Practice of FAS 27/2021 "Documents and Document Flow in Accounting"

We want to share some practical recommendations for the use of FAS (Federal Accounting Standards) 27/2021 "Documents and document management in accounting", which can help you improve the efficiency of documents and ensure the accuracy of accounting.

Mainstay Business Consulting will focus on such areas as:

  • 1. Keep all documents in a single system. It's important to have a single system for keeping track of documents to eliminate the possibility of losing them.
  • 2. Carry out document numbering. Document numbering helps ensure that all documents are accounted for and that you control the sequence in which documents are received and sent.
  • 3. Don't forget about document retention periods. The law requires a specific retention period for various documents. Be sure to take it into account.
  • 4. Use electronic document flow. The use of electronic document circulation helps to transfer documents quickly and effectively, saving time, resources and reducing the possibility of mistakes.
  • 5. Train your employees. Training your staff on how to record and process documents will help avoid mistakes and miscommunication when working with documents.
  • 6. Automate document accounting and workflow. Software can help automate document accounting and workflow to improve data accuracy and save time.
  • 7. Check documents before they are sent/signed. Checking documents helps detect errors and/or omissions, which can help prevent problems in the future.

Following these guidelines will help improve document and workflow management, reduce the risk of errors, and improve accounting quality.