Shred Your Budgets & Payroll Records in Columbus, Ohio
Knowing when to shred your budget and payroll records is imperative, as government agencies require business owners to keep original hard copies of payroll records for a certain length of time. You don’t, however, want to end up with stacks and stacks of documents in your office. It’s not only space-consuming; it’s also a bit risky.
When to Shred Employee Payroll Records
Holding on to your budget and employee compensation records too long can create liabilities and risk. Identity theft is on the rise and it is imperative that every business owner protect their employee’s sensitive personal information.
On the other hand, if you throw away your employee payroll records too soon, if you get audited by the IRS you will no longer have proof of your business expenses. The best thing to do is to make sure you understand the laws regarding employee record retention. Each state and federal agency has a different set of requirements and employers should know how long to keep or destroy employee files and documents.
Professional Payroll Shredding Company in Columbus, Ohio
When it comes to shredding company information, you should have
a clear policy in place and rely on a secure record shredding
company, like Fireproof, to cut down on your paper pile.
Employers should regularly schedule destructions of documents
once they exceed the approved time limit.
Employee pay records to shred include:
- Payment Records
- Tax Reports
- Deposit Registers
- Employee Records
- Tip Reporting Records
- Wage Information