The retention period of accounting records is categorized into two types: permanent and periodic. Accounting records are kept from the first day after the end of the accounting year. Permanent, that is to say, accounting records shall be kept permanently; regular, that is to say, accounting records should be kept for a statutory period of time, regular storage period is generally divided into 10 years and 30 years.
"Accounting Records Management Measures" stipulates that China's enterprises and other organizations, such as accounting records of the storage period, which provides for the minimum retention period of accounting records, which can be divided into:
1.permanent: accounting records custody inventory, accounting records destruction inventory and annual financial reports;
2.25 years: cash and bank deposits Journal;
3.5 years: fixed assets card account kept for 5 years after fixed assets scrapped and cleaned up, bank balance reconciliation statement, bank statement;
4.3 years: monthly and quarterly financial reports;
5.l5 years: other. Contains all accounting vouchers, general ledger, ledgers, journals and subsidiary ledgers (excluding cash and bank deposit journals), accounting handover inventory. Rush Pass Program ACCA Global Private Classes College Employer Direct Program Weekend Face-to-Face Classes Summer and Winter Vacation Sprint Classes Other Courses