Record Retention for AP: Compliant Electronic & Paper Records Management
With so much data coming into AP, both electronically and in paper form, record management can be challenging. Because courts and regulators mandate what records must be kept and for how long, it's essential AP develops and implements effective record retention policies and deletion schedules. Failure to do so may result in time-consuming regulatory audits and costly litigation.
An effective records management program not only keeps your AP department organized, productive, and running smoothly - it also helps protect your organization from legal and regulatory risks. Join us to discover record retention best practices, designed to help ensure legal, regulatory, and organizational compliance. This 60-minute webinar will provide expert guidance on:
- Applying critical record retention practices for accounts payable departments
- Addressing legal and regulatory challenges and avoiding costly mistakes
- Understanding electronic vs. paper records: What to keep, what to purge -and when
- Creating an effective, compliant, best practices-based retention policy and deletion schedule
Record Retention Essentials: Best Practices for AP Departments
- Meeting IRS record retention guidelines and rules
- Administering self-audits to see where your department stands
- Protecting, preserving, and purging AP records
- Keeping business-critical data and records secure
- Differentiating between electronic vs paper records-and knowing how to manage them
Retention Compliance Guidelines: Preventing Time-Consuming Audits and Costly Fines
- Developing your document checklist and determining record lifecycles
- Knowing which documents should never be purged
- Complying with federal & state laws and government & industry regulations
- Responding to missing invoices and other record management missteps
Implementing an Effective Record Retention Schedule for Your Department
- Knowing the keys to an effective record retention schedule
- Moving past a stressful yearly purge to a strategic tiered system
- Avoiding common AP retention mistakes that can hurt efficiency and compromise compliance
Question and Answer Session - Hear expert answers to real-world questions!
About the Speaker
Dr. David Sanders, Ph.D. is considered one of the world's leading experts in accounting, finance, accounts payable, accounts receivable, payroll, budgeting, collections, cost accounting, personal finance, personal income taxes, business taxes, business set up, sales & use taxes. internal controls, inventory management, cycle counting, record keeping and vendor, supplier management. He has continuous requests to train employees and hold public seminars. He has conducted approximately 10,000 training sessions, including public seminars, on-sites, company training, chambers of commerce, colleges, training videos, CD's, and webinars worldwide.
- David is called upon nationally and internationally for his Sarbanes-Oxley (SOX) training abilities and to perform walk-through interim testing for core financial processes such as internal controls, fraud detection, internal controls, financial reporting, revenue, inventory controls, and expenditure testing.
- The author of four acclaimed books and over 25 seminar workbooks and numerous webinars.
- David has a wealth of experience to share that is supported by impeccable financial credentials including over 37 years' experience in the financial industry. He holds numerous degrees including Accounting, Business Administration, and Finance. His experience has included Accounting Manager, Corporate Controller, CFO, Government Tax Auditor, Business Consultant, and senior partner for various Accounting/ Tax/ Auditing firms nationally.
Join us for this 60-minute webinar to help ensure the proper management, retention and destruction of AP records. Learn keys to avoiding costly mistakes, while boosting departmental productivity and company-wide compliance.