |
| Inventories of products, materials, supplies | 10 years |
| Invoices to customers | 10 years |
| Invoices from Vendors | 10 years |
| Journals | 10 years |
| Minute books of Board of Directors, including Bylaws and Articles of Incorporation | Permanently |
| Payroll records and summaries, including payments to pensioners | 10 years |
| Purchase orders | 3 years |
| Sales records | 10 years |
| Scrap and salvage records | 10 years |
| Subsidiary ledgers | 10 years |
| Tax returns and worksheets, revenue agents’ reports, and other documents relating to determination of tax liability | Permanently |
| Time sheets and cards | 10 years |
| Voucher register and schedules | 10 years |
| Volunteer records | 3 years |
Warning: All permitted document destruction shall be halted if SVL is being investigated by governmental law enforcement agency, and routine destruction shall not be resumed without written approval of legal counsel.
Godwin Adams
Managing Director
September 1st 2014