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Records Retention Policy


Records Retention Policy

The Financial Services office retains all original records for university financial transactions based on the schedule below. Individual departments may retain their duplicate copies of such transactions at their own discretion. Original documents (cash register tapes, worksheets, etc) should be maintained by departments according to the schedule below.

BYU-Hawaii records will be retained based on the following guidelines:

PAYROLL
W-2's Forever
Year-end payroll registers 10 Years
Bi-weekly & semi-monthly payroll registers 5 Years
Canceled checks 5 Years
Bank reconciliation's 5 Years
Time sheets 5 Years
ACCOUNT PAYABLE
Invoices 5 Years
Canceled checks 5 Years
ACCOUNT RECEIVABLE
Sub ledgers 10 Years
CASH RECEIPTS
Receipts 10 Years
GENERAL LEDGER
Year-end ledgers & financial statements Forever
Monthly ledgers & financial statements 5 Years
Posting & journal entry reports 5 Years
Journal entries and supporting documents 5 Years
Support for current balance sheet items As long as item exists