Use DataSnipper's Invoice Extraction and Document Matching to perform Indirect Tax Testing, including extracting invoice details and reconciling ledger data to invoices.
What the video covers
The video demonstrates two indirect tax testing workflows: extracting invoice details with Invoice Extraction and pasting the results into a tax workpaper, and reconciling ledger data to invoices with Document Matching. It also shows how to define a tolerance threshold on the amount field in Document Matching so a small discrepancy in an invoice amount can still be matched and evidenced.
Prerequisites
Invoices and ledger details
DataSnipper v5.1 or later
Extracting details from invoices
Open your tax workpaper and import the invoices you want to extract data from.
Click Document Extraction in the Automation section of the ribbon and select Invoice Extraction.
Select the invoices and the data elements you want to extract.
Click Extract. The selected data appears in tabular form in your workbook with cross-references to the source invoices.
Copy and paste the snips into your tax workpaper. The embedded formulas perform the calculations automatically.
Reconciling ledger details to invoices
Paste your ledger data into the workpaper and import the invoices you want to reconcile.
Click Document Matching.
Configure a new test by selecting your sample data and invoice documents.
Select the output columns.
Then click Match all rows.
If a row fails to match due to a small amount discrepancy, navigate back to Document Matching, click the three-dots menu on the Amount input, and define a tolerance threshold.
Re-run the match to include rows within the threshold.
