Due to the craziness of COVID-19, the tax deadline’s been moved out to May 17th. While that’s welcome news for those of us who wait until the last minute to file taxes, it’s not a bad idea to make sure you have all the right documentation ready to go.
The biggest challenge is knowing what to keep and what to shred in your sensitive documents. Below, we’ve put together a quick reference of financial documents you want to hold onto for at least 7 years and others that you want to put into permanent storage.
For ideas on other documents and their shelf-life, please refer to our website for the best record-keeping strategies. Also, let us know how can help you keep your records scanned and stored securely: https://www.securshred.com/records-retention-policy/
- Accounts Receivable Ledgers
- Royalty Computations
- Invoices, Purchase Orders, Receiving Taxes
- Bank Statements and Canceled Checks
- Deeds, Titles, Abstracts
- General Ledgers
- Statements (Balance Sheets)
- Cost Ledger
- Books of Original Entry (including General Journal Entries)
Our 1st 2021 Shred Event is set to go April 17th at Service Federal Credit Union in Lebanon, NH, so make sure you check it here to get it on your calendar. For the events moving forward, we will certainly implement safety protocols to keep everyone safe during these challenging times.