Sometimes customers will ask me why we scan all of their financial documents. Let me list off a few of the reasons.
- In case of natural disaster such as a forest fire or flood. Alberta has seen the devastation that a forest fire can do and I’ve witnessed businesses scrambling to collect financial documents from all of their suppliers and banks so they can redo their books and records all over. This is crazy! The last thing you want to do during a natural disaster is worry about your business’ financial records and documents. We scan, store, and share them online so you can have a speedy recovery for your business’ financials.
- Ease of finding/retrieving. Ever look through a file cabinet, dig for a particular folder that’s busting with papers, then tediously go through each paper in the hopes of finding that one little receipt? Or even worse, having to drive to another site to find that paper? We prefer searching in our virtual file cabinet. We love it so much, we share that access with our customers and their accountants. Fast, secure, AND accessible via mobile phone. Do I really need to say more?
- Longevity. CRA requires a business to store their supporting documents for 6 years plus the current fiscal. Storing papers beyond that limit can be very costly using up valuable floor space. The space required for 10 years of scanned documents is MUCH less then it is with physical paper documents. But if you prefer living in a paper castle…
- CRA Audits. A long long time ago, before scanning, I experienced an audit where we had to retrieve all of the paper documents so we could fax them to the CRA. Then we got smart, and so did they. Now we grab the scanned files they need and upload them to the CRA website. Now audits are actually fun. Yes, we are geeks.
Our bookkeeping services include scanning and sharing documents online via SmartVault. Fast recovery time for your business.