All businesses in Australia are required by law to keep records and documents related to all aspects of their business operations. This can range from how much money your business makes and spends, who you hire or employ, what locations your business operates from and what procedures are used in your business.
Adhering to the recording keeping obligations for Australian businesses can greatly assist you and your business if you are ever required to participate in an Australian taxation audit; so you can demonstrate all earnings and spending. Keeping detailed records is also beneficial to business operations as it allows you to keep track of your business health, allowing you to make informed business decisions. Other benefits include:
Being able to effectively manage your cashflow.
Demonstrate your businesses financial position to lenders, suppliers, accountants and prospective buyers.
Protect your business and minimise costs if you are required to respond to a compliance or legal issue.
Makes completing and lodging tax and super records and returns a lot easier.
There are a wide range of documents that should be recorded which can be split into several major groups. These include financial records, legal records, employee records, policy and procedures and other business records. Each category of record has a different period they are required to be kept, ranging up to 7 years; meaning an effective record-keeping strategy must be implemented.
In other industries like medical services, the minimum period medical records on adults must be kept is seven years from the day of last entry, and records on children must be kept until they turn 25 years old. It is recommended records are kept on patients until there is little or no risk for litigation arising from the patient’s treatment. This depends on the statutory limitation period within the relevant jurisdiction, and any applicable state or territory legislation governing medical records.
OLP has a range of storage solutions specifically designed to file records and keep them safe and secure for extended periods.
Filing Cabinets
OLP’s filing cabinets feature double extension ball bearing runners allowing for full drawer access and an anti-tilt mechanism allowing for extensive record loads to be applied without affecting the integrity of the unit and ensuring operator safety. The runner system incorporates a standard drawer lock-out mechanism which stops tilting by preventing more than one drawer being open at the same time. Our filing cabinets are available in a large range of different sizes and vertical and lateral configurations. They can also be locked so important and confidential information is kept safe and secure.
Mobile Shelving
For larger record storage needs, OLP has a range of mobile shelving units ideal for organisation of a large volume of records. The files can be accessed by simply moving the shelving units manually (Ezi-Slide Aislesaver® and Ezi-Drive Aislesaver®) or electronically (TouchDrive Aislesaver®). These systems are fully lockable, maintaining the security of a client’s private information.
Open Shelving
Open shelving is a practical solution, providing storage and access to a wide variety of items. Whatever item needs storing, OLP has the solution including steel static shelving, static and mobile wire mesh shelving and bookcases. Our shelving options are easy to assemble with shelves that are easy to adjust and to suit changing clearance and storage requirements. Our Uni-Shelving is available with a wide range of accessories including pull-out reference shelves, pull-out drawers, pull-out file frames and wire file racks. Meanhwile, our Uni-Span shelving is suited to the storage of large, heavy loads that cannot be supported in standard steel shelving such as archive boxes.
No matter your record storage needs, OLP has a solution to increase your filing organisation to improve organisational efficiency and meet the record-keeping requirements for your business or given industry.