For businesses, maintaining well-organized records is crucial, not only for daily operations but also in case of audits. At Luther's Lock-It in Alabama and Arkansas, we understand the importance of safely storing business files. Here are some key tips to help you manage your business records efficiently.
It's vital to retain original, printed versions of essential business records. Recommended retention periods include keeping bank statements for one month, credit card statements for 60 days, warranties for their coverage duration, paycheck stubs for a year, and tax documents for seven years.
Whether dealing with print or digital documents, organization is key. We advise scanning all documents to have both printed and digital copies. Use hanging file folders for physical documents, labeled by date (YYYYMMDD format) and document name. This approach is effective for both print and electronic documents. Organize your print files by document type, name, and date. Digital files should be sorted into appropriately named folders, like “Employee Data” or “Taxes,” and organized by name and date within these folders.
While storing digital file copies on your computer is an option, using cloud storage is recommended for safety and accessibility. Cloud storage ensures data backup across multiple servers, reducing the risk of data loss and allowing access from various devices and locations.
For small businesses with limited paperwork, a home filing system may suffice. But as your business grows and paperwork increases, renting a storage space becomes a practical choice. Storage units can also accommodate other business items, such as overstock inventory and seasonal displays. Look for storage facilities that offer amenities catering to business needs, such as accepting and storing deliveries on your behalf.
Regularly file new documents and periodically review your existing files. Shred documents that are no longer needed while retaining necessary ones. Digital files, being space-efficient, can be kept indefinitely.
Luther's Lock-It in Alabama and Arkansas is dedicated to providing effective solutions for your business file storage needs. If you're looking for a suitable storage space, explore our options to find a facility that meets your business requirements.
Luthers Lock-It Trojan Way, Troy, AL
108 Trojan Way, Troy, AL 36081, United States
(334) 509-2550
http://lutherslockit.com/troy/
https://goo.gl/maps/onxXAGdTsnmb5Wfx5
Luthers Lock-it Irvington, AL
7590 US-90, Irvington, AL 36544, United States
(251) 607-1897
http://lutherslockit.com/irvington/
https://goo.gl/maps/xZ2NrycMY3t1n8y37
Luthers Lock-it Cabot, AR
702 E Mountain Springs Rd, Cabot, AR, 72023, United States
(251) 727-6646
http://lutherslockit.com/cabot/
https://goo.gl/maps/MraLCs4ieR2mKrvaA
