What are the key rules for keeping records?

What are the key rules for keeping records?

they keep that record up to date. the recording is carried out promptly, and is accurate and factual. the recording keeps in mind the person’s needs for dignity and confidentiality, ie it should never be abusive, judgmental or libellous.

What should not be kept in personnel files?

Examples of items that should not be included in the personnel file are:

  • Pre-employment records (with the exception of the application and resume)
  • Monthly attendance transaction documents.
  • Whistleblower complaints, notes generated from informal discrimination complaint investigations, Ombuds, or Campus Climate.

How many personnel files should be kept?

four types

What is the proper way to store employee files?

Employee files should be stored in a secure location and be kept strictly confidential. Access should be restricted to those with a legitimate need to know or as required by law. Several categories of records must be maintained according to specific requirements.

What is the best way to organize employee files?

Whether you use paper, electronic files or both, consistency is the key to effective recordkeeping. For example, if your hiring records are sorted by employee name, organize payroll records the same way. Keep the same system across all types of records, and make sure your file folders have accurate, uniform names.

Is Hard copy of invoice mandatory?

The Goods and Services Tax Network (GSTN) has clarified that carrying physical copies of e-invoices, mandatory for companies having an annual turnover of Rs 500 crore, is not required during movement of goods.

What records must be kept by GST registered persons?

When you’re GST registered, you’ll need to keep all receipts/invoices that are over $50. You don’t need to hold a tax invoice for items costing less than $50, but you do need to maintain a record of such payments.

Is GST applicable on write off?

Under GST, the requirement to reverse ITC arises only in case of actual write off. No ITC reversal is required where the value of the goods have been partially written down, and provision to write off is made.

What is liabilities no longer required written back?

Liability outstanding for a very long period of time and not written back in account. Many a times, there are instances where the person has standing liability in his books of accounts year after year. The person neither receives any payment against it nor writes it back in books of accounts.