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Ideal Duration to Keep Important Office Documents

When the office documents clutter the office space, you will find a need to discard some. Employee documents are some of the paperwork that fills your office, and you will want to get rid of them. This article will be a good choice for you if you have been wondering the ideal time you need to take when you want to get rid of such documents. Therefore, you will be discarding these official documents in time, and keep the office clean.

The time that you will need to keep the bank statements will be the first thing you need to have in mind. Keeping the bank statements is necessary, when you have a new business to manage, or when you are managing an old one. The ideal time that you will need to keep the bank statements is seven years. After this while, you will be able to reprint them, due to the introduction of online banking. Even though, after every year, you can decide to do away with the monthly bank statements.

There are also the employees’ information and you may be wondering on how lo you will need to keep them. You will also have to wait for seven years so that you can do away with such documents. However, you will need to retain the document that contains the details of workers compensation for ten years. You will need to keep the application forms from the potential employees for at least three years before you can discard them. There is the digital format, that you can store such documents when you find them cluttering the office. Therefore, when you want to tidy your office, you will factor in some ideal tips from this site.

You may as well wonder how long you will need to keep the tax records. There are more than 25 million entrepreneurs that have been wondering about this question. To discard such documents, you will need to wait for at least three years. In case there is a major problem, the IRS will want to go back to the tax records three years back the line. You will then need to talk to your accountant the importance of keeping such documents in a digital manner.

There is also the option of the spring cleaning, and you will be wondering after how long you need to do it. When you have enough space that you can keep your office files, you will make sure that you store them properly.