Business records: How to keep, organize and protect company documents

Running a business means dealing with paper and digital files every day. This tag collects practical guides, news and how-tos about business records — what to keep, how long to keep it, and simple systems that save time and headache. Whether you run a small shop in Nairobi or manage accounts for a startup in Lagos, the basics are the same: be organised, stay compliant, and protect sensitive data.

Essential records and rough retention rules

Keep a clear list of core documents: invoices and receipts, bank statements, tax returns, payroll and employee files, contracts and lease agreements, ownership and incorporation papers, and insurance records. A common rule is to keep financial and tax records for 5–7 years. Founding documents and ownership records should be kept permanently. Contracts are often kept for about six years after they end because many legal claims fall within that period. Use these as a starting point, then check local rules for exact retention requirements.

For employee records, keep timesheets, payroll details and tax forms for the period required by law plus a few years. For permits, licences and insurance, keep current documents accessible and archived copies for several years after expiry.

Simple systems that actually work

Name files so you can find them fast: start each filename with the date in YYYY-MM-DD format, add the type and a short reference (example: 2024-08-01_invoice_ABC123.pdf). Scan paper documents and use OCR so the text is searchable. Use folders by year and type, not by person, to make auditing easier.

Choose a reliable cloud provider with encryption and two-factor authentication. Back up critical files to a second location and test restores at least once a year. Limit access to financial and HR folders—use role-based permissions so only people who need files can open them.

When disposing of records, shred physical copies and securely delete digital files. Keep a disposal log that notes what was shredded or deleted and when. That log helps during audits and shows you followed your own retention policy.

If you’re not sure what rules apply, ask an accountant or a compliance officer familiar with your country’s laws. Small changes now—consistent naming, a backup plan, and an annual clean-up—cut the risk of fines, data loss, and stress.

Browse the articles tagged 'business records' below for step-by-step guides, country updates, and tool recommendations that work across Africa.

Common mistakes to avoid: mixing personal and business accounts, leaving backups to one device, using unclear file names, and keeping everything indefinitely 'just in case.' Set a simple retention schedule and stick to it. Run a quick audit every six months: spot-check ten files for correct naming, expiry dates, and access permissions. Train one employee to own records tasks and document the workflow. For more help, check our how-to articles and tool reviews tagged here — they walk you through migration, secure cloud choices, and low-cost scanning setups tailored for African businesses. Find up-to-date guides and tools below right now.