CPA Practice Advisor

AUG 2012

Today's Technology for Tomorrow's Firm.

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STANDARDIZATION Establishing Standards P A paperless accounting practice is in many regards very similar to one based on paper, although it will be much more efficient if good practices and standards are implemented during the transition to paperless. Many firms start the move to paperless by scanning documents and storing them on a hard drive in some sort of homegrown folder structure. This gets the process started, but standards are hard to enforce and implement. Problems with this approach include: r /P FOGPSDFBCMF OBNJOH TUSVDUVSF GPS DMJFOU GPMEFST BOE EPDVNFOUT r .JOJNBM BOE EJđDVMU UP VTF TFDVSJUZ GFBUVSFT r 8FBL BOE GSFRVFOUMZ VOVTBCMF XPSLĚPX QSPDFTTFT r -BDL PG HSBOVMBS TFDVSJUZ DPOUSPM r /P FđDJFOU EPDVNFOU DBQUVSF NFUIPET r /P XBZ UP FđDJFOUMZ BOE TFDVSFMZ TIBSF EPDVNFOUT XJUI DMJFOUT r "CJMJUZ UP SFNPUFMZ BDDFTT EPDVNFOUT .PTU PG UIFTF QSPCMFNT PDDVS CFDBVTF UIFSF JT OP XBZ UP GPSDF B VTFS UP OBNF B EPDVNFOU PS BQQMZ TFDVSJUZ JO B TUBOEBSE XBZ *G TPNFPOF HFUT JO B IVSSZ PS TJNQMZ GPSHFUT JU JT RVJUF TJNQMF UP OBNF B ėMF JODPSSFDUMZ ėMF JU JO UIF XSPOH GPMEFS BOE PS BQQMZ TFDVSJUZ JODPSSFDUMZ *O BEEJUJPO UIFSF JT OP XBZ UP XPSLĚPX B EPDVNFOU UISPVHI B CVTJOFTT QSPDFTT FĎFDUJWFMZ 5ZQJDBMMZ "EPCF PS TPNF PUIFS QBDLBHF JT VTFE UP TDBO EPDVNFOUT POF BU B UJNF XJUI OP TPSU PG CBUDI JOQVU *O PSEFS UP PWFSDPNF UIF TIPSUGBMMT PG VTJOH B 8JOEPXT &YQMPSFS; TUSVDUVSF JU JT CFTU UP TUBSU XJUI BO FMFDUSPOJD EPDVNFOU NBOBHFNFOU TZTUFN &%.4 for th

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