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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