E-Document Flow and Storage: Key Aspects for Business

The Deals portal has published an article focusing on the specifics of electronic document management (EDM) and the storage of primary documents in Ukrainian enterprises. It emphasizes the importance of adhering to legislative norms to ensure efficiency and avoid legal risks.

According to Ukrainian legislation, enterprises independently determine their document management rules and accounting information processing technology, while adhering to general provisions. Document management is defined as the movement of documents from their creation to the completion of their execution and transfer to archives or dispatch. The head of the enterprise is responsible for the strict adherence to the established procedures for document preparation and submission.

Key Requirements for EDM and Storage

• Conducting EDM: Electronic documents are sent and transmitted in electronic form. The dispatch date is considered the moment when the dispatch can no longer be canceled. A document is considered received by the addressee upon the author’s receipt of a confirmation message. The confirmation of receipt must include data on the time and fact of receipt.
• Qualified Electronic Signature (QES): Confirms the signatory’s identity and the integrity of the electronic document, ensuring its legal validity.
• Storage Periods: Primary documents are divided into long-term (over 10 years) and temporary (up to 10 years) storage. The calculation of these periods begins on January 1st of the year following the completion of business operations. Electronic documents must be stored on electronic media for at least as long as their paper counterparts.
• Liability: Violations of document storage periods are subject to a fine of UAH 1020 (UAH 2040 for repeated violations) according to the Tax Code of Ukraine.

This information is valuable for Ukrainian businesses and the Intecracy Group audience for several reasons. Firstly, understanding the requirements for EDM and document storage helps ensure compliance with legislation and avoid penalties. Secondly, proper organization of document flow enhances the efficiency of internal processes and optimizes document handling. Thirdly, strict adherence to storage rules guarantees the availability of necessary data for regulatory bodies and for resolving issues with counterparties.

Source: Deals