. Cranberries; : the national cranberry magazine. Cranberries. system can be used for accounts payable. Your accountant's work sheets and his office files will contain pertinent informa- tion about your operations. Also, his tax files will contain valuable supporting sche- dules to substantiate purchases of fixed assets subject to depreciation and similar information. YOU can also purchase a type of policy which has been tailored to protect you in case of record loss or damage. Your insu- rance agent can check with casualty insu- rance companies to locate low cost coverage for a policy called
. Cranberries; : the national cranberry magazine. Cranberries. system can be used for accounts payable. Your accountant's work sheets and his office files will contain pertinent informa- tion about your operations. Also, his tax files will contain valuable supporting sche- dules to substantiate purchases of fixed assets subject to depreciation and similar information. YOU can also purchase a type of policy which has been tailored to protect you in case of record loss or damage. Your insu- rance agent can check with casualty insu- rance companies to locate low cost coverage for a policy called "valuable paper insu- ; Its cost is at a rate slightly in excess of the regular fire insurance rate, but you need only insure the valuable papers for that amount which you believe would com- pensate you adquately for their loss. Valuable papers (exclusive of cash or securities) can be insured against "all risks" on: (a) a blanket basis with the amount of insurance purchased available to meet the expenses of reconstructing the missing, damaged or destroyed records; (b) a sche- duled basis with specific dollar amount(s) assigned to the items insured (this will be the amount paid in case of loss); and (c) a combination of the two foregoing methods. Exactly what does a valuable paper insu- rance policy cover? The insurance company will pay you for the costs (investigation, redevelopment, research, labor, etc.) of reproducing records which have been destroyed, demiaged or lost. Where repro- duction is not possible, payment will be made for the agreed value as specifically listed in the schedule. It should also be noted that while an insurance company could replace scheduled items at its option, this is rarely done. The insurance company could, however, exercise its privilege if a scheduled amount of insurance turned out to be exces- sive and if the item(s) could somehow be reproduced. The questions and ramifications of this area of coverage should be discus
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