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Advantages of Electronic Signatures in Accounting

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Accounting is a distinct industry. However, it is important for individuals and businesses in almost every industry. Accounting professionals are responsible for tax planning, bookkeeping, financial management, payroll, and other financial functions. This is done to ensure compliance, healthy business growth, and management. This type of work requires smart, organized, and well-informed approaches. They are also streamlined to ensure maximum accuracy and efficiency. Electronic signatures are here to help.

We'll be discussing the many practical and unique benefits of electronic signatures in accounting .We'll also give you an insider's view of how eSign electronic signings are becoming increasingly popular.

Electronic Signature Benefits

Electronic signatures can help accountants and accounting firms improve productivity and provide benefits for everyday processes. Here's why:

  • Faster Document completion: Time is money in accounting. Particularly in tax accounting, accountants live by deadlines. Failure to meet deadlines can lead to costly penalties and fees. Accounting firms and professionals are using electronic signatures to quickly obtain client-completed documents. This ensures that forms and payments can be processed on time.
  • Enhanced Convenience. Accountants are busy and don't want to have to deal with messy paperwork. Electronic signatures allow documents to be signed quickly and easily from anywhere the signer is located. This adds convenience to everyone's day.
  • Securer: Accounting documents often contain personal identifying information (PII), such as bank account numbers and social security numbers. There is always a chance that traditional paper documents could be lost, stolen, or seen unintentionally. Accounting firms can offer their clients additional security through digital documents. They can ensure limited visibility, password-controlled access, digital signatures, and other features.
  • Industry-Compliant: Compliance and regulatory requirements are essential for those working in finance and accounting. Guidelines can be easily met and IRS electronic form requirements can be met with knowledge-based authentication (KBA), and multi-factor authentication(MFA) options through electronic signatures.
  • Faster Payment: With electronic signatures, accountants can send invoices electronically and pay them immediately. For approval and payment, simply email the invoices or embed the signing forms on your site for fast filing and submission.
  • Improved Team Collaboration: When multiple people or departments need to work together on an account or other document, electronically signed accounting documents make it easier and more efficient. This allows emails to be easily sent and edited by team members.
  • Higher accuracy: Accounting is a critical area of precision. Multiple parties can sign a document at once, or there may be multiple fields that require signing. Additionally, different information may need to gather. Electronic documents allow for greater accuracy and enable accounts to assist signers by marking the areas that require signatures and providing data. Document creators have the ability to make changes or correct mistakes in minutes and send them back to signatories.
  • Higher Savings: In the end, electronic documents and signing are much cheaper than pen-and-ink and paper signing. Accounting firms can reduce overheads and better use their budgets by switching to digital.

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Using eSign In Your Workflow

eSign was designed with accountants and accounting companies of all sizes in the mind. You need a custom-designed solution for handling sensitive information and documentation. Here is a look at the design's offerings:

  • Secured Fields to Protect Document Privacy: If private information is required, the design offers secure fields that can block out any or all of a field. This can be particularly useful when dealing with numbers such as social security numbers or bank account numbers.
  • Meet Compliance Requirements and Verify Identity With KBA: If you are an accountant in the banking sector or a regular submitter of IRS tax forms, security elements such as eSign's MFA and KBA features are not only recommended but required. These functions can be used by accountants through our electronic signature solution to provide an additional step for further proving and establishing the identity of signers.
  • Add Template Rules to Increase Convenience: Accounting users can add fields to a template from design to any document that matches the keyword. This allows them to optimize and automate document processes.
  • Create a Content Library to Speed Up Form Completion. Many forms of accounting are repeated over and over. For faster document delivery, save commonly used forms to your own content library.
  • Delegate Signatories to Clear Signing: With just a few clicks you can delegate who signs what in any document. This saves both signatories as well as accountants time and effort.
  • Avoid errors by mandating field completion and providing instructions Long documents can lead to mistakes or misspellings. With the use of electronic signatures and digital documents via eSign accountants can reduce errors and the time it takes to correct them by including mandatory field completions as well as custom document instructions.
  • Quickly update templates with file replacement: Using in, you can easily swap out or update documents with the same fields. To update templates quickly, simply use our template replacement tool.
  • Increase Productivity by Integrating Signing into the Apps You Use. How many processes or procedures do you and your clients use on a daily basis to access apps and software like Gmail, Google Docs, and SalesForce? 's design allows you to easily integrate signing into existing apps. 
  • Upload Practically Every File Format: We know that everyone works differently. This is why we offer a variety of file formats for creating forms and documents. 's design makes it easy to upload any file format.
  • Automatic Document Saving to Cloud Storage and SFTP Servers: It is time to get rid of the old file cabinets and go digital. Electronic signatures will simplify the signing process and allow you to automate document storage and saving. You can send your documents directly to Google Docs or locally to your own SFTP servers.
  • Control Viewership by User Permissions: Accounting professionals need to maintain visibility control over documents. eSign in the financial industry simplifies visibility control by providing simplified tools to establish user viewing permissions.