Lost Document Cost? – The Search & Wrong Answers
When Is Automated Workflow Justified?
It’s Tax Day – Do you know where your Supporting Documents Are?
IRS Publication 4837, otherwise known as “Achieving Quality Examinations through Effective Planning, Execution and Resolution” published by the IRS Large Business and International Division, indicates that it would be wise to have supporting documents readily available when audited. Because you want to defend your position and you really don’t want the cost of responding to the audit to be greater than the potential tax impact.
The IRS will make Information Document Requests (“IDRs”) to support claims made on any entities tax return involved in an audit. Various types of documentation support revenue recognition and expense claims. It is highly recommended that this documentation being organized, accessible and easily reproduced – sounds like a perfect scenario to justify an electronic document management system (“EDMS”).
Some types of documents that support revenue recognition are contracts, leases and licenses. To support transactional events like…
Do we really need a Secretary of the Future?
Workflow Metrics, the Extra Benefit
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