Records Retention Suggestions

Reduce your chance of becoming an identity theft victim by properly shredding your personal and business documents. Southside Bank is pleased to provide you with the following records retention suggestions for shredding your important documents.

Business Records Retention Suggestions*

AR ledgers  7 Years
GL final reports  Permanent 
Bank statements/cancelled checks   7 Years 
Cancelled checks for taxes   Permanent 
Capital stock and bond records   Permanent 
Contracts and leases expired  7 Years
Deeds, mortgages, contracts and leases  Permanent
Depreciation schedules  Permanent 
Employment applications  3 Years
Employment taxes (records and returns)  Permanent 
Financial statements - year end  Permanent
General Ledger  Permanent
General correspondence  3 Years
Insurance policies (expired)  4 Years
Internal audit reports, working papers  3 Years
Invoices to customers, from vendors  7 Years
Journal vouchers  7 Years
Miscellaneous internal reports  3 Years
Board Minutes  Permanent
Notes receivable  7 Years
Patents, Trademarks  Permanent
Payroll records, Time cards  7 Years
Personnel files (terminated)  7 Years
Petty cash vouchers  3 Years
Physical inventory tags  3 Years
Purchase Orders  7 Years
Requisitions  1 Year
Sales records  7 Years
Subsidiary GL ledgers  7 Years
Tax returns and worksheets  Permanent


*Consult with your legal, financial, HR department and records manager to confirm your specific needs and requirements.

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