To print, or not to print—it’s the age-old debate that still doesn’t have a clear answer. That is, until now. Here we discuss all the business documents you should always print. Some of these are obvious, but others are more elusive, so if you want to save your business some money—and paper—read all that we have outlined in this article.
Your Legal Documents
You should be proud of your business license; you worked hard to get this far, so make sure to display your hard work. That’s why, when you’re out and about at other businesses, you’ll often see their business license in a highlighted area of the wall. Not to mention, most states have regulations that require you to have a physical copy of the license—that’s why printing it is so essential to your business.
Articles of Incorporation
Don’t confuse this with your business license, because this document arguably identifies you as a business to the public. In other words, your license says you can do business with the public, while the articles of incorporation state that you’re operating as a business as opposed to an individual. In addition, this is the document that protects you personally if someone were to sue you.
These could be permits to operate based on your industry or permits for renovations. For example, if you’re a bar and restaurant owner, you’ll need a permit to serve alcohol. Not to mention, there are regulations in place that require you to have your permit on the wall. So, if it isn’t displayed in an area that’s easily seen, you could potentially face some problems. Also, if you’re renovating your business, you’ll probably need a permit in your county. Depending on your state and county, you may not need a physical copy, but it’ll certainly be easier if you were asked to show it.
Financial and Tax Documents and Records
You should always keep physical copies of your tax returns; this helps you identify any changes that have occurred over the years. In addition, sometimes you must show your last two or three tax return documents if you’re working with banks and investors.
Some of the most important business documents you should always print are your financial statements. This includes income statements, balance sheets, a statement of cash flow, profit and loss statement, and so on. Out of every document included in this list, you’ll probably reference these the most regardless of your business’s size. For example, many business owners monitor their finances daily, but they may also take a deeper look every month. Another time you’ll need to reference your financial statements is when pitching to investors because they want to see what the numbers say, not what the owner claims.
Annual Bank Statements
Your bank will always have an annual statement that shows all the transactions you’ve completed over the year. We suggest storing the last couple of years’ annual statements because it’ll help you identify changes that have happened, need to happen, or help you forecast what will happen.
There are many contracts involved in a business, and some businesses have more than others. For example, if you’re a start-up that you run almost entirely by yourself, you won’t have very many employee contracts. On the other hand, there are businesses that have hundreds or even thousands of employees, and those businesses will have a lot more contracts to store. It’s beneficial to store employee agreements if the employee’s contract requires revision due to company changes or promotions.
Client or Supplier Agreements
Due to the nature of any given business, it’s important to have paper copies of all signed agreements between you and your clients. It’ll save you in the future if, for whatever reason, they attempt to do something that does not align with said agreements. Also, sometimes businesses deal with suppliers that are contingent on you selling X more products before they fulfill your next order. So, having copies of all your documents holds every party accountable to what they agreed to.
Lastly, nearly every business needs a location, so you should have a physical copy of your lease agreement with the landlord. Your lease agreement should spell out all the details involved, such as what you owe, when you need to pay, the term of the lease, and so on. Again, having an easily accessible physical copy of this document ensures every party is owning up to their agreement.
Business owners have so much to juggle from their management responsibilities, tasks, and administrative work, which includes organizing and printing documents. The question is, which documents should you print for your business? We suggest printing the following: legal documents such as your articles of incorporation or business license, or financial and tax documents such as your typical financial statements. Additionally, you should have physical copies of contracts and agreements such as your employee agreements, supplier contracts, and so on. So, in other words, you only need the basics.
So, it’s apparent that we can’t get away from paper copies entirely. That begs the question, how are you going to handle all this printing? We know that manufacturers charge an absurd amount for brand-name ink cartridges, and if that’s not bad enough, it’s also terrible for the environment. Our solution at 1ink.com is to supply remanufactured ink cartridges; we reduce the number of empty cartridges piling up in landfills, and they’re much more affordable without sacrificing quality. If you need a Dell ink cartridge replacement, Brother, Epson, HP, Samsung, or any other brand, 1ink has what you need. Having a paper trail of major agreements and contracts is crucial to ensuring that every party is holding up to what they agreed to. After all, you don’t want to end up in a bad deal because you didn’t have a copy of your contract. So, let us help you save money and get some extra security by printing documents with our remanufactured cartridges.