Ah yes. The Old Chestnut.

John wasn't talking about
what (data) the records contain, just how long to keep them!
OK ... let's move forward. Electronic form : tick. Paperless : tick.
But meanwhile, let's not forget also that some sheds haven't even gotten around to setting up a (rudimentary) PM system yet!

PS: if you like I can link back to earlier threads about which records need to be retained, but I suspect you don't need them. Personally, I have never seen the need to keep each and every esoteric leakage current spewed out by automatic safety testers. In my experience, folks have stored such records (on disc) just because they can (that is, by downloading from the tester).
PPS: "back in the day" we used to have a few filing cabinets stuffed full of files. That is, a file for each item of equipment (or, in the case of the oft-mentioned flowmeters, one file to cover all). Actually, those files (with a couple of notable exceptions) weren't all that fat, even those that were approaching twenty years old. No, it was an entirely manageable, and (I dare say) efficient, way of going about things ... at the time.

PPPS: I have also used Kardex systems ... which also worked well, up to a point (especially for parts stock control). Oh yes, I've tried 'em all!
The bottom line:- all systems may very well be valid and appropriate in the situation and circumstances to which they pertain. Just as long as they are based upon Common Sense (and there's the rub, right there)!