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April 2004
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Sarbanes-Oxley Legislation |
By Anthony Mullins
Sarbanes-Oxley (SOX) is the post-Enron legislation designed to boost investor confidence by strengthening and formalizing the internal controls underlying the financial statements of public companies. Though SOX is specifically designed for public companies, the ramifications can be felt through the private sector, which too have desires to document and prove that their financial statements are reliable.
Much like HIPAA (Health Insurance Portability and Accountability Act of 1996) compliance, SOX compliance can mean many things to many people. With that in mind, what does SOX require? It says that management must formally document and annually evaluate the design and operational effectiveness of internal controls for financial reporting. A financial control, as meant by SOX Section 404, is a process – human or IT-based – implemented by the company to provide reasonable assurance that a particular assertion in its financial statements is reliable. This means that every significant transaction represented by the assertion actually occurred, was fairly valued, correctly classified, etc.
By providing a central and secure database of electronic documents with automated audit controls, TopForm Document Imaging’s EDM (Electronic Document Management) solutions can provide you and your publicly-owned customers with the necessary tools to comply with SOX or internal standards. Our applications have tightly integrated workflow automation, access control, version control (check-in / check-out ability), and real-time audit trail functionality. These tools generate an ideal solution to provide confidence on the executive and employee level knowing that financial completeness and best practices are being adhered to within the organization.
To learn more about Sarbanes-Oxley legislation and compliancy, simply click www.sarbanes-oxley.com. For further information about the solutions TopForm Document Imaging offers, please email Anthony Mullins at
anthony.mullins@topform.com.
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TopForm is in the process of implementing a Knowledge Base system for our customers. Look forward to being able to do research on procedural task as well as software issues based on key word searches.
Example:
How do I set up a customer who has a combination of taxable and nontaxable locations?
If your customer has any taxable locations, then the customer needs to be set up as Tax Exempt "No.” The customer as a whole is not tax exempt. Then you set each possible ship to location with the tax flag set appropriately depending upon whether you collect and report tax for that state.
If you ship to a location that is taxable, the taxable flag will remain set to yes. If you ship to a location that is in a state that is not taxable, it will change the taxable flag to "No".
The converse is not true. If you set your customer to tax exempt "Yes" and then ship to a location that is in a state where you should be collecting tax, the taxable flag will not be changed because you have designated that the customer is tax exempt.
Key words
Sales tax
Tax Exempt
Taxable
Non-Taxable
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Robyn Shumaker just celebrated her 10 year anniversary with TopForm.
Robyn Shumaker
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We would like to thank all of our customers who attended the 15th Annual Conference at the Evergreen Conference Resort in Stone Mountain, GA. Once again our customers helped make our conference a huge success.
Our change to conference documentation was well received. Attendees received handouts for only the sessions they attended. They also were provided with a CD that contained all presentations that could be shared with co-workers.
We have received great responses regarding this year’s Principals meeting which was held on Thursday. Douglas Dunn from Tully-Wihr Company stated “I would like to thank you for the great event that your team put on. The Principal’s forum gave me an opportunity to meet and exchange ideas with other Principles. It also gave me the time to share thoughts and ideas, which I appreciated.
Carl Grizzelle from Webb/Mason, Inc. stated
“I was satisfied with the knowledge gained. I will utilize the knowledge to provide more efficient service to our clients. TopForm staff is very knowledgeable of their products.”
Ray Alen from DocuSource “It was a great experience. I really appreciated the TopForm staff, their positive attitude and their depth of knowledge."
Donna Dennis from Suncoast Forms and Systems was the winner of our random drawing for our
TopGun 2003 Winner. CONGRATULATIONS DONNA!
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Conference CD Available for Order |
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Of course there is no substitution for actually attending the conference
with the one on one interaction with TopForm experts and other users. However, the next best thing would be to purchase the TopForm Client
Conference 2004 CD. This CD is jam packed with value for only $89. Please
contact Jean Dudek at jean.dudek@topform.com
if you would like to order your copy.
Client Conference 2004 CD Includes:
- All the PowerPoint presentations used by the presenters
- Written documentation on all training and informational sessions
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