Easily verify the mathematical accuracy of the figures in the financial statement. DataSnipper analyzes the document for you and adds suggestions for valid totals and errors. FSS is a separate paid DataSnipper add-on module that automatically analyzes your financial statements and helps you perform and document financial statement procedures quickly, while relying on your professional judgement.
Validate the mathematical accuracy
Click the Financial Statement Suite button in the top right-hand corner of the DataSnipper tab in Excel. Alternatively, launch FSS directly from your desktop by creating a shortcut or pinning it to your taskbar, or open an existing project you have already started.
Financial Statement Suite opens in a new window. You can import an existing tick and tie project from your desktop with the Import Project option.
You can also click the blue button to start a new tick and tie.
Import your current (and prior year) version(s) of your financial statement to start the tick and tie.
Once you have opened your project, you will see the overview page, including all the tests you can perform in FSS (Mathematical Accuracy, Internal Consistency, Spell Check, Prior Year Consistency, and Version Compare).
Click the Mathematical Accuracy tab to open the Mathematical Accuracy left-side panel.
DataSnipper automatically places suggestions of valid totals and errors. By hovering over the numbers, you can quickly analyze the suggestions and place tickmarks.
You can verify the totals with the help of the built-in calculator in the top right corner.
When you place tickmarks on the totals that are not mathematically accurate (incorrect), they appear in the findings sidebar with an automated comment.
You can click the highlighted findings to edit comments, change or remove tickmarks, or add custom tickmarks. If you click the rotation button, you can change the direction of the tickmark.
If you want to easily switch between the different tests you can perform in the Financial Statement Suite without going back to the overview page, you can do so directly through the collapsed sidebar.
Applying multiple tickmarks at once
If you want to apply multiple tickmarks at once, you can do that using the drop-down menu in the upper left corner. You can apply multiple tickmarks in four ways:
Apply tickmarks to the current page.
Apply all the tickmarks to the document.
Apply all suggested correct tickmarks to the document.
Apply all suggested incorrect tickmarks to the document.
Applying multiple tickmarks at once can be enabled or disabled on a company level. If you do not see this drop-down menu, your company admin disabled this feature for your organization.
FAQs
Does FSS recognize the direction of the total (vertical or horizontal)?
Yes, it does. Depending on the direction of the total (vertical or horizontal), one of the following mathematical accuracy tickmarks is added by the tool once you validate the total: ^ or <.