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  Posted: October 18, 2023

How to Manage Documents and Finances

Manage your finances and documents

A financial institution’s trust department is usually responsible for managing a variety of crucial documents, including powers of attorney, conservatorship papers and investment portfolios and banking statements and bill payment. All of these documents are subject to strict compliance rules, which means they have to be tracked and managed in an organized way.

Start by gathering all your documents together. Then, sort them by type (banking and insurance, for instance.) Then, sort them according to type (banking insurance, bank.) Once sorted, you can put them in three folders and label them. You can then save them for future use or shred them. This will help you save time from having to look through old files and will allow you to avoid paying for items or services that you already own.

Utilizing a digital document-management system like BDS is a different way to keep your financial records and documents in order. By storing your financial data in a digital format, it is much easier to access and locate whenever you need to. Additionally, your financial records are more secure in a digital format than on paper. Contact us today to learn more about how we can enhance your workflows and help you keep your records in compliance.