Three Ways to Maintain Financial Compliance

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When it comes to managing business finances, there are certain things that you absolutely have to do properly in order to maintain compliance with regulatory and taxing agencies.  In addition, there are ways to organize your finances that can provide insight, so you can determine what is going well within your organization, and what may need to be corrected.  The right business management technology can not only help you organize your business finances properly, it can also improve productivity and protect data integrity.  Here are three ways that U-LINC® can get your numbers in order.

  1. Connect the office:  Disconnected software programs put your people in silos, reducing communication and collaboration.  An integrated solution, like U-LINC and Microsoft Dynamics® GP brings your team together.  All of your financial data including general ledger, payables and receivable, proposed and actual budgets, and other financial data and reports can all be organized in Microsoft Dynamics GP so both you and your team can access data quickly and efficiently.
  2. Use notifications and audit trails:  Use U-LINC workflows to initiate automatic notifications and approvals for data changes, such as routing invoices or expense reports for approval.  Adding automation saves time (and trees) and speeds up the process between receiving an expense report, for example, and approving it in time for the next payroll run.  Microsoft Dynamics GP also includes audit trails that you can use when changes to data are being made.  Know who is making data changes and why so you can protect your data from mistakes.
  3. Protect data integrity:  There are many built-in workflow templates in U-LINC and you can also design your own customized procedures.  Workflows provide consistency and standardization for each of your financial procedures.  Your accounting team and managers can follow the steps to create a new vendor, approve credit limits, make an employee pay code change, or perform any other routine task.  By using the U-LINC workflow, each employee performs these tasks in the same way, each and every time, leaving no room for creative data entry or interpretation.

Your financial data is of critical importance to maintaining a healthy business, as well as maintaining compliance with regulatory and taxing agencies.  Business technology, like U-LINC can protect data accuracy and consistency, as well as improve productivity.  Contact Integrity Data for more information about using U-LINC to keep your numbers in the proper order.

By Integrity Data, a Microsoft Dynamics ISV out of Illinois Building Workflow Notifications and Alerts

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