As businesses and organizations invest in research and development to stay competitive in their industries, keeping track of supporting documentation becomes crucial. Proper documentation is a must to demonstrate that eligible activities were performed and eligible expenditures were incurred in relation to submitted Research and Development Tax Incentive (RDTI) activities and that all other legislative requirements under the program were met. Keeping track of the required documentation can be a tedious and time-consuming process, but it is essential for any business or organization to maximize its returns.
The best supporting documentation is created during the development process. Documentation comes in a wide range of formats and content, including general documents like business case documents, competitor research, literature reviews, and market research. Technical meeting notes, development contract agreements, presentations to board members, and contractor invoices are also valuable forms of documentation.
Synnch was designed to streamline this process. It’s designed to help keep track of RDTI activities and expenditures and organize them in one place. Find some input per industry below on what documentation should be created during the development process:
Software Development
Technical specification requirements
Technology evaluations and comparisons
Architectural diagrams
Design documents
Jira boards and tickets
Test plans
Test documentation
Test results
Manufacturing
Technical specification sheets
Test method documentation
Designs of experiment
Pictures of experiments
Prototypes and test results
Prototype design iterations
Preliminary design and test correlation analysis
Life Science
Technical specification sheets
Material selection evaluation
Designs of experiment
Test method documentation
Test results and analysis
Prototype design iterations
Pictures of experiments, prototypes, and test results
Animal studies’ protocols, test data, and results
Agriculture
Desired genetic traits in future crops
Genetic analysis of parent crops
Genetic analysis of hybrid crops
Breeding protocols
Test data and results
Field trial results