Record Retention Policy

This Record Retention Policy describes how TrueAxis Ledger LLC (“we,” “us,” or “Firm”) retains, stores, and disposes of client records and related work papers in connection with our bookkeeping services. This Policy is intended to be consistent with our Engagement Letter and Privacy & Confidentiality Policy.

1. Purpose

We retain records long enough to perform the Services, support clients, meet professional standards, and comply with applicable legal and regulatory requirements. We also aim to avoid retaining information longer than necessary.

2. Retention Periods

Unless a longer period is required by law, professional standards, or a specific client agreement, we generally retain records as follows:

Record Type	Retention Period
Client financial records & reports we prepare	At least 7 years after engagement ends
Work papers and internal notes	At least 7 years after engagement ends
Engagement letters & signed agreements	At least 7 years after engagement ends
Correspondence with clients	At least 3–7 years (as relevant)
Business formation / firm records	Permanently (or as required by law)

These periods may be extended if there is an ongoing dispute, audit, legal hold, or other legitimate business reason.

3. Client Ownership of Records

You own your original financial records and data. Upon termination of the engagement and payment of all outstanding fees, we will provide reasonable copies of the books and reports we maintained for you, consistent with the Engagement Letter. We may retain copies of work papers and correspondence for our records.

Client Responsibility for Source Documents: You remain solely responsible for retaining your own original source documents (including bank statements, credit card statements, receipts, invoices, contracts, and similar records). Our retention of work papers and reports does not replace your obligation to keep the underlying source documents for tax, legal, or business purposes.

4. Storage and Security

Records are stored in secure digital systems (and, where applicable, physical files) with reasonable administrative, technical, and physical safeguards. Access is limited to authorized personnel. We use reputable software platforms and follow professional standards for handling confidential information.

Third-Party Platforms: When client data is maintained in QuickBooks Online or similar third-party platforms, that data is also subject to the retention, security, and availability practices of the platform provider (such as Intuit). We do not control those third-party systems and are not responsible for their retention schedules or data availability after an engagement ends.

5. Disposal of Records

When records are no longer required to be retained under this Policy, we will dispose of them in a manner that protects confidentiality (for example, secure deletion of electronic files or shredding of paper records).

6. Legal Holds and Special Situations

If we become aware of an actual or anticipated legal claim, investigation, or audit involving a client’s records, we will suspend normal destruction of relevant records until the matter is resolved or we are advised that retention is no longer required.

7. Changes to This Policy

We may update this Policy from time to time. The current version will be made available upon request and may be posted on our website.

8. Contact

Questions about this Policy may be directed to:

TrueAxis Ledger LLC
Donald Schuler, Owner
Email: hello@trueaxisledger.com
Website: trueaxisledger.com