DocuWare - DocuWare for Accounting - Reduce Costs and Improve Cash Flow With Faster Processing

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DocuWare for Accounting
Reduce Costs and Improve Cash Flow With Faster Processing To keep up with documentation needs and retention schedules, it's virtually impossible to manage a modern day accounting department without document management. DocuWare offers several advantages: significantly less search time, space savings, gains by qualifying for early payment discounts and faster collection of accounts receivable.

Description

Anyone working in accounting knows about the mountains of documents that need to be stored to meet today's legal and financial requirements.
The systematic filing of records without a Document Management System (DMS) can cost you in time and space, particularly the time lost to hunt for records that might be filed off-site, incorrectly, or even lost.

Legal Requirements
- GAAP - Generally Accepted Accounting Principles
Completeness, timeliness, accuracy, accountability and the motto "No entry without documentation" are the main goals driving an accounting department.
- Retention Schedules
According to tax laws, retention schedules can be up to ten years. In addition, documentation can play an important role, for example, in product liability issues or contractual disputes. In such cases, it may be necessary to retain documents even longer.
- Sarbanes-Oxley
CPA firms and publicly traded companies have a whole new set of regulations to worry about. With the passage of the Sarbanes-Oxley Act of 2002, companies are now required to retain even more documentation, including e-mail and other types of financial correspondence.

Internal Processes
Access to detailed information such as departmental codes or general ledger numbers must be possible at all times. This guarantees that an internal cost/benefit analysis gives you the right numbers.

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