Document Management Checklist

Source: Practical Accountant

Here’s an abbreviated list of what you should do in installing a document management system. For details, see the complete article by clicking on the link below.

• Set up a team to do the planning.
• Install an effective search procedure.
• Decide whether to organize files by client, by year, by engagement, by service, etc.
• Virtual file cabinets should be planned carefully because it’s difficult to change them later.
• Create an action plan. Be sure to add old files.
• Find a system that facilitates document retrieval.
• Retention should consider firm needs as well as regulatory needs.
• Start during the summer.
• The document system should follow the pattern of your paper document system.
• Use dashboards for clients, staff, and partners to show information about users and engagements.
• Be sure to arrange for remote access.
• Communicate everything to staff.
• Train, train, train.
• Purchase dual screens, scanners, flash drives, etc.
• Make sure the products of different vendors integrate with each other.
• The system should be interactive.
• The system should be integrated with your e-mail system.
• Don’t clutter the system with unnecessary documents.
• Use a scanning sheet that indicates in which folders to store the documents.
• Move old (e.g., over three years) files to off-site storage every year.
• Client data should be digitized upon receipt.

For the complete article, click here and select the article "Document Management: Dos and Don’ts" from the July 2008 issue.

From Practical Accountant, July 2008, SourceMedia Inc., One State Street Plaza, 27th Floor, New York, NY 10004, 800-221-1809.

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