What Documents Should Be Stored in a Mini Warehouse?

Commercial documents can take up a significant amount of valuable space in an office. In today's electronic world, you might think that there's no need to keep paper documents, but that's not entirely true! While there are electronic storage options for business documents, the law still requires the retention of physical copies within specified timeframes or periods. Over time, these documents can clutter up office filing cabinets, storage rooms, and desks. Renting a mini warehouse is an excellent storage solution for companies with limited storage space in their offices.

Providing Proper Storage for Business Items

Placing restaurant utensils in a mini warehouse can be particularly useful for catering businesses, improving space management significantly. Catering companies that offer catering services may need to transport various tables and chairs for each event, while restaurant owners may need to keep extra utensils in the restaurant's storage area because they may require more utensils during peak dining seasons like holidays. Using a mini warehouse for catering companies and restaurants saves storage space, making the restaurant more spacious and comfortable. It also frees up space occupied by infrequently used utensils, allowing for more possibilities in the business area.

Environment and Equipment of Mini Warehouses

Business supplies should be stored in a temperature-controlled and moderately humid environment to prevent items from being affected by the humid spring weather in Hong Kong. Additionally, the documents stored by a company may contain sensitive employee data and internal records, so the mini warehouse should have secure gates and security monitoring equipment. You should also use appropriate supplies to store paper documents, such as sturdy cardboard boxes. If your documents don't fill the entire box, add padding to prevent them from becoming deformed due to prolonged stacking. For long-term storage of documents, it's best to add shelves and filing cabinets for easy categorization and organization.

Business Documents You Should Keep

Specific business documents, such as accounting records and personnel records, are required to be retained by law. Companies can use a mini warehouse to store the following types of documents:

- Accounting records: Financial statements, income tax returns, payroll tax returns, accounts payable and accounts receivable records, expense reports, expense and cash vouchers, bank deposits, and income tax withholdings.

- Company records: Fixed asset reports, property assessments, and internal audit records.

- Human resources and payroll: Employee forms, compensation and benefits, payroll records, attendance records, payroll checks, and personnel records.

How Long Should Business Documents Be Stored?

Every business should have the types of documents listed above, but how long should these documents be stored? According to the law, some business documents need to be stored permanently, while others can be retained for at least two years. Business documents from the past two years should be kept in the office and then can be stored off-site. All corporate and fixed asset records need to be retained permanently. Accounting records such as financial records, checkbooks, and income tax returns should also be kept permanently. Other accounting documents, such as accounts payable or accounts receivable, bank statements, expense reports, or expense and cash vouchers, can be disposed of (preferably shredded) after seven years.

Using a mini warehouse is an excellent document storage solution. Placing business documents in a mini warehouse helps keep the office space tidy and alleviates space constraints.

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