https://datarooms.website/simple-purchase-and-sale-agreement-for-business/
Manage Documents and Financials
Financial documents are essential for running your business, even if they’re not as exciting as new products or services. They provide you with a glimpse into the financials of your business and can help you make the right decisions.
With so many important financial documents ranging from accounts receivable, payable, payroll, inventory and much more – a company needs to ensure they’re properly organized and accessible. This will help you avoid missing opportunities and improve your cash flow. Furthermore, properly managed financial documents allow companies to stay in compliance with regulations, avoiding fines and other penalties.
Gather all your financial documents together in one spot. This could include reviewing your kitchen counter, entryway table, home office desk, garage, or car basement where papers can accumulate. After that, dispose of all unnecessary paperwork, such as junk mail, catalogs, and expired coupons. You may also want to get rid of old product manuals, as well as other unnecessary or unneeded documents. Once you’ve gathered all the documents you have, separate them into categories. For instance, you may have sub-categories for your different credit cards or insurance policies. If you’re using a digital filing system, create folders for each category and use consistent naming conventions (e.g., “Year-Month-Day_Description”). This will simplify access for you and anyone else who needs to access your files later.
If you intend to keep your documents for a longer period make sure you choose a storage solution that is both secure and accessible. You can choose from filing cabinets and offsite storage options, or a cloud document management system. With the latter option you’ll have the ability to immediately access your documents from any place with access based on permissions, which can be tracked and managed. A DMS automates workflows that generate alerts and escalations to ensure procedures are being adhered to. This will decrease the amount of manual handling and error.
Documents in the financial industry are varied and include everything from power of attorney documents and conservatorship documents to commercial account records and bank account records. Additionally, there are numerous regulatory documents, including Sarbanes-Oxley, FRCP, SEC, Graham-Leach-Bliley and other laws that require proper control and management of sensitive information.
It is crucial to choose a system that is easy-to-use and is compatible with other systems within your business to meet your needs. FileCenter is the best option since it’s inexpensive and doesn’t require any monthly subscription, and is compatible with any device. Plus, it’s compatible most cloud services for simple file sharing by remote employees. If you’re ready to make the switch get in touch with us today to find out how FileCenter can improve your document management and financial processes. We offer a free 30-day trial as well as a no-obligation demo. We look forward hearing from you.