Episode 46 How To Audit Your Digital Assets

A key requirement to managing your Digital Assets is to have a comprehensive list of all your assets, where they are located and who has access. Unlike your physical assets, it is not that easy to find your online account information. Without the proper authorization, it can take weeks to get a provider to give the legal owner access if that person did not set up the account.

A great inventory can take many forms. We put together this Digital Asset Audit to help you get started.

Password Manager:

What password system are we using? I like https://www.lastpass.com/

• Banking:
• Financial Software/Platform:
  • QuickBooks? Etc?
    • Username:
    • Password:
• Regulatory:
  • BWC, etc  
    • User:
    • Username:
    • Password:

• Social Media (Set up as Administrative Accounts)
  • Google My Business:
    • User:
    • Username:
    • Password:
  • Instagram
    • User:
    • Username:
    • Password:
  • Facebook
    • User:
    • Username:
    • Password:
  • TikTok
    • User:
    • Username:
    • Password:
  • LinkedIn
    • User:
    • Username:
    • Password:

• Other
  • User:
  • Username:
  • Password:
• Menu / BOH Software Account (analyzing recipes & menus for profitability)
  • User:
  • Username:
  • Password:

• Email Host:
  • Username:
  • Password:

• Domain Register (If not with website host)
  • Username:
  • Password:

• Website Host:
  • Username:
  • Password:

• Food Delivery Services:
  • Door Dash
    • Username:
    • Password:
  • Uber Eats
    • Username:
    • Password:
  • Grubhub
    • Username:
    • Password:

• Postmates
  • Username:
  • Password:

•  Payroll- who is in charge?  
  • Name:
  • Phone Number:
  • Email:

• Broadline Foodservice Distributors https://www.hillcrestfoods.com/
  • Contact information of sales representative.
    • Name:
    • Phone Number:
    • Email:

• Order Portal:
  • Username:
  • Password:

• Internet/Connection Issues:
  • Contact for Connection Troubleshooting?
    • Name:
    • Phone Number:
    • Email:
  • Contact for Tablets/Technology Equipment Replacement?
    • Name:
    • Phone Number:
    • Email:
  • History of Equipment Replacement?
    • Item Previously Replaced:
      • Years between replacements?
    • Existing Technology Equipment Warranties?

• Other Vendors:
  • Vendor for: 
    • Name:
    • Phone Number:
    • Email:
  • Vendor for:
    • Name:
    • Phone Number:
    • Email:
  • Etc

• Online Account Access:
  • Who has access and to what?
  • Type of user? Admin, etc.

Merchant Services Account

• User:
  • Username:
  • Password:

• Point of Sale (POS):
  • Name of POS System:
    • Username:
    • Password:
  • Contact for POS (when there are issues):
    • Name:
    • Phone Number:
    • Email:
  • Who is in charge of updating POS with added & upcharge pricing?
    • Name:
    • Phone Number:
    • Email:

Employee clock in/out via POS?

• Payment of online and digital services:
  • Make a payment calendar.
  • What credit card is on file.
  • What is auto renew?

File System: Should be on shared cloud drive.

• Restricted access with versions 
  • What data has been accessed
  • MUST BE: The 3-2-1 backup strategy – Simply states that you should have 3 copies of your data (your production data and 2 backup copies) on two different media (disk and tape) with one copy off-site for disaster recovery. https://dpbestflow.org./links/39 Location of all BACKUPS

• File Naming –
  • Media –
  • Draft –
    • Date started:  
    • Short Description:
    • Version:
    • Example: 20200605DigitalMenuBoardSidesV1
  • Final and approved:
    • Date Approved:  
    • Short Description: Same as Draft
    • Version: Final
    • Example: 20200619DigitalMenuBoardSidesFinal

• File Naming Best Practices
  • Files should be named consistently
  • File names should be short but descriptive (<25 characters) (Briney)
  • Avoid special characters or spaces in a file name
  • Use date format ISO 8601: YYYYMMDD
  • Include a version number (V1, V2, V4)

• Approval Process
  • Create an approvals matrix and store it in a centralized location so that who approves what is clear to all.
  • Map approvals to a workflow
  • Automate it.

• File Structure?

• Folder: Marketing
  • Sub-Folder – Project
    • Active File that you are working on.
    • Last Approved Version
    • Sub-Sub-Folders Drafts
    • Sub-Sub-Folder – Archive
      • All Old final drafts.
  • Sub-Folder – ????

• Document Retention Policy:
  • Employee Records:
    • Name, address, occupation, pay rate, hours worked for each day worked and each amount paid to an employee for 3 years from the last date the employee was employed
      • Per Ohio Constitution
      • https://www.legislature.ohio.gov/laws/ohio-constitution/section?const=2.34a

• Employment Application/Resumes:
  • Employment apps and related documents must be retained for 2 years from the date of the hiring decision (date position filled, not date position posted)
    • Per Federal Law (range is 1-2 years)
    • https://strategichrinc.com/keeping-resumes-and-applications/

• Tax Records/Tax Returns:
  • Permanently retained (suggested)
  • 7 years (unless you can guarantee no mistakes/fraud/unreported income)
    • Ohio statute of limitations to examine income tax returns: 4 years
      • https://tax.ohio.gov/wps/portal/gov/tax/help-center/faqs/income-general-information/income-general-information
        • Number 20
    • IRS statute of limitations to examine income tax returns: 3 years (6 years if you don’t report income you should have and it is 25% more than the gross income on the return, no limit if fraudulent)
      • https://www.irs.gov/businesses/small-businesses-self-employed/how-long-should-i-keep-records
        • Number 2
      • https://www.irs.gov/taxtopics/tc305
    • Exception: if request for extension of time to file- the time permitted for audit begins the day filing is actually completed
    • General Info:
      • https://www.mhrcpa.com/retention-guide
      • https://ohiocondolaw.com/article/retention-of-association-records/
      • https://ossea.org/resources/tax-retention-guide/

• Financials
  • Non-tax related business documentation should be kept indefinitely/permanently
  • Including financial statements
  • https://ocj.com/2018/03/how-long-should-you-keep-important-records-and-documents/
  • https://www.nolo.com/legal-encyclopedia/how-long-should-you-keep-business-records.html
  • https://wincleveland.org/Resources/Documents/7%20Record%20retention%20for%20small%20businesses.pdf
    • Says for small businesses but they are all the same retention periods as for any size business