General rule – At NDSU there is a minimum of one year time period for retaining original documents that are scanned and attached to accounting transactions in PeopleSoft. Further details and guidance is described below:
Guideline for departments outside of central accounting - The NDSU Accounting Office recommends a one year time period for retaining original documents that are scanned and attached to transactions in PeopleSoft. This includes: 1) documents (such as: lodging receipts, supplier invoices) scanned and attached to employee Expense Reports in the PeopleSoft Travel Expense Module, and 2) supporting documents (invoices, etc.) for Accounts Payable Vouchers that are entered by departments directly to PeopleSoft. The one year retention period does not apply to documents that are not scanned and attached to a transaction in PeopleSoft.
In July 2018, the Accounting Office began scanning and attaching to PeopleSoft transactions the paper forms for Inter-departmental Billings, Cost Transfers, Cash Transfers, as well as supporting documentation. Since those documents and support is scanned and verified in the Accounting Office, the one-year retention period applies to both the originating departments and the Accounting Office. The one-year retention period does not apply to these type of transactions prior to July 2018.
Guideline for central accounting departments (Accounting Office, Grant & Contract Accounting, Ag Budget Office, etc.) - A one year time period will be used for retaining original documents that are scanned and attached to transactions in PeopleSoft by the Accounting Office. Examples include: Inter-departmental Billings, Cost Transfers, Cash Transfers, Journal Entries, Journal Vouchers, Signature Forms, and Supplier documents (such as: W9’s, ACH forms).
(Accounting Office Guideline - For purposes of defining the retention period: after scanning and uploading these documents, the accounting office will retain all original documents for the current fiscal year plus one previous fiscal year. After that time, paper documents will be destroyed.)
· PeopleSoft Trial Balances, Inquiries, etc., where the information is already stored elsewhere in PeopleSoft. No one-year retention needed.
· Accounts Payable Vouchers, discussed below.
Paper Accounts Payable Vouchers, Wire Transfers and Receiving Reports (along with invoice support) prepared by departments and entered in Accounting – In early fiscal 2019, the Accounting Office began scanning and attaching the Account Payable Vouchers, along with supporting documentation, to the PeopleSoft transaction. The support can be viewed in the Accounts Payable module. At this time the retention period is 10 years on these transactions until further notice. Also note that there is a records retention freeze on any documents related to the U.S. Department of Agriculture and National Institute of Health – no documents are to be discarded if they are related to those federal agencies, until further notice.