Legacy accounting systems make document storage time consuming and too complex.
You need to manually sort by date, then cancel the files on a schedule. A document management system for accounting makes it easy to capture document information such as the invoice date and storage date. Document metadata capturing is a feature that is included in your database storage.
Also, you tell the system for how many months you wish to keep financial statements, invoices, and other documents. As there are various document types, with a cloud based Document Management System in place, discarding outdated documents becomes easy. And these old electronic documents are exported and deleted from the archives.