Of course, you’re a smart business owner. Most likely, you know there are certain documents to retain original copies of in perpetuity.
These include deeds, titles, business contracts and signed legal documents. Also, included are trademark registrations and copyrights, etc.
Additionally, you’re aware that there are many documents you can toss. Even better, hand them off to your mobile document shredding service.
However, there’s something to keep in mind. It’s that keeping them for a short time is necessary.
Chances are you already engage in some amount of document shredding. Thus, you remain in compliance with applicable privacy laws.
Yet, are you shredding enough? Likely, some documents aren’t shredded that should be. Here are the basics of document destruction.
Shred it All
First, determine which documents should be shredded. Then, adopt a shred it all policy. Actually, this means never throw paper in the trash. Hence, dispose of it properly.
Therefore, place in a securely locked shredding bin. Next, your trusted Florida document shredding partner picks it up.
Really, this doesn’t mean you need to shred every document. In fact, there are a select few you should never get rid of.
However, don’t risk something important going in the trash. After all, it could be compromised by dumpster-diving thieves. Instead, shred it.
What to Shred Down the Line
Presumably, you know to keep tax documents for up to seven years. Yet, many businesses elect to keep tax filings and associated documents forever.
However, there are documents to be saved for a short time before shredding. For example, shred documents like purchase orders and receiving sheets after a year.
Conversely, dispose of employment applications, budget projections, and general correspondence after two years.
Additionally, keep employee expense records and shipping/freight documents for three years. Also, keep bank statements, sales records, and inventories for four years.
Keep in mind, it’s fine to keep digital copies of such records. However, it’s wise to retain hard copies of original forms.
Do it for a short period of time for practical and legal reasons. Then, have your document shredding service scan them. In doing so, they’ll provide you with a digital copy.
Finally, they destroy and dispose of documents. Consequently, your records are intact without losing office space to unnecessary filing cabinets.