Records can be of various types. They can be classified on the basis of nature of records and retention needs of records such as personal records, legal records, accounting records etc.
They are related to human resources working in the organization. They includes:
They are related to incoming and outgoing mail. Organization sends and receives mail everyday. They can be letters, inquiries, orders, complaints, circulars, notices, applications etc. They can be related to customers, suppliers, government, shareholders, media and general public.
They are required by law. They are required as evidence in legal proceedings. They can be contracts, mortgage deeds, insurance policy, income tax and value added tax records. They are related to legal matters.
They are related to financial transactions. They can be bills, vouchers, sales, purchases, cash, trading, profit, loss, stock, assets and liabilities records. They are related to financial health of the organization.
They are retained till the life of the organization. They are legal documents related to establishment of the organization, contracts, land ownership documents, insurance policy and taxation related documents.
They are retained for a longer duration up-to 20 years. They are related to:
They are retained for a short duration up to one year. They are related to:
Types Of Records On The Basis of Nature
1. Personal records
They are related to human resources working in the organization. They includes:
- Personal data about each employee, such as name, address, date of birth, married or unmarried etc.
- Skills data about education, raining, languages, special skills etc.
- Position data about current and past positions held, duties and responsibilities etc.
- Salary data about current and past performance on job.
2. Correspondence records
They are related to incoming and outgoing mail. Organization sends and receives mail everyday. They can be letters, inquiries, orders, complaints, circulars, notices, applications etc. They can be related to customers, suppliers, government, shareholders, media and general public.
3. Legal records
They are required by law. They are required as evidence in legal proceedings. They can be contracts, mortgage deeds, insurance policy, income tax and value added tax records. They are related to legal matters.
4. Accounting records
They are related to financial transactions. They can be bills, vouchers, sales, purchases, cash, trading, profit, loss, stock, assets and liabilities records. They are related to financial health of the organization.
5. Miscellaneous records
They can be progress reports of activities. They also include records not included in above-mentioned types of records.
Types of records on the basis of retention need
The types of records according to their retention need can be as follows:
1. Permanent records
They are retained till the life of the organization. They are legal documents related to establishment of the organization, contracts, land ownership documents, insurance policy and taxation related documents.
2. Important records
They are retained for a longer duration up-to 20 years. They are related to:
- Construction, research, personnel records
- Budget, accounting records, audit reports
- Annual reports, minutes of meetings
- Important letters, progress reports
3. Temporary records
They are retained for a short duration up to one year. They are related to:
- Ordinary letters
- Bank statements
- Notices and circulars of general nature
- Greetings cards and congratulatory messages.
