Retention schedule

A retention schedule is like a plan that helps grown-ups know how long they should keep papers, documents, files, and other things before they don't need them anymore.

It's like when you have a toy that you really like, and you want to keep playing with it forever. But as you grow up, you will realize that you don't need it anymore because you have outgrown it or have other things to play with.

Similarly, grown-ups have to keep many different kinds of papers and documents, like bills, receipts, contracts, and agreements. They need to keep them for a certain time, but after that time, they don't need them anymore.

For example, imagine your parents get a water bill in the mail. They know that they have to pay the bill, but they also know they don't have to keep the paper forever. So they look at the retention schedule, which tells them how long they should keep the bill.

The retention schedule can tell them that they only need to keep the bill for six months, and after that, they can throw it away or recycle it. But if it's an important document, like a contract or a legal agreement, they might have to keep it for several years.

In other words, the retention schedule is like a list that tells grown-ups when they can throw away papers and when they need to keep them. It helps them keep their homes or offices organized and prevents them from having too much clutter.