To Keep or Toss? Understanding the Retention Period for Business Financial Records

Keeping business financial records is important for any organization. However, it can be challenging to determine how long to retain these records. Some businesses may hold onto documents longer than necessary, while others may dispose of them too soon. The retention period for financial records varies depending on the type of document and applicable laws and regulations. Understanding the retention period for business financial records is not only important for legal compliance, but it can also aid in making informed business decisions. In this article, we will explore the retention period for various financial documents and best practices for record-keeping.… Read More