Accounts Payable Transaction Files

Function

Finances

PIB

RRSDA Number

1995-001

Department

Finance

Description, purpose and use of records

Vendor invoices and billings, cheque receipt stubs, copies of cheque distribution voucher, copies of purchase orders, correspondence, notes and working papers relating to the processing of accounts payable transactions. These are approved account transactions which have been paid. This record series is also known as 'Accounts Payable Vouchers.'

Retention periods

Records	Active Retention	Semi-Active Retention	Total retention	Final disposition
Accounting	CFY + 3 years	3 years	CFY + 6 years	Destruction
Copies in all other departments	CFY + 1 year	NIL	CFY + 1 year	Destruction

Active = Active Retention Period, Keep in Office; Semi-Active = Semi-Active Retention period, transfer to University Records Centre; CY = Current calendar year; CFY = Current fiscal year; CS = Current semester; S/O = Superseded or obsolete; OPR = Office of Primary Responsibility; Non-OPR = All other departments

Authorities

These records are created, used, retained and managed in accordance with the following authorities:

Income Tax Act (RSC 1985, c. I-3.3 (15th Supp.))

Retention rationale

These are routine financial administration records which are of no further administrative, fiscal or legal value to Financial Services once the retention period expires. These records are created, used, retained and disposed pursuant the Income Tax Act (RSC 1952, c. 148, s. 230).

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