Fines for the late filing of accounting documents doubles

27 April, 2016 As of 30 March 2016, Accounting officers can now be fined 2-4 times more for violation of rules according to the Federal law No. 77-FZ. Under article 15.11 of the Code of administrative offences of the Russian Federation, the size of penalty has increased by as much as 5 to 10 thousand rubles. For repeated violations, the fine goes up to 20 thousand roubles or disqualification 2 years. Documents referred to in the law are primary accounting documents, registers accounting, financial statements and auditor's report.

Fines for the late filing of accounting documents doubles

In line with article 13.25 of the Code of administrative offences, fines for companies will rise to 300 thousand rubles.

The solution for a company is to prepare files in a timely fashion, rather than delay the process until audits by government agencies. Not only are the services of a specialized company less expensive than the fines, but they help to reduce operating costs and enable staff to work more efficiently. Operational workflow improvements work smarter with suppliers and customers alike. In short, an intelligent archive becomes a competitive advantage in business.

Andrey Nikolenko, Director of the Department of the Documentation Support of Management and Archival Processing of OSG Records Management, Russia: «Transforming the way your archive is organised requires more than professional archivists, it requires experts in methodology too. Professionals must assess the importance of each document, then organize and compile them. Archive experts must have a good knowledge of the particular legislative framework for the storage of documents for particular industries before developing the right document management and storage system».

Reaching out to a professional document and data management company allows companies to create an effective archive in a very short time-frame. OSG has capacity to processes the largest of archives quickly and accurately. If handled using limited in-house resources, a company can take many months.

For even more efficiency companies are increasingly outsourcing document storage. It saves company office space, reduces staffing requirements, and provides many other operating advantages. OSG ensures that documents will be protected in a professional archival repository where access is strictly controlled. Furthermore, scanned images of original documents can be requested at any time.

The challenge for many accounts departments is obtaining primary documents from their contractors: invoices, contracts, etc. Suppliers often send their documents after the deadline, and frequently the documents are incorrect and must be requested again. The best way to speed-up the process is to create an electronic archive of documents. This solution accelerates document workflow significantly.

For the past 18 years, OSG has provided solutions for the commercial and state archives of Russia, helping companies to transform their archive into a valuable asset. OSG provides secure archival document storage for leading companies across Russia, from Kaliningrad to Petropavlovsk-Kamchatsky.

FOOTNOTE
OSG is a leader of storing and managing documents and information for companies operating in the CIS and the EU. With over 40 years of experience in the industry, OSG serves more than 3,000 companies in Russia and abroad. The company's activity merited multiple professional awards. Today, OSG stores and processes more than 10 billion documents in 5 countries. The OSG services includes document storage, scanning of documents, creating electronic archives, the environmental destruction of documents, data backups and much more.

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