What Kind Of Documents Should You Place In Archival Storage

documents storage

There are all sorts of business files and documentation that can take up a large amount of space inside your office.

With the large quantity of electronics that are available today, many people feel that storing actual documents is something that isn’t actually needed; however, federal law actually mandates that you do keep these for a certain period of time.

Since these documents can take up a huge amount of space in your office, it’s always a good idea to consider renting a self storage unit to help free up more room in this area.

 

documents storage

 

Putting various types of furniture pieces into a Self Storage Sydney unit is extremely useful for catering storage. Many restaurants though, can actually benefit greatly from this type of option.

Restaurant owners may require an area to store extra furniture pieces throughout the entire year as opposed to caterers, who only need to bring a certain amount of tables and chairs to specific events as needed.

In terms of business documents of any kind, it’s extremely important to consider storing them in a self storage unit that is climate-controlled, which will help to provide an extra amount of protection.

Furthermore, you should also select a storage facility that provides a great amount of security features, such as video surveillance and computerized access to both the gate and building.

You will also need to take the time to ensure that you have all of the proper supplies to store the files themselves, which will include sturdy boxes. If you find that you’re unable to completely fill the box with documents, simply place filler material into the box.

Additionally, if you have plans to archive your documents in storage for a lengthy period of time, consider adding in some sort of shelving units and/or filing cabinets for special storage space.

 

Under both state and federal law, you would be required to retain specific documentation regarding topics such as accounting records and personnel records. These documents can be saved either at your business location or in a secure offsite facility, such as a self storage unit. Here are some of the most basic types of documentation that you should save:

 

– Accounting Records, which include income tax returns, financial statements, expense reports, bank deposits, etc.

– Corporate Records, which include blueprints/plans, property appraisals, etc.

– Human Resources/Payroll Records, which include employee W-2 forms, payroll records, payroll checks, attendance records, medical benefits, etc.

 

This often leads to the following question being asked by a lot of people: exactly how long should these documents be saved? Under state and federal law, there are specific business documents that are required to be saved permanently, while others are only required to be saved for as little as two years.

Any business files from within the past two years should always be kept in your office. After that amount of time has passed, they can then be stored at a secure offsite location. In terms of any and all corporate and fixed asset records, these types of documentation are required to be saved permanently.

Some accounting records, including check registers, financial statements, and income tax returns need to be saved permanently, while other similar documents such as bank statements, charge/cash slips, and expense reports are permitted to be disposed of after a period of seven years has passed.

With the latter forms of accounting documents, it is highly recommended that you shred them.