How to perform Capital Expenditure Authorization with DataSnipper

In this article, learn how to use DataSnipper's powerful features to validate key attributes of a capital expenditure transaction.

Video Tutorial

Load Supporting Documentation

  • Import all necessary supporting documentation into Excel using the Document Organizer.
  • This includes the proposal document, financial ledger entries, approval documents, invoices, and purchase orders.
  • Ensure OCR (Optical Character Recognition) runs successfully on the documents.

Testing Attributes
Testing focuses on three key attributes that align with capital expenditure controls for a sample of one. 

Attribute 1: Supporting Proposal Details

  1. Open the Expenditure Request Form
    - Use the Document Viewer to navigate to the Expenditure Request Form.
    - Extract key details using the Text Snip tool.
  2. Open the Proposal Document
    - Use the Document Viewer to navigate to the Proposal Document.
  3. Validation Snip
    - Use the Validation Snip to highlight key sections of the proposal, such as the cost-benefit analysis, ROI projections, and vendor quotations.
  4. Review and Validate
    - Ensure the extracted details match the requirements: detailed cost-benefit analysis, clear ROI projections, and valid vendor quotations.

Attribute 2: Authorization by Required Personnel

  1. Open the Approval Documents
    - Use the Document Viewer to navigate to the approval documents.
  2. Text Snip
    - Use Text Snip to highlight and extract the authorization signatures from the department head and Director of Procurement/CFO.
  3. Review and Validate
    - Verify that all required authorizations are present and correctly signed.

Attribute 3: Supporting Documents and Ledger Entries

  1. Open the Financial Ledger and Supporting Documents
    - Use the Document Viewer to navigate to the financial ledger entry and supporting documents (e.g., invoices, purchase orders).
  2. Search & Snip
    - Use Search & Snip to reconcile the expenditure amount across the ledger, purchase order, and invoice.
    - Extract and compare these amounts to ensure they match.
    Alternative Method: Validation Snip with Ctrl Key
    - In the conclusion section, use Validation Snip along with the Ctrl key to link multiple amounts (ledger, invoice, and PO) into one cell for quick review.
  3. Review and Validate
    - Verify that the ledger entry accurately reflects the approved expenditure and matches the details in the supporting documents.

By following these steps, you can effectively perform Capital Expenditure Authorization using DataSnipper, ensuring compliance and accuracy in your documentation and processes.