Use DataSnipper's Form Extraction and Document Matching to review intercompany transactions, extract invoice details, and reconcile transaction summaries to supporting documents.
Prerequisites
Intercompany transaction documentation from your client
Supporting evidence: intercompany invoices, agreements, financial statements, and tax filings
DataSnipper Professional or Enterprise package
Extracting details from invoices
Open your transfer pricing workpaper and import the invoices to extract.
Click Document Extraction in the Automation section and select Form Extraction. Click Start new form extraction and select the relevant invoice files. Note: all documents in a single Form Extraction run must have a consistent layout.
Add extractions for each data element you need, drawing over the relevant area in the first document. Name each extraction clearly.
Click Save as template to reuse the configuration for future engagements.
Click Export to Excel. Copy and paste the snips into your workpaper.
Reconciling transaction summaries to supporting documents
Paste the intercompany transaction summary data into your workpaper and import the supporting documents.
Click Document Matching, configure a new test selecting your sample data and supporting document folder, then click Match all rows and review the output.
If a row fails to match because the amount is not present in any document, use the Mandatory field option to enforce that only documents with a matching amount are reconciled. Click the three-dots menu on the Amount field in Document Matching and select Mandatory field. Re-run the match to apply the constraint.