2015 GNYADA MEMBERSHIP DIRECTORY

ACCOUNTING RECORDS

HOT TOPICS 2015 GNYADA Membership Directory

Accounts Receivable/Accounts Payable Ledgers & Schedules Audit Reports & Chart of Accounts (Certified,IRS,Warranty) Bank Statements (bank reconciliations,cash books,deposit slips) Capital Stock & Bond Records,Ledgers,Options,Records of Interest Coupons,

7 years

Permanently

7 years

Permanently

Stubs Showing Issues,Transfer Registers Cash Reporting Forms (8300)

7 years 7 years

Checks Canceled

Exceptions: for important payments, special contracts, taxes, file with documents

Permanently Permanently Permanently Permanently

Financial Statements & Depreciation

General/Private Ledgers (year-end trial balance)

Gifts/Records of Gifts

Internal Audit Reports (longer retention may be desirable)

5 years 5 years 10 years

Internal Reports (misc.)

Invoices to customers/from vendors and for vehicles

Journals

Permanently

Notes, Receivable Ledgers and Schedules

7 years

Payroll Records and Summaries

Permanently

Petty Cash Vouchers

4 years

Property Records (costs,depreciation reserves, depreciation schedules, year-end trial balances)

Permanently

Purchase Orders

7 years 4 years 4 years 7 years

Requisitions

Sales Commission Reports

Shipping and Receiving Reports Stock & Bond Certificates Canceled Tax Returns and Related Documents Vouchers,Voucher Register & Schedules

Permanently Permanently

7 years 7 years

Withholding Tax Statements

©2015 GNYADA

CONSUMER RECORDS

Credit Applications

5 years 1 year 10 years 5 years

Customer Files/Credit Denied/Dead Deal

Customer Files/Deal Jackets

OFAC (Office of Foreign Assets Control) Prescreened Solicitations to Consumers Prescreened Solicitations to Businesses Retail Installment Contracts - after expiration assigned

25 months after credit offer date 12 months after credit offer date

10 years 11 years

not assigned

Service Contracts/ExtendedWarranties

10 years after expiration

Telemarketing Sales Rule (scripts, customer information & other information relating campaigns)

24 months

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