Records maintained in the enterprise financial system.
Content & Scope
Unit4 is the financial system used by the University of Waterloo to centrally record financial transactions.
The records include the general ledger and sub-ledgers for purchasing and receiving, payables, receivables, cash management, and assets.
Vice President, Administration & Finance.
- General ledger balances: Permanent, unless permission to destroy earlier is received from Canada Revenue Agency.
- General ledger transaction detail: minimum of 10 years.
- Sub-ledger records: minimum of 10 years.
Income Tax Act, 1985, s. 230(4); Income Tax Regulations, 5800 (1)(a)(4); Policies of various research funding bodies.
The Income Tax Regulations, 5800 (1) (a) (iv) states that the retention period for "the general ledger or other book of final entry containing the summaries of the year-to-year transactions of a corporation" is "the period ending on the day that is two years after the day that the corporation is dissolved"; the retention period for sub-ledgers and transaction detail allows access to the information for long enough in most cases to meet the requirements of granting agencies and other sponsors of research.
14 April 2010