A key component of running a successful business or human resources department is collecting and maintaining the proper documentation on your employees – including paycheck records. Retaining information on employee compensation is not only a good business practice, but is also sometimes required by law. Although you might think you can simply toss out a former employee’s information as soon as they depart the company, that can land you in legal trouble. To stay legally compliant, you need to understand what paycheck records are and how they affect your small business.
