Accounting Procedures Handbook

20 RECORD RETENTION AND DISPOSITION PDF or TIFF files. Scanning paper records does not automatically authorize the destruction of the source documents from which the scanned images have been created. However, if scanned following the requirement in this document, the electronic record can legally take the place of the paper document, which can then be destroyed. Like all electronic records scanned files must be accessible and readable for their full retention period. This includes finding the file, opening the file, and reading the file regardless of the software used in its creation. Once paper records are scanned according to the technical requirements, the paper records can be destroyed. It is, however, important to note that the retention period which would have applied to the paper record must instead be applied to the scanned record. Following each A/P check run, A/R batch, C/R batch, etc., all supporting documentation is scanned, imported to the financial software and attached to the appropriate batch. B. Record Retention and Deletion 1. Transfer and Store Finance Voucher Records: Each July remove voucher packages (that are 2 fiscal years prior to current fiscal year) from Finance Department vault and box for transfer and storage to Finance Archive Building. 2. Disposition of Finance Voucher Records: Once/ year identify Finance voucher records that are inactive (per the MSDE Records Retention and Disposal Schedules) and dispose as wastepaper. 3. Transfer and Store Payroll Records: Once/ year remove payroll records/ reports (for the prior fiscal year) from Finance Department vault and transfer for storage in Finance Archive Building. 4. Disposition of Payroll Records: Once/ year identify payroll records/ reports that are inactive (per the MSDE Records Retention and Disposal Schedules) and dispose as wastepaper. 5. Transfer and Store Restricted Grant Records: Once/ year remove Grant documentation from Finance Department and transfer for storage in Finance Archive Building. 6. Disposition of Restricted Grant Records: Once/ year identify grant documentation that is inactive (per the MSDE Records Retention and Disposal Schedules) and dispose as wastepaper. 7. Transfer and Store Food Service Records: Once/ year remove records/ reports from Food Service Department and transfer for storage in Finance Archive Building. 8. Disposition of Food Service Records: Once/ year identify records/ reports from Food Service Department that are inactive (per the MSDE Records Retention and Disposal Schedules) and dispose as wastepaper. 9. Transfer and Store Purchasing Department Records: Once/ year remove records/ reports from Purchasing Department and transfer for storage in Finance Archive Building. 10. Disposition of Purchasing Department Records: