One of the most important things you need to do as a business owner is to make sure that you are keeping all the relevant records that you need to. There are many of these to focus on, some of which are legal requirements and some of which you might just choose to have for your own reasons, or for the sake of making running your business easier. In this article, we are going to take a look at the most important records you should think about keeping in your business, to satisfy both of those ends.

Develop a High Level of Cyber Security

There are a lot of people out there who would just love to hack into your business and cause some serious issues. Whether someone is trying to get into a financial account, steal personal information, or someone is just a troll who wants to cause trouble you need to have your business protected. There are several effective ways you can go about this that will give you the security you need to be able to keep yourself, your business, and your employees safe from losing precious information and resources. Checklists like the Essential 8 are great to review to give you some insight on what great cyber security looks like. It may take some effort to secure your company’s digital profile, but it will be well worth it to know that you, your business, and your staff are secure and your information is only your business and no one else’s. 

Client Files

Although it might not be technically a legal requirement to keep information about your clients, it is advisable. You should ideally keep information on who the client was, what work you did for them, what you charged and what necessary expenses there were. It’s also handy to include their contact details here, for ease of finding them again in future. You might even be able to get more work with them this way.

Develop a High Level of Cyber Security

There are a lot of people out there who would just love to hack into your business and cause some serious issues. Whether someone is trying to get into a financial account, steal personal information, or someone is just a troll who wants to cause trouble you need to have your business protected. There are several effective ways you can go about this that will give you the security you need to be able to keep yourself, your business, and your employees safe from losing precious information and resources. Checklists like the Essential 8 are great to review to give you some insight on what great cyber security looks like. It may take some effort to secure your company’s digital profile, but it will be well worth it to know that you, your business, and your staff are secure and your information is only your business and no one else’s. 

Expenses

We mentioned expenses briefly there as part of client files, but really they are their own category too, and hugely important to keep on top of. This is a tax concern, so in order to remain HMRC compliant you will need to keep a log of all of your business expenses, right down to the smallest thing. It’s in your interest, anyway, as most expenses are something you can claim as tax relief. Good expenses management is often the difference between being in the black or the red at the end of the fiscal year, so make sure you stay on top of these records.

Develop a High Level of Cyber Security

There are a lot of people out there who would just love to hack into your business and cause some serious issues. Whether someone is trying to get into a financial account, steal personal information, or someone is just a troll who wants to cause trouble you need to have your business protected. There are several effective ways you can go about this that will give you the security you need to be able to keep yourself, your business, and your employees safe from losing precious information and resources. Checklists like the Essential 8 are great to review to give you some insight on what great cyber security looks like. It may take some effort to secure your company’s digital profile, but it will be well worth it to know that you, your business, and your staff are secure and your information is only your business and no one else’s. 

HR Records

If you hire at least one employee, you need to keep records in their HR file. There are a few vital pieces of information you need to keep here in particular: their applications, their right to work information, including visas as necessary, their contracts, and contact details to name but a few. Having this makes dealing with them easier, and keeps you legal when it comes to employment law.

Develop a High Level of Cyber Security

There are a lot of people out there who would just love to hack into your business and cause some serious issues. Whether someone is trying to get into a financial account, steal personal information, or someone is just a troll who wants to cause trouble you need to have your business protected. There are several effective ways you can go about this that will give you the security you need to be able to keep yourself, your business, and your employees safe from losing precious information and resources. Checklists like the Essential 8 are great to review to give you some insight on what great cyber security looks like. It may take some effort to secure your company’s digital profile, but it will be well worth it to know that you, your business, and your staff are secure and your information is only your business and no one else’s. 

Business Records

There are a few business items that you should keep. When you first incorporate your business, Companies House will send you a certificate of incorporation – you should keep that, along with any other Companies House filings and trademarks that you may have. You should also include here any minutes for meetings that you may hold.

Develop a High Level of Cyber Security

There are a lot of people out there who would just love to hack into your business and cause some serious issues. Whether someone is trying to get into a financial account, steal personal information, or someone is just a troll who wants to cause trouble you need to have your business protected. There are several effective ways you can go about this that will give you the security you need to be able to keep yourself, your business, and your employees safe from losing precious information and resources. Checklists like the Essential 8 are great to review to give you some insight on what great cyber security looks like. It may take some effort to secure your company’s digital profile, but it will be well worth it to know that you, your business, and your staff are secure and your information is only your business and no one else’s. 

Dissolution & Long-Term Records

Even after you dissolve and strike off a company, you still need to keep all the necessary company records listed above for seven years. This is a legal requirement, so you should make sure not to overlook it. Doing so could land you in trouble should you need to produce it further down the line, and it generally makes life easier for you anyway just to have it on hand.

Develop a High Level of Cyber Security

There are a lot of people out there who would just love to hack into your business and cause some serious issues. Whether someone is trying to get into a financial account, steal personal information, or someone is just a troll who wants to cause trouble you need to have your business protected. There are several effective ways you can go about this that will give you the security you need to be able to keep yourself, your business, and your employees safe from losing precious information and resources. Checklists like the Essential 8 are great to review to give you some insight on what great cyber security looks like. It may take some effort to secure your company’s digital profile, but it will be well worth it to know that you, your business, and your staff are secure and your information is only your business and no one else’s. 

As you can see, there are many records you should aim to keep. Be sure not to get caught out with any of these.

Develop a High Level of Cyber Security

There are a lot of people out there who would just love to hack into your business and cause some serious issues. Whether someone is trying to get into a financial account, steal personal information, or someone is just a troll who wants to cause trouble you need to have your business protected. There are several effective ways you can go about this that will give you the security you need to be able to keep yourself, your business, and your employees safe from losing precious information and resources. Checklists like the Essential 8 are great to review to give you some insight on what great cyber security looks like. It may take some effort to secure your company’s digital profile, but it will be well worth it to know that you, your business, and your staff are secure and your information is only your business and no one else’s. 

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