A financial audit is a time-consuming, but necessary, part of financial clarity and transparency. For nonprofits, financial audits are essential to providing the documentation needed for donors and the public to understand how money is spent. For-profit companies also rely on audits to ensure their accounts are accurate. And, with tax season, an audit is a smart idea to prepare the annual tax filings, 10-K reports, and other information needed for corporations to file taxes correctly.
With that said, however, an audit can be a time-consuming and thankless task. Between finding the paperwork needed for the auditors and getting it to them, you may as well make it your full-time job! Add to this the things that can go wrong—boxes stored in a damp basement that are now moldy, a mouse that got into a file cabinet and used receipts for a nest, or simply a mountain of paperwork to get over to the auditors—and you’ve got a big task ahead.
Well, we’re here to tell you that even the biggest paperwork mountain can be climbed—if it’s transformed into a digital mountain, that is. A paperless office in which documents are scanned and stored into a retrieval system integrated with your company’s enterprise resource planning system can ensure a smooth, easier audit.
An Easier, Better Audit with ALTEC DocLink
Document and file management tools go beyond a scanner and a computer. Systems such as ALTEC DocLink enable you to transform paper-based documents into documents that can be annotated, shared, and tracked. They can be securely stored, too.
With ALTEC DocLink, you can:
- Improve the ease with which you can share documents: This goes well beyond scanned documents. Not only can you find and retrieve documents more easily, but you can also send them to various recipients and track the actions taken with each document. So, you can send auditors electronic files automatically throughout the year depending on how you have set up the system.
- Secure documents: Security settings enable you to control who has access to DocLink-based documents. You can set security parameters by role to ensure protection and security for documents.
- Configure document workflows: Route documents easily and quickly for approvals using automated settings.
- Connect with remote locations: The system easily connects with remote locations (like your auditor’s office!) and routes documents as needed
- Audit and match invoices: Match invoices easily with purchase orders, receiving documents, and packing slips for instant reconciliation
And much more.
Think of the time it can save you—and the headaches.
Consider how much time you’ve lost to preparing for the audit process.
- Determining lists of information needed by the auditors
- Gathering documents from on-site storage and off-site storage
- Hunting down random files that are lost, misplaced, or misfiled
- Photocopying documents and stuffing boxes or envelopes with them
Not to mention the shipping costs and time it takes to send documents to the auditors, the back-and-forth phone calls, and emails when something is missing, and the time it takes the auditors to comb through paper documents.
Now, with a paperless office and ALTEC DocLink, you can significantly streamline your audit process. Isn’t that worth a second look?
For more information about ALTEC DocLink visit Emerald TC.
Emerald TC
Emerald TC carries software for manufacturing automation, financial reporting, inventory tracking and more. We can help you choose the right accounting software, ERP system, payroll, or other software for your needs. Contact us or call 678-456-6919 for more information.