Traves

I always wrote the acceptance into the actual vendor contract itself to 
avoid having to keep electronic billing acceptance agreements.  If there was 
not a formal contract in place, I made the acceptance document part of the 
active vendor file along with other checklist documents such as a W-2, 
insurance certificate (if applicable), price schedule, bid document, etc. 
However, I did not keep those documents in hard copy format.  The retention 
period depends on the extent to which those documents are used as a risk 
management tool and that is usually driven by the accounts payable "new 
vendor" procedure.

Check with your internal audit department to see what they are auditing for 
in terms of accounts payable vendor audits and whether this particular items 
is considered important as supporting evidence of the payment method or 
whether it is simply a source of data entry to complete a record that 
actually resides in your accounts payable system.  If your accounts payable 
process has a check and balance process, the document may be treated as a 
source input document and can be discarded when actual record has been 
declared or confirmed as correct.  Sort of like when source documents are 
shredded after being imaged and the batch has been checked.

Peace, love, and information governance!
Angie Fares

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