Paperless Implementation

Having recently transformed our entire office into a paperless environment, we have learned all of the do's and don'ts associated with converting an office, and a residence, from a world of paper to a world of PDF files. It isn't as hard as you think, but along the way, we have learned, and can train you on all of the following issues:
  • The mechanics of proper scanning
  • Creating proper archives/backups for future retrieval
  • Naming conventions
  • Equipment needed - for most cases, the Fujitsu Scansnap works great and is less than $400
  • and a variety of other issues that you've never even dreamed of
We get calls all the time asking "How long do we need to hold on to XXXX? Federal law requires you to maintain copies of your tax returns and supporting documents for three years. This is called the "three-year law" and leads many people to believe they're safe provided they retain their documents for this period of time. However, if the IRS believes you have significantly underreported your income (by 25% or more), or believes there may be indication of fraud, it may go back six years in an audit. To be safe, use the listing below to determine the retention period of many documents you are probably holding onto. But here's the catch: A scanned PDF file will suffice in ALL cases of the items required below. So, ask yourself, which would you rather have - file drawers of paper or a single CD with everything on it?
We now are offering this service to any of our clients. Whether you are a household or a small business, either running out of storage space or getting frustrated about not being able to find certain items, we are now fully equipped to be able to scan all of your source documents and reduce all your paperwork and then train you on how to maintain the system at your home or office, if you desire to do so. Please contact us for pricing and details.
Retention Period
One year
·  Correspondence with Customers and Vendors
·  Duplicate Deposit Slips
·  Purchase Orders (other than Purchasing Department copy)
·  Receiving Sheets
·  Requisitions
·  Stenographer’s Notebooks
·  Stockroom Withdrawal Forms
While it's important to keep year-end mutual fund and IRA contribution statements forever, you don't have to save monthly and quarterly statements once the year-end statement has arrived.
Three (3) years
·  Bank Statements and Reconciliation's
·  Employee Personnel Records (after termination)
·  Employment Applications
·  Expired Insurance Policies
·  General Correspondence
·  Internal Audit Reports
·  Internal Reports
·  Petty Cash Vouchers
·  Physical Inventory Tags
·  Savings Bond Registration Records of Employees
·  Time Cards For Hourly Employees
·  Credit Card Statements
·  Medical Bills (in case of insurance disputes) 
·  Utility Records
·  Expired Insurance Policies
Six (6) years
·  Accident Reports, Claims
·  Accounts Payable Ledgers and Schedules
·  Accounts Receivable Ledgers and Schedules
·  Cancelled Checks
·  Cancelled Stock and Bond Certificates
·  Employment Tax Records
·  Expense Analysis and Expense Distribution Schedules
·  Expired Contracts, Leases
·  Expired Option Records
·  Inventories of Products, Materials, Supplies
·  Invoices to Customers
·  Notes Receivable Ledgers, Schedules
·  Payroll Records and Summaries, including payment to pensioners
·  Plant Cost Ledgers
·  Purchasing Department Copies of Purchase Orders

Schedule a Consultation

Get In Touch

Featured Articles

Subscribe to our Emailed Newsletter