Clearing Previous Year Version Logs for Non-Critical Doctypes

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Over time, the tabVersion table tends to grow significantly. In our case, we noticed it had accumulated a large number of records from previous years for doctypes like Customer, Item, User, and other non-financial documents.
Questions for the Community

  1. Does anyone regularly clean up Version logs as part of their annual maintenance?
  2. Is there a recommended/official way to do this in ERPNext?
  3. Are there any risks we should be aware of beyond audit trail loss?
  4. Should this be part of a standard year-end checklist?
  5. Has anyone automated this with a scheduled job?
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@TalhaButt2508

Log Settings are where you can define number of days for which you want to keep logs for.