Many companies like to preserve data for posterity and legal reasons. Thus, they understand the difficulties inherent in this proposition.
Maintaining records on hard copy requires space and expense. Also, it involves security to protect confidential data.
Actually, there are certain documents that should be saved from document destruction. These include original, signed contracts, tax filings, and so on.
In reality, there are plenty of hard copies to set aside for document shredding. This is especially the case, following a set time frame.
What business documents should be shredded and when? Here are a few things to consider. Then, you can confidently hand hard copies over to your mobile document shredding service.
What Business Documents Should be Shredded?
In fact, most documents generated or received by your business can be shredded. Yet, you have to know when to do it. There is good news from your CPA and/or legal advisor.
They offer guidelines for how long to maintain certain records. For example, you might be done with purchase orders and receiving sheets after a year.
However, you should hang onto certain documents. These include budget projections and employee application forms. Keep those for two years. Then, they can be shred.
Maintain employee expense records and shipping bills for three years. Conversely, keep invoices, bank statements, and ledgers for four years.
Finally, it’s the seven-year mark. Thus, it should be safe to destroy payroll records, personnel files, and accident claims.
As noted above, some files should be maintained indefinitely. They include tax filings and contracts, audit reports, year-end financial statements, bylaws, training manuals, and more.
This encompasses any documents that govern how you run your business. Also, it pertains to those that could be requested by government agencies, for example.
Naturally, this is not a comprehensive list. Yet, the point is that you need to separate business documents into categories. In doing so, you’ll determine if and when they should be shredded.
Contact professionals like your attorney, accountant, and document shredding service. They can help you make sound decisions in this regard.
Scanning Documents Prior to Shredding
Do you prefer to store documents in byte-sized capacity? Many businesses do, in this digital era. If you do, partner with a Florida document shredding service. They offer scanning prior to document destruction.
In reality, it’s best to scan before you shred. That’s because you can store all of your business data in a manageable format.
Essentially, it can preserved indefinitely, if you so choose. This way you can clear out space taken up by physical files. Yet, you won’t lose crucial data.