Gain a measure of security knowing you have what you need for as long as you need it
What documents do you keep? How long do you need them?
Many organizations are struggling with record retention requirements and protocols. The increase in electronic records have created additional confusion about what needs to be retained and how to access the information.
Many organizations are keeping a variety of records indefinitely rather than come up with clear guidelines about what types of documents to keep permanently and what can be purged and when.
The Massachusetts Society of CPAs has provided useful guidance on this subject at the link below. The actual amount of time to keep a specific document may be longer depending on the circumstances of your business or the contents of the documents.
Click here for Record Retention Guidelines