Keep the information on file in a data base and update it only as needed. But yet conversations suggest many people still do endless checking and decision making over items not worth your time. Learn to make decisions quickly and move on. File what you can electronically and get rid of junk. Never save what you know someone else is saving.
Record keeping can consume valuable time.
Minimize the records you keep. Ask yourself if anyone has ever asked for the information or if it's information that will help you justify program requests and expenses. Records kept just for the sake of keeping records are probably not necessary. For example, we find that accurate hardware inventory records are essential and we've scrambled during technology planning when our record keeping lapsed. But, the process is simplified by recording all the information in our automation system, not in a separate data base.