If your business is drowning in paper, Better Business Bureau of Southern Arizona has some guidelines for what you should keep and how long to keep it. To protect your own and your customers’ identities, shred anything with private or financial information before you discard it.

“Companies need to keep good records to stay on top of their business and, in some cases, to protect themselves from litigation,” said Kim States, BBB President. “A retention program that regularly reviews and destroys unneeded documents can reduce clutter and make it easier to manage day-to-day.”

BBB Tips for Record Retention Guidelines for Businesses:
Permanent Records

Accountants’ audit reports
Annual Financial Statements
Bills of sale for important purchases
Canceled checks (for important purchases)
Capital stock and bond records, other records dealing with the firm’s capital structure
Cash books
Charts of accounts
Contracts and leases (major and/or current)
Correspondence (legal and important matters)
Credit history
Deeds and mortgages
Depreciation schedules
Employee personnel records (after termination)
Financial statements (year-end) (more…)