Description

Beyond the essential data described in Step One of this Help file, the type of data that needs to be entered depends on the stage the company is at in the documentation process.

Important Considerations Before Starting 

Most of the functions of the application depend on information pertaining to companies and personnel.  If you haven't already entered the basic data for companies and personnel described in Step One please do that before continuing.

Additional information that needs to be entered depends on where the company is in the decision-making process and whether documentation has been generated.

No Decisions & No Documents:  If the business is just beginning and no decisions have been made and no documents have been generated, enter information into the application when decisions are made in the normal decision-making process.

Decisions & Documents:  If decisions have been made and there are resolutions documenting decisions, it is up to the board of directors as to whether previous documents should be copied into the application database.  The primary reason for copying old documents into the database is that documents can then be quickly accessed from the Saved Documents table.  The decision can be influenced by the quality of the old documents and the amount of time involved in making the database current.  If old documents were stored in a word processor the text can be easily copied and pasted into the word processor and saved to the database.  (This does not negate the need for a physical record manual containing signed documents.)

Decisions But No Documents:  If decisions have been made but there is no documentation, the information can be entered into the database.  Data related to officers, directors, shareholders, meetings, and stock transactions will automatically appear as default answers to questions for new documents.

If the directors vote that past documentation should be developed and saved in the database, there should be a resolution documenting that decision as well.

Directions for each of the functional areas of the application are provided in Step Two of the Help file.  The specific information that needs to be entered is unique to each company.  The information provided here is only a guide.  It is important to contact an attorney and/or CPA for professional advice concerning requirements in the state of incorporation.