Small Business Kit For Dummies, 2nd Edition
Book image
Explore Book Buy On Amazon

Dealing with the paperwork is a large part of running a small business. The following table suggests essential file drawers to label in an actual file cabinet or two and what must-keep information to file in each:

File Drawer What To Put There File Drawer What To Put There
Accounting and bookkeeping records Sales and expense information, inventory, ledgers, income statements, balance sheets, cash flow statements, and other financial statements. Forms used in the business Standard forms that you use in the business, such as purchase orders, sales agreements, offer letters to new employees, and employment applications.
Bank records Bank statements, cancelled checks, bank reconciliations, notices from and to your bank, deposit slips, and any loan-related notices and documents. Intellectual property records Trademark applications, copyright filings, patent filings and patents, licenses, and confidentiality or non-disclosure agreements.
Contracts All contracts you have entered into, including: real estate leases, equipment leases, purchase agreements, sales agreements, joint venture agreements, work for hire agreements, and other contracts. Marketing and advertising Marketing brochures, print ads, Web banners, text of radio ads, and records of other marketing materials.
Corporate records For corporations: Articles of Incorporation, bylaws, shareholder minutes and consents, board minutes and consents, state filings, Action of Incorporator, and amendments to the various corporate documents.
For non-corporations: Documents may include partnership agreements, LLC documents, consents of the owners, and similar records.
Permits and licenses Permits, licenses, or registration forms that you need to operate the business, whether required under federal, state, or local law.
Correspondence Letters sent by mail, faxes, and important e-mail that you don’t want to lose and want to keep in hard copy. These include both correspondence you receive and send. Stock records The company’s Stock Ledger where you record all stock and other securities transactions, copies of stock certificates, options and warrants, and copies of all securities law filings.
Employee records Completed employment applications, actual employment offer letters, employee handbook or policies, employment agreements, performance appraisals, employee attendance records, employee termination letters, W-2s, and any settlement agreements with terminated employees. Tax records These records include quarterly and annual federal and state income tax filings, W-9 filings for independent contractors, records supporting tax filings, withholding tax records, and other tax-related matters.

About This Article

This article is from the book:

About the book author:

Richard D. Harroch is an attorney with over 20 years of experience in representing start-up and emerging companies, entrepreneurs, and venture capitalists. He is listed in Who’s Who in American Law and is a corporate partner in a major law firm in San Francisco. He is a Phi Beta Kappa graduate of U.C. Berkeley and graduated from UCLA Law School, where he was managing editor of the Law Review. He has edited or co-authored a number of legal/business books, including Start-Up and Emerging Companies: Planning, Financing and Operating the Successful Business and Partnership and Joint Venture Agreements.
Richard was the chairman and co-founder of AllBusiness.com, one of the premier Web sites for small businesses. He was also the founder, CEO, and chairman of LawCommerce, Inc., an Internet company dedicated to providing products and sources to the legal profession.
He has lectured extensively before various legal and business organizations, including the American Electronics Association, the Venture Capital Institute, the California Continuing Education of the Bar, Law Journal Seminars-Press, the California State Bar Business Section, the Corporate Counsel Institute, the San Francisco Bar, and the Practicing Law Institute (PLI).
Richard has served as the chairman of the California State Bar Committee on Partnerships, the co-chairman of the Corporations Committee of the San Francisco Bar (Barristers), a member of the Executive Committee of the Business Law Section of the California State Bar, and co-chair of the Law Journal seminar in New York on “Joint Ventures and Strategic Alliances.”
Richard has experience in the following areas: start-up and emerging companies, corporate financings, joint ventures, strategic alliances, venture capital financings, employment agreements, IPOs, leases, loans, online and Internet matters, license agreements, partnerships, preferred stock, confidentiality agreements, stock options, sales contracts, securities laws, and mergers and acquisitions.

This article can be found in the category: