Data and Documents That Businesses Should Keep Safe
In Australia, there is a government law that says that all the businesses should have to take measures to keep their documents safe and secured. Even if this was no such rule, it is a common business etiquette to keep the data and documents safe from all kinds of threats. The best way to keep these documents safe is by using a security bin Sydney for storing the documents that are no more of use. There is a whole plethora of documents that businesses need to keep safe. In this line, some of the most important ones are –
- Income and expenditure’s
- Employee information
- Business operations
- Where the business operates from
Reasons to Keep These Documents Safe
- According to the experts from paper shredding Sydney, keeping track of these documents will help them manage the entire business and manage the cash flow.
- Other than this, this will also protect the company from any kind of external threats and at the same time, the business would stay in compliance with the rules and regulation.
- One more reason is that by keeping these documents safe, they will be able to keep track of business health so that business decisions can be made without faults.
According to the experts from paper shredding Sydney, there are 5 main groups of records that should be kept when running a business. Some of them are –
Financial Records
- Invoices and receipts for the goods and services sold
- Staff rosters, pay records and attendance records
- Records of contractors and sub-contractors
- All bank statements
- A business asset register
- Depreciation schedules
- All tax documents, activity statements and annual tax returns
- Documents in relation to how the business is being financed, i.e. Loans.
Protecting Legal Records
- Leases
- Contracts with suppliers and other clients
- Insurance documentation.
Employee Records
- All financial records such as bank accounts, tax file numbers and their super-annulation details
- The employee’s contact details, their address, phone numbers and emergency contacts
- Their work history and performance – this can include any performance issues or workplace injuries
- Employee records include any information you have about the employees of your business
- Keeping good employee records means you can pay your employees correctly and meet your tax and super responsibilities
Tip: Staff should be provided with a copy of the business’s policies and procedures at the beginning of employment.
Policies & Procedures
This would include a number of documents that belong to businesses day-to-day operations.
- Workplace health and safety plans
- Dress codes/standards
- Sexual harassment policies
- Operation manuals
Other Business Records
According to the experts, there are a number of documents that are required by the businesses on a daily basis. For the businesses, it becomes very important that they keep these documents absolutely safe. This would include the following –
- Personal customer details
- Products they have purchased
- Product enquiries that could be useful for finding new customers.
- Complaints from customers that can also be helpful in the long run.
- Customer or staff disputes.
- Information on how they were resolved and in what time frame.
- Any type of quotation sent to customers or contractors.
- Details of marketing and advertising
- Insurance policies.
Comments