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Michigan Administrative Code (Last Updated: November 16, 2016) |
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Department LR. Licensing and Regulatory Affairs |
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Public Service Commission |
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Chapter Preservation of Records of Electric, Gas, And Water Utilities |
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Part 2. SCHEDULE OF RECORDS AND PERIODS OF RETENTION |
Section 460.2526. Accounts receivable; retention periods.
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Rule 26. The following accounts receivable records shall be retained for the periods listed (see rules 53 and 54 for accounts with customers for utility service and merchandise sales):
(a) ) Records of accounts receivable pertaining to sales of utility plant.
3 years after settlement.
(b) Record or register of accounts receivable and indexes thereto and summaries of distribution.
3 years after settlement.
(c) ) Accounting department copies of invoices issued and supporting papers which do not accompany the original invoices and authorizations for charges, including supporting papers.
3 years after settlement.
(d) Periodic statements of unsettled accounts, except trial balances.
Destroy at option.
(e) ) Schedule of invoices to be issued. Destroy at option.
History: 1979 AC; 1980 AACS.