Posts

attorney doc storage - Complete Controller

Though it may seem like a no-brainer, law firms’ actual protocols and processes to stay compliant are complicated. Especially in Trust Accounting (otherwise known as IOLTA Accounting or Escrow Accounting), individual states’ compliance and requirements are of the highest importance.

From keeping thorough records (both print and digital) to grasping the main differences between unearned and earned income, Trust Accounting brings several unique challenges. Let’s look at some of the trust accounting compliance challenges a firm is the most likely face. Check out America's Best Bookkeepers

Challenge 1: Shortage of Trust Specific Rules and Knowledge

Every state has made its audit programs and compliance guidelines that their attornies are responsible for grasping. Further than this, the firm’s bookkeeper(s) and accountants must understand the legal accounting and bookkeeping procedures.

We stress on this point that there are many expert accountants out there who are not familiar with the new and unique trust accounting compliance requirements, and the challenges it brings with it. You need to ask your bookkeeper or accountant regarding their expertise and experience with law firms. 

Challenge 2: Restricted Resources and Means of Smaller Law Firms

Limited resources are another reason for law firms to face challenges in document storage compliance for their attorneys. When we say resources, we mean dedicated resources, IT systems, and training. These resources are reasonably hard to manage by many small firms. Nonetheless, the compliance requirements remain the same for every law firm. Regardless of the firm’s size, the chances of an audit will be the same for everyone. Check out America's Best Bookkeepers

Challenge 3: Systems Operating Manually

Law firms that keep track of their client funds through manual entries on paper spreadsheets increase the chances of errors. The bookkeeping process is slower. Despite the firm’s and attorney’s best efforts, a lot of valuable time will be wasted trying to find where the five-cent discrepancy occurs.

If the law firm makes use of an accounting solution, they need to make sure that the software is set up correctly. This software is not aimed at legal practice. That is why they require extra vigilance.

Challenge 4: Trust Funds Commingled

Commingling is of two main types:

  1. Losing tabs on the client trust account balances. In other words, no distinct ledger cards
  2. Mixing the firm’s funds with the client’s funds needs to be tracked individually

Although you can have various trust funds using one bank account, the trust funds must be recorded separately in the books. Check out America's Best Bookkeepers

Challenge 5: Lack of Safety Measures to Avoid Common Trust Blunders

Some common trust mistakes consist of lack of proof of identity for every matter, commingling of funds, repeated check numbers, overdrafts, and so on. Business owners of law firms cannot fulfill the part of a bookkeeper or CPA. Therefore, it is essential to implement processes and systems that can provide proper tools to the team.

Challenge 6: Disordered Bank Reconciliation

In trust management, bank reconciliation is even more critical. Trust reconciliation has a different way of reconciling as compared to operating accounts. It encompasses the “three-way reconciliation” where the total Individual Card Balance, Bank Balance and Book Balance, and Bank Balance is broken up. It helps you to discover any errors and correct them promptly speedily. This method dramatically helps at the time of the audit.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Document Storage Company - Complete Controller

Even in small companies, a significant number of security measures should get put in place. These measures are necessary to monitor commercial activity, personnel work, bank statements, and other operations.

When determining the period of storage of documents in your business you should consider and the need for further work with the documents. If documents are no longer needed depending on the document type destruction may require unique regulatory materials to apply to the document destruction process.

Also, document management at each business should include instructions on record-keeping, rules of work with documents, regulations on structural subdivisions of the enterprise, and job descriptions.

Check out America's Best Bookkeepers


Who is responsible for organizing the storage of documents at the enterprise? 

The owner of the business or the person authorized by the owner is responsible for the safety of documents. The chief accountant of the business performs control over compliance with the schedule of document circulation. Therefore, management should first create conditions for the storage of documents and authorize other employees (in particular, the chief accountant) to perform the appropriate actions. If necessary, also appoint the head of the archive


Check out America's Best Bookkeepers

Terms of storage

The terms of storage of documents (including primary documents) should get approval in terms of cases – a mandatory for each institution; a systematized list of names of cases formed in its office work. In this case, the requirements of the current legislation should have consideration. For the primary documents, registers of accounting, financial accounting, and other documents related to the calculation and payment of taxes and fees, the maintenance of which is specified by the legislation.

On the other hand, the primary documents for tax report submission will need storage for at least 1,095 days. The primary documents related to the audit of the tax notice-decision should have safekeeping in case of an appeal.

Storage in accounting and other structural division

All documents are kept according to the terms. The security in the structural subdivision is set up by its manager or employees responsible for organizing office work. 

There are many ways to choose a secure document storage company. 5 top tips while selecting a reliable document storage company are: Check out America's Best Bookkeepers

  • The best way to choose a secure document storage company is to consider access to your essential documents and files. It is necessary to select the right solution for your document storage that offers legal and controlled access to the
  • The environment and people should be trustworthy and requires monitoring for privacy and security purposes, and you can trust it with your sensitive files.

  • The document storage company should be able to respect the privacy and security of your offsite histories.
  • While choosing a security company for document storage, keep in mind that it should never undervalue the cost-effectiveness of your document’s storage.
  • The document storage company should have the policy of insurance for your file and document archiving.
Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Electronic Document Storage - Complete Controller

Digital bookkeeping is one of the best account management practices for business owners. It doesn’t just let them manage the numbers efficiently but also cost them less than maintaining the accounts on papers. Keeping track of documents in an office requires too much effort and maintenance hassles. From designating separate files for separate subjects to placing them in the cabinets categorically, there is so much to handle for the business owners, which ends up making them stressed about the bookkeeping and the cost it takes to manage. Management hassles and expenses are two of the core reasons why companies buy the idea of having an electronic document management system for the company data.

Having an efficient document storage system installed in a company is not sufficient to deal with the accounting and document management hassles. It still would need a professional accountant or a finance professional to look after the system. Companies with large-scale operations and a higher workforce might need an entire team of accounting professionals to manage the documents electronically. Check out America's Best Bookkeepers

Electronic Document Storage is an excellent alternative to paper documentation that has a treasure of hidden benefits that you only explore once you start using it yourself. Out of all the fantastic advantages of electronic document storage, some of the best are listed below.

Condensed Document Storage

The conventional document storage is much more of a hassle. Paper-based data storage occupies a larger space in the office. It is considered to be a wasteful cost to the company as no organization can keep all of the paper-based documents secured in their best condition forever. The pages tarnish, worn out, and eventually are discarded.

Easy Data Retrieval Check out America's Best Bookkeepers

Data retrieval becomes easier with electronic document management. With automated data management, businesses enjoy finding the most vital information from the electronic data with just a click. The right keyword helps you fetch the exact data for which you are looking.

Documents are not lost

Paper-based documents are more likely to get misplaced. If your business moves from one state to another or your office doesn’t have ample space to keep the files properly stacked, you would probably face the struggles of finding the required files or data while taking the least time. These struggles become even more stressful if you eventually fail to find the correct file and consider it lost. With an electronic document system, you don’t just find your required files conveniently, but you never lose them. Even if you accidentally delete or crash all your electronic data, information technology always offers you ample data recovery options that can help you retrieve your lost or misplaced data.

Electronic Document Storage is Safe

The system of Electronic Document Storage is safe and secure than paper-based data handling practices. It occupies less space. It is also the most reliable option for managing a large amount of data for any company, especially the most critical and sensitive data. This data includes the clientele, finances, and other disclosure information that shall ideally remain between the company’s higher management. Check out America's Best Bookkeepers

Disaster Recovery Management

Unfortunately, many companies do not think about the action plan of recovering the data in case of any natural disaster such as fire, flood, storm, or any other “Act of God.” In such an emergency, paper-based documents are primarily destroyed. However, the electronic document can be very conveniently put on different servers in multiple locations with being cost-effective, too, so that you can recover it immediately whenever required.

Electronic document storage is one of the most excellent bookkeeping practices that almost all companies follow to manage their data. As mentioned above, electronic document storage comes with numerous advantages. The only thing that is likely to be referred to as a drawback of electronic document management is how to decide which system is technically sound to be adapted for your company’s data management and where to get the right professionals to manage them.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
document management - Complete Controller

One of the most controversial topics in the business and management field is document management. In almost all industries, relevant confidential documents are created. Contemporary companies have realized that effective document management is needed. Using computer recycle bins is not how to handle essential documents. Instead, managers and employees must properly dispose of these documents. From an ethical point of view, critical documents must be deleted securely so that any third party cannot use it for personal gains or for haring others. However, permanently destroying data is an unusual topic, and many people are not aware of it. Bookkeeping data is among the most confidential and critical data of a business that needs to be shredded after its use so that it could not be recovered by rivals, customers, and even employees.  Check out America's Best Bookkeepers

Moving office documents into recycling bins poses considerable risk of a security violation. Intruders are always looking for unprotected data characterized by personally identifiable information such as names, addresses, and id’s, and social security numbers. Here are some useful ways that can ensure the safe disposal of essential documents.

Delete file – not enough

Regular readers of our site already know that simply deleting a file is entirely inadequate in terms of information security. The deleted files (with rare exceptions in the form of SSD-drives) can be restored within just a few minutes. This restoration is because when you delete a file, Windows does not destroy its contents but makes a note in the file system that the data is removed, and the disk space it occupies is free.  Check out America's Best Bookkeepers

Formatting a Disk

The very existence of tools like Hetman Partition Recovery is a good indicator that formatted partitions are not a guarantee of data security. In fact, except all the same SSD disks, formatting the partition in “fast” mode (and in old versions of Windows – and formatting in “full” mode) does not erase the data, but merely updates the file system. Accordingly, the data after such formatting can be restored.

However, full formatting of the disk with Windows Vista and Windows 7 will overwrite the contents of the drive with zeros, and format by any means an SSD with a significant (but not 100%) probability will also lead to the destruction of data.

Data destruction programs

There is a whole class of programs management designed for the reliable and safe destruction of information. Such programs use arrays of random numbers to physically overwrite the disk space occupied by the file being destroyed. Some security standards (for example, the standard used in the US Army) require several rewriting cycles and insist on using cryptographically stable random number generators. In practice, it’s more like shooting a cannon at sparrows. For private users and most commercial organizations, a single rewriting cycle is enough.

To find such a program is simple – just run a search for the keywords’ reliable deletion of files’. Similarly, the free space on the disk is mashed – even programs often use the same ones.

These methods work only with traditional magnetic drives, in which unambiguous addressing of the physical space on the disk is possible. In the case of SSD disks, this is not the case, and destroying the information on them is a separate and rather inadequate topic. Check out America's Best Bookkeepers

Destruction of data on CD and DVD

When getting rid of old backups, do not forget to destroy the data. The easiest way to suppress information on a CD or DVD is to destroy the media physically. Do not be tempted to break the “dummy” with your hands – you will most likely cut the shreds, and small pieces of plastic and aluminum substrate will meet for a long time in the most unexpected places.

To destroy disks, it’s easiest to use an office shredder equipped with a CD and DVD receiver. Besides them, there are specialized devices that are not as expensive as one might think. For most purposes, it is reasonable to cut the disc into four strips.

Some devices make the discs unusable by drilling a few holes in them (by the way, you can also create holes in the disk yourself with a conventional drill). Experts consider this method of management less reliable than using a shredder.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers

A lot of people believe document security is only for documents that are highly sensitive and qualify as classified information. However, it is crucial not to take document security lightly. After all, documents are the basis of every action a business makes. It is necessary to regard them as the most significant feature behind the working of any business because they ensure communication does not break down, efficiency is maintained, and costs do not increase.

You cannot ensure document security without evaluating the documents according to the security risks they face. Generally, there are four kinds of risks documents can be categorized under: Check out America's Best Bookkeepers


  • Operational Risk: This type of risk involves the misplacement or loss of a record or document that can impact the office’s operational dynamics. This affects the workplace’s efficiency directly, which can impact other areas of the business too.
  • Financial Risk: Most of the documents a business generally deals with are related to finance. Bookkeeping, Invoices, bills, purchase orders, and other similar documents are essential for a business, irrespective of whether it sells products or provides services. Financial risk involves the misplacement or loss of records/documents that can result in a financial loss to the business. For example, if an organization misplaces its bills, then those payments may get missed out, and the business will be required to make penalty payments later. Likewise, if it’s a supplier business and they forget to provide invoices to their client, they may face difficulties in collecting those payments later on. There are numerous situations like these where misplacing certain documents can lead to financial losses.
  • Reputational Risk: Reputation is essential for an organization. Businesses thrive on a good reputation, no matter whether they deal with other businesses or work with end consumers. The status of a company determines its ultimate success. Furthermore, it can take time and effort to develop and maintain a reputation. Not a lot of businesses would be able to maintain status if they lack organizing skills. Losing important documents can impact reputation too. For instance, if a company has a meeting with a huge client. They are supposed to suggest a new long-term solution, losing presentational material that you worked on for a long time, means you will have to go to the proposal meeting without anything or have to request a delay. This can directly lead to a loss of reputation.
  • Security Risk: This does not apply to all businesses. A lot of companies don’t operate in sectors, industries, or levels where document security is a concern. To put it simply, the majority of businesses do not have any sensitive information. While it is important to all companies to keep personal data of both employees and customers safe to prevent identity theft, but that generally does not require a lot of effort.

Businesses should evaluate their circumstances and identify the relevant risks to develop a good plan for document security. Generally, a comprehensive plan involves two elements: physical security and digital security.

Physical Document Security

  • Install locks in all storage cabinets and rooms of the premises.
  • Place disaster prevention equipment like fire alarms and fire extinguishers in central locations of the workplace.
  • Documents and files should be tagged and labeled to prevent them from getting mixed up.
  • A few selected individuals should have access to storerooms and storage cabinets on the premises.
  • Supervise any outsiders to make sure they don’t breach document security measures either deliberately or mistakenly
  • Archived documents that are not needed anymore should be destroyed regularly in a suitable way.

Digital Document Security

  • Documents that will be needed for a long time should be stored either in a cloud platform or specialized backups.
  • Get regular maintenance done on the computer terminals to avoid a breakdown, which poses a significant threat to the security of documents.
  • Understand that digitally deleting the files does not mean the document has been destroyed. They might still be stored on the hard drive, so it is crucial to deal with it exclusively before disposing
  • Install proper access management systems and firewalls on the network to reduce the risk of unauthorized intrusions.
  • It is essential to control and monitor any external storage devices within the office.
Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Document Security - Complete Controller

Document Security is a significant issue faced by almost all businesses operating worldwide. When a company uploads its documents onto the internet through cloud storage devices and platforms, they are at an extremely high risk of falling prey to malicious viruses and dangerous hackers. When placed in a physical form, there is an extremely high chance that they can be lost or damaged due to consequences like fire or theft.

Many businesses around the world have had to face difficult situations of data theft and security breaches, forcing them to pay a heavy price. Therefore, it is a wise and vital decision to take security measures seriously when uploading essential documents of a business such as bookkeeping records and financial transactions. Check out America's Best Bookkeepers

An Introduction to Document Security

Document security, defined in literal terms, is the maintenance of all of the essential documents stored, filed, backed up, processed, delivered, and eventually disposed of when no longer needed.

As documents face major security threats, one must realize the importance of developing a backup and storage plan for documents. It is a much more complicated process than just choosing a storage platform that will provide you ample space. It involves profoundly understanding the security features, capacity, and ability to maintain a backup if the documents are lost. If the documents are lost, your document storage platform should have the ability to retrieve them quickly.

Many businesses hire companies that provide storage facilities instead of spending cash on renting/leasing more storage space. This storage space is a cost-effective method and provides sufficient document safety because the storage facility companies guarantee adequate security.

A cost-effective method used by many businesses for document storage is hiring companies that offer document storage services in the form of document storage and management platforms, instead of paying a lease for more space. Another primary reason that document storage should be a top priority for any business is document security. Check out America's Best Bookkeepers

Document security is a highly sophisticated service for document storage that requires a secure, safe facility and provides individuals who have the expertise of handling, retrieving, and storing documents on behalf of other businesses/companies.

Although there are some mistakes related to document storage and management that should be avoided at all costs:

  1. Documents that are not labeled or packaged in an organized manner are often tough to locate. Most facilities complete the task for businesses as they mostly provide their packaging, retrieval, and storage system.

    2. One major factor that many businesses are concerned about is the security of document storage. Most documents stored online are not as safe as they are likely to fall prey to malicious attacks on the internet. Documents are easily accessible to third parties and can be hacked despite having security. Therefore, the lack of an effective encryption method can prove to be fatal for a business.

    3. If not appropriately managed daily, document storage can get jumbled up, resulting in a troublesome and time-consuming retrieval process. Check out America's Best Bookkeepers


The Importance of Document Security

Although document storage seems to be a bit costly and proves to be a little time consuming, it saves the documents from vicious threats if they are adequately encrypted, alongside providing the ‘make life easier’ benefit.

With the use of document storage platforms, effective document management can quickly be executed. All of the documents can be placed in one spot in an organized manner. Businesses can store all essential documents like bookkeeping and employer records that can easily be accessed when needed.

Secondly, employees working in document storage facilities are highly trained and have security clearance to protect them by placing them in damage resistant areas.

Document storage facilities are undoubtedly the best option for effective document security and efficient management, especially for businesses that have essential data they want to keep secure. A cost-effective, reliable, and easy to use document security system is a must for your business for executing effective management strategies.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
sharing documents - Complete Controller

Why is it Important to Share Sensitive Financial Documents Securely?

Many platforms provide you the opportunity to share and administer file sharing securely and safely. Many easy to use secure methods of safely sharing financial documents online are available.

Safety is an important feature when you are looking to share sensitive information online. Companies and personal profiles today are prone to:

  • Cyber Attacks
  • Hacking
  • Identity Theft
  • Data Breaches
  • Scams
  • Virus
  • Malware
  • Ransomware Check out America's Best Bookkeepers

All of these risks are lurking around your financial information, day and night. You need to rely on modern security features to keep your data safe.

Use a Password Protected Cloud

The primary step in keeping your data secure is to use a password-protected cloud that ensures maximum security. The recommended method is to use alphabets in lower and upper case, symbols, and numbers in combination to share sensitive financial documents securely.

Using a perfect combination in a password makes it virtually impossible for hackers to hack into your device. It’s always essential to keep changing your password frequently. Use a proper password management application to manage all passwords. Using strong passwords with an unusual combination of alphabet numbers and symbols is a great way to share financial documents safely.

The password can be shared with authorized individuals. You can put a restriction on the document as well. For example, you can limit access to the records to a few trusted people.

Never Use the Same Password for Every Account

People make one major mistake when dealing with their financial information. They tend to use the same password for their different bank accounts. This practice can lead hackers straight to your entire finances. Check out America's Best Bookkeepers

Dropbox for sharing Financial Documents

Dropbox is a very secure method for sharing any information online. It provides the user with an option to “share the link.” The link allows specific people to view or download the file to whom you sent the link. A Dropbox Pro account is the most secure way to share sensitive financial documents securely. Dropbox has an option for you to delete the link whenever you want.

PGP/GPG

These programs allow for safely sharing financial documents by using public-key cryptography to send files securely. The program uses public-key encryption to secure the documents and provides a private key for decrypting the files. The private key used for decrypting the data always stays on your device, but the public key is sharable.

Off the Record Messaging Services

Off the record messaging is a feature that allows you to add different messaging programs into a single platform. An application for such an app is Pidgin. Using apps like Pidgin encrypts messages before they leave your device. It has features such as adding extra security codes to ensure that no third party intercepts the communication.

LastPass Application to Share Sensitive Financial Documents

One of the most efficient ways to share financial information is to use LastPass. LastPass is a service that allows you to keep all usernames and passwords in one place. It will enable you to select a login for various services, like Google Docs, through email.

Another useful feature of LastPass is that it allows access to financial documents without allowing the person to view the password. It protects the connection with an SSL.

Resilio Sync

This app allows you to synchronize your files using a safe protocol by BitTorrent. The best feature of this device is that, instead of sharing files, it syncs the data directly between two devices. The two methods need to be online simultaneously. The files can be shared in real-time, and a 128-bit AES efficiently secures the connection. Check out America's Best Bookkeepers

SSH Secure Shell Network

The SSH secure shell network relies on using a network protocol that establishes an encrypted tunnel. The tunnel is reliable and gives you a chance to share sensitive financial documents. It gives you a safe platform that you and your correspondent can use with their username to log in and access the files you have uploaded. On the other hand, you can create an individual account to allow them access to your files.

SFTP (Secure File Transfer Protocol) 

The Secure File Transfer Protocol is an extension for the SSH protocol explicitly used for file sharing. It is one of the best options for safely sharing financial documents. The protocol gives access to a file server. A username and password will be generated that you can use to integrate into the FTP network for file sharing. It’s always better to protect your documents with a strong password.

One Time Pad for Safely Sharing Financial Documents

This application allows you to share your financial information by generating a random number safely. You must meet the other person to share a copy of the pad. This method is not as feasible as the other methods mentioned earlier on the list.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
cloud document management - Complete Conroller

New developments in technology, such as the application of cloud storage and online tools, have transitioned small and large businesses into a more productive and efficient realm of doing business. Documentation of money flow and expenses is necessary for every company for both administrative and legal reasons. By transitioning to paperless accounting and using online accounting software, documentation of money flow and business expenses can now be accomplished with enhanced security, organized cost and time efficiency, and effortless accessibility.

 

What do you want to be spending your time and money on as a business owner? Check out America's Best Bookkeepers

Say you’re a business owner, focused on the success of your company. But you have all these bookkeeping responsibilities, trying to keep track of your accounts and business transactions. Accounting is necessary for the organization and the success of every company. With that comes a new set of expenses. Think about ink, paper, scanners, and mailing fees. Even more, think about employee salaries to cover the extra work. This is where transitioning online may come into play. Moving online bypasses time spent on manually filling out paperwork, faxing, and mailing documents. And as companies grow larger, the amount of paperwork ultimately increases as transactions increase. This leaves more room for mistakes.

Looking at the benefits of cloud document management with an online accounting department

  • Efficiency – With the use of online accounting software, such as Quickbooks, businesses will increase their efficiency. Accounting needs that regulate and analyze expenditure data are time-consuming and require focused attention. Transitioning to online accounting is user- friendly. Online accounting algorithms do most of the work for you and ultimately increase efficiency allowing you to focus on other important aspects of the business. Check out America's Best Bookkeepers

 

  • Cutting costs – Thinking about going green? Is your company expanding, and you seem to be drowning in constant paperwork? By utilizing online accounting and cloud document management, you can focus your efforts on the important issues of business, while saving on accounting expenditures. Simple accounting software and online tools allow you to address these needs without excess expenditure on physical items such as thousands of sheets of paper, printers, and ink. Not only will you cut costs, but you’ll also be helping out the environment!

 

  • Enhanced Security  – By storing information on a secure cloud database, online accounting departments increase overall business security. Financial information and transactions are not stored in file cabinets but are rather securely protected on private data networks. Gone are the days of paper shredders, or the fear of misplaced paperwork with important monetary information.

 

  • Virtual access – Don’t want to go into the office? On a business trip on another continent? With cloud documentation and online accounting departments, you can access your data virtually. You don’t need to go into the office to file/fill out paperwork. Instead, stay in your comfy clothes- access/update/change your information from the comfort of your own home. Check out America's Best Bookkeepers

 

Where to start with online accounting

Know your accounting needs. Analyze expenditures and resource usage. By doing this, you can find what scale of online accounting software you need.


Future opportunities

Online accounting software will save your business money, putting focus and monetary value where it counts. Aside from security, efficiency, and virtual access, online accounting software can make future projections for your business. By analyzing losses and profits, tracking expenditure trends and values, an online accounting department can provide insight into useful business practices and future business ventures.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers