A record retention schedule template is a crucial document for the professional field which describes the time period of each record or document retained as an active record. This document provides legal reasons for retention of records to prevent any type of obligation and also gives the date of final destruction of the record. Moreover, it is a great source for getting awareness about the validity of records with essential information. As we all know, a record is retained on the basis of its importance. This is because it has an effect on storage space. Therefore, creating the validity of a record on a record retention schedule is a unique way of acknowledging its schedule of destruction or disposal. Furthermore, this document provides a brief explanation of disposal of records in a systematic manner. This document gives important instructions which are helpful to know about the purposes of records. Many companies and organizations prepare a record retention schedule for creating all the details about records and also for providing a timetable for disposing of any record.