Use MonJa’s Smart Scan Technology to Extract Data from Form 1120s

Use MonJa’s automated solution to process the IRS Form 1120s with better accuracy. Efficiently streamline your document processing activities with MonJa’s Smart Scan Technology.

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Problem

Form 1120s is one of the most important taxation documents for S-corporations as it is used by them to report crucial information including income and dividends. Form 1120s is also required by these corporations for getting benefits under the COVID-19 related tax relief programs.

Manual processing of 1120s forms not only adds a massive workload on your resources but may also increase the chances of errors.

Solution

With MonJa’s Smart Scan Technology, the users can automate the task of extracting the information from 1120s forms. Thus hundreds of forms can be processed at a better speed and with improved accuracy.

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Fields that are extracted through MonJa’s Smart Scan

Below mentioned are the different fields that can be added, deleted, or moved automatically with the help of MonJa’s Smart Scan Platform

General Information

  • Name
  • Address
  • Employer ID Number
  • Business Activity Code
  • Date of Incorporation, etc.

Line Items

  • Investment Expense
  • Investment Income
  • Basis of Energy Property
  • Low-income Housing Credit
  • Other Credit’s Recapture, etc.

See How Your Institution Can Benefit From MonJa Underwriting Automation

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Reduction in document collection and processing time
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Increase in Loan Origination Volume
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Decrease in Loan Processing Duration

MonJa’s Smart Scan Workflow

  • Document Upload

  • Image pre-processing

  • Classification

  • Automated Scanning

  • Financial Ratios

Interested to find out if MonJa’s underwriting automation platform is a fit for your organization?

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