I have never seen a successful careless business owner in my entire life. As you learn new skills and create business strategies, you must also develop the skill of keeping things properly, especially things that have to do with your business.
If you have to look for your documents all the time whenever you need to use them, then trust me, you are gambling with your business. The valuable documents of your business must be kept safe at all costs.
Nowadays, many business processes are carried out online to save you the stress of keeping large documents. But online cannot be so safe, except you have a good security system. But if you still have physical documents, you need to be careful about them.
So which of these documents should you keep?
- Payroll-Related Documents: Every pay-roll documents must be kept safe and secured. Electricity bills, paid invoices, receipts from your suppliers, water bills, IRS bills, tax documents, etc. must be securely locked away in a filing cabinet, or in a safe.
- Company Reports: Annual reports, quarterly reports, letters, memos and other kinds must also be securely kept.
- Employee Files:The dates of employment, dates of resignation, salaries, etc. All that has to do with your employees should be kept in an employee files folder and gently tucked away.
- Financial Statements and Insurance Documents: All your checking and credit account statements should be stored in the same place. Your insurance documents should also be in the same place, but in a different folder.
- Online Log in Information Password: As a business owner, you probably have multiple accounts online, hence, multiple passwords. But the good thing about it is that you don’t have to store your passwords in your head. Just write them down and store them. You can use a spreadsheet software like google sheets or MS excel to keep the vital information.
All other documents that have to do with your business must also be tucked away nice and safe. My advice is that you keep these documents in a fireproof safe, locked cabinet. To prevent loss in case of fire, also, let one person you trust know where these documents are in case of any emergency.