How to Manage Documents and Finances


Manage Financials and documents

Financial documents are essential to running your business, even if they’re not as exciting as the latest products or services. They provide insight into your company’s finances and help you to make smart business moves.

With a myriad of important financial documents ranging from accounts receivable and payable, to inventory, payroll and much more – a company must ensure they’re stored and accessible. This will help you avoid losing opportunities and increase your cash flow. A properly managed financial document helps businesses stay within the rules and avoid fines and penalties.

To begin, collect all your financial records in one place. Examine your kitchen counter and entryway desk office, car trunk and garage, basement or any other space that you often accumulate papers. Next, toss any unnecessary paperwork, like catalogs, junk mail and expired coupons. You may also want to remove old manuals for your product or other documents that are not used. After you’ve gathered everything, organize your papers into categories. For instance, you could having sub-categories to organize your credit card or policy. 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 help you locate your files, as well as for anyone else who might require them in the future.

If you want to store your documents for a long time you should choose a solution that is secure and easily accessible. Some options include filing cabinets and offsite storage as well as cloud-based document management systems. You can instantly access documents anywhere, anytime, with permission-based access, which is monitored and managed. A DMS automates workflows that generate alerts and escalations to ensure procedures are being adhered to. This reduces the amount of manual work and errors.

Financial industry documents are diverse in their range, from power of attorney forms and conservatorship documents to commercial account records and bank account records. There are also numerous documents that are required by regulators, such as Sarbanes-Oxley (FRCP), SEC, Graham-Leach-Bliley, and other laws that require proper management and control of sensitive information.

It is essential to choose an option that is user-friendly and that integrates with other systems in your organization to meet these demands. FileCenter is the best choice since it’s inexpensive and doesn’t require a month-long subscription, and is compatible with any device. It’s also compatible with many cloud-based services, allowing remote employees to share files easily. If you’re ready to make the switch, contact us today to learn how FileCenter can improve your document management and financial processes. We offer a 30 day free trial and demo without obligation. We would love to hear from you!

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