Archiving of Financial Data in Accounts Receivable : The Case Company UPM-Kymmene Oyj
Bruss, Jennifer (2010)
Bruss, Jennifer
Tampereen ammattikorkeakoulu
2010
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2010112515713
https://urn.fi/URN:NBN:fi:amk-2010112515713
Tiivistelmä
The commissioner company, UPM-Kymmene Oyj, is a Finnish paper, pulp and timber manufacturer and one of the industry leaders worldwide. This thesis has been carried out for UPM-Kymmene’s Financial Services Centre in Tampere, in particular for accounts receivable.
As financial records are of high evidentiary value to auditors and customers for transactions and customer accounts, it is mandatory that archiving procedures for this data comply with legislation. Therefore harmonized material needs to be available to employees to ensure that the process is carried out correctly.
Main goal of this paper was to develop a foundation for legally complying guidelines on archiving of financial data in the accounts receivable function. The research for this final thesis was conducted in close cooperation with UPM-Kymmene Oyj and consisted of investigation of legal requirements on electronic or paper archiving per document type, as well as clarification on their retention schedule. The process scope has been limited to central European countries, in which UPM-Kymmene Oyj’s daughter companies are listed. Already existing guidelines for the accounts receivable team have been updated in the process of the thesis development and follow-up material has been created by the author of the thesis in order to ensure correct labelling and archiving per company and country of listing.
Future changes in statutory requirements for reporting and document management processes will require continuous research and therefore the paper can never be considered absolutely complete. At the time of the research legislative requirements were provided by UPM’s Closing and Reporting function and were considered sufficient for the project of this final thesis. It is recommended to invest in maintenance of the guidebook constantly to guarantee best performance possible.
This thesis includes confidential information that has been removed from the published version on the commissioner’s request. If chapters were removed due to confidentiality, it has been marked in the text.
As financial records are of high evidentiary value to auditors and customers for transactions and customer accounts, it is mandatory that archiving procedures for this data comply with legislation. Therefore harmonized material needs to be available to employees to ensure that the process is carried out correctly.
Main goal of this paper was to develop a foundation for legally complying guidelines on archiving of financial data in the accounts receivable function. The research for this final thesis was conducted in close cooperation with UPM-Kymmene Oyj and consisted of investigation of legal requirements on electronic or paper archiving per document type, as well as clarification on their retention schedule. The process scope has been limited to central European countries, in which UPM-Kymmene Oyj’s daughter companies are listed. Already existing guidelines for the accounts receivable team have been updated in the process of the thesis development and follow-up material has been created by the author of the thesis in order to ensure correct labelling and archiving per company and country of listing.
Future changes in statutory requirements for reporting and document management processes will require continuous research and therefore the paper can never be considered absolutely complete. At the time of the research legislative requirements were provided by UPM’s Closing and Reporting function and were considered sufficient for the project of this final thesis. It is recommended to invest in maintenance of the guidebook constantly to guarantee best performance possible.
This thesis includes confidential information that has been removed from the published version on the commissioner’s request. If chapters were removed due to confidentiality, it has been marked in the text.