Email Trails and Record Retention: Why I Write Everything Down

I don't keep records for auditors—I keep them for future me

The question is not "Will someone ask?" It's "What happens when they ask?" I've been in situations where a decision made in 15 minutes needed an explanation a year later. Proper documentation protects both the company and the individual making financial decisions, providing a clear audit trail that demonstrates due diligence and compliance with policies.

What I retain as a minimum

• Approval artifacts for invoices, refunds, and credits
• Contract versions that explain pricing and obligations
• Reconciliation workpapers for key balance sheet accounts
• Change logs for rate tables, GL mappings, and policies

Comprehensive documentation framework

I maintain a systematic approach to documentation across all finance functions:

Transaction documentation:

• Source documents for all transactions
• Approval chains with timestamps
• Supporting analysis and calculations
• Exception documentation and explanations

Communication records:

• Email threads related to financial decisions
• Meeting minutes with action items
• Phone call summaries with participants
• Instant messages related to approvals

Policy and procedure documentation:

• Internal policy changes and updates
• Training materials and certification records
• Process documentation and updates
• Compliance checklists and results

Legal risk is often a documentation problem

If an action is challenged, the record is the evidence. I keep clean files and consistent naming like:

• `close/2025-11/bank-recon.pdf`
• `ap/vendor-onboarding/acme-w9.pdf`

Electronic document management systems

I utilize technology to enhance document retention:

File organization:

• Consistent folder structures across all systems
• Clear naming conventions with dates and descriptions
• Version control for multiple iterations of documents
• Access controls to protect sensitive information

Search and retrieval:

• Metadata tagging for easy searchability
• Cross-referencing between related documents
• Indexing systems for quick access
• Backup systems to prevent data loss

Email retention policies and best practices

Email is a critical component of documentation:

Email filing system:

• Categorized folders by function and date
• Regular archiving of older emails
• Clear subject lines that describe content
• Regular cleanup of unnecessary emails

Email content guidelines:

• Include all relevant details in email bodies
• Reference supporting documents clearly
• Use clear language that future readers will understand
• Include decision rationales and alternatives considered

Record retention schedules

I follow specific retention periods for different document types:

Financial records:

• General ledgers: 7 years minimum
• Bank reconciliations: 7 years minimum
• Tax returns: 7 years minimum
• Supporting documentation: 7 years minimum

Contracts and agreements:

• Active contracts: Duration plus 7 years
• Expired contracts: 7 years after expiration
• Amendment records: Life of contract plus 7 years
• Correspondence: Duration of contract plus 7 years

Quality control for documentation

I implement checks to ensure documentation quality:

Completeness reviews:

• Verify all required fields are filled
• Ensure supporting documents are attached
• Check that approval chains are complete
• Confirm all relevant details are included

Accuracy verification:

• Cross-reference with source systems
• Validate calculations and amounts
• Confirm dates and deadlines
• Ensure proper authorization levels

Digital preservation strategies

To maintain long-term access to records:

• Regular format migration to current standards
• Multiple backup locations for redundancy
• Regular testing of retrieval processes
• Documentation of file system changes

Audit preparation through documentation

Good documentation streamlines audit processes:

Preparation activities:

• Organized files ready for auditor review
• Index of all relevant documents
• Clear explanations for unusual items
• Timeline of significant events and decisions

Common audit requests:

• Bank reconciliations and supporting details
• Journal entry support and approvals
• Contract files and amendments
• Board meeting minutes and resolutions

Regulatory compliance in documentation

I ensure documentation meets regulatory requirements:

• SEC filing requirements for public companies
• SOX compliance for internal controls
• Tax documentation requirements
• Industry-specific regulations

Technology tools for documentation

I leverage various tools to enhance documentation:

Document management systems:

• Centralized storage with access controls
• Version control and change tracking
• Search and retrieval capabilities
• Integration with other business systems

Collaboration tools:

• Shared drives with proper permissions
• Cloud storage with security features
• Workflow tools for approval processes
• Communication platforms with archiving

Training and awareness

I ensure proper documentation practices throughout the team:

Training programs:

• Regular sessions on documentation requirements
• Updates on policy changes
• Best practices sharing
• Compliance refresher training

My rule

If it affects cash, revenue, taxes, or contracts, it deserves a paper trail. This principle guides my approach to documentation and ensures that all significant financial activities are properly recorded and supported.