End of Year Record Retention Guide
End of Year Record Retention Guide Getting ready to store your financial records for 2010? Here's a handy guide to help you decide what to keep and what to toss. Record Retention Guide Type of Record Retention Period Bank Statements 7 Years Business Licenses Until Expired Cash Register Tapes 3 Years Check Registers Keep Permanently Canceled Checks 3 Years Deeds, Titles, Title Insurance Length You Own the Property Financial Statements Keep Permanently General Ledger Keep Permanently Inventory Records 7 Years Invoices/Bills - Accounts Payable 3 Years Invoices - Accounts Receivable 3 Years Phone/Utility Bills 3-6 Years Property, Plant & Equipment Records Keep Permanently Purchase Orders 3 Years Receiving Reports 3 Years Tax Returns & Related Backup 10 Years Minimum Time Cards or Tickets 3 Years Travel Expe...