Overview

ONESOURCE Administration (Reference Data):

ONESOURCE maintains central reference data, and Reference Data provides general purpose data elements about common or universally understood items that can be used in, and accessed by, multiple ONESOURCE applications and tools. The Reference Data elements are curated by Thomson Reuters and provide a standard set of facts that can be universally understood. Some Reference Data items allow you to indicate the relevance of items for your company; to filter the entire list to a smaller more appropriate list or to provide an alias that displays to better understand the item.

There are two types of Reference Data – lists, and lists with custom elements.

• Authorities, Currencies and Financial Hierarchy are lists
• Domains and Jurisdictions are lists with custom elements

Jurisdictions APIs:

ONESOURCE Jurisdictions APIs provide developers with access to a list of geographic locations that are curated by Thomson Reuters and are available in several ONESOURCE applications.

Jurisdictions are classified by their types and ranging from the highest level, being Country, down to lower levels, such as Village or Town.  At the Country level, the API returns ID, Name, ISO 3166 code (2 & 3 Characters) and Located in Region.  At lower tiers, the API returns ID, Name and Located in for next level up (ex. a City may have its State, a Province may have its Country, etc.)

ONESOURCE Central Management of Jurisdictions assists with creating consistency and allows information to be labelled creating an understanding for where it is located.

• Sandy, a developer, needs to have a list of the jurisdictions available per geographic location, under a project requirement with TR.
• She needs to range all jurisdictions following types and levels, to follow the guidelines and obtaining the correct results.
• Sandy was informed about ONESOURCE Jurisdictions APIs, which uses ONESOURCE Central Management of Jurisdictions for consistency across the board.
• She is surprised to find that ONESOURCE Jurisdictions APIs is able to make her job easier and without issues.

Domains APIs:

ONESOURCE Domains APIs provide developers access to a list of various tax and business areas that are curated by Thomson Reuters and are available in several ONESOURCE applications.

Domains are grouped into one of four types: Business Filings, Direct Tax, Fiduciary Tax and Indirect Tax.  A Domain represents a specific area of tax or business that is being addressed (ex. under Indirect Tax there are Domains such as Value Added Tax, Goods and Services Tax, Sales and Use Tax, Excise Tax, etc.)

ONESOURCE Central Management of Domains assists with creating consistency for labelling information with the tax or business area that it relates to.

Currencies APIs:

ONESOURCE Currencies APIs offer developers access to a list of currencies that are curated by Thomson Reuters and are available in several ONESOURCE applications.

For each of the Currencies, the API returns ID, Label and ISO 4217 code (3 Characters).

ONESOURCE Central Management of Currencies assists with creating consistency, and allows information to be labelled, creating an understanding for the monetary unit associated with the financial data.

Authorities APIs:

ONESOURCE Authorities APIs offers developers access to a list of governmental agencies that are curated by Thomson Reuters and are available in several ONESOURCE applications.

Authorities are associated with the Jurisdiction and the Domain(s) that the authority covers.  This list primarily includes authorities that ONESOURCE applications use and is a partial list of all possible authorities.

ONESOURCE Central Management of Authorities assists with creating consistency around selecting the authority that is being targeted for information, and the work that is being done.

Financial Hierarchy APIs:

ONESOURCE Financial Hierarchy APIs provide developers access to a hierarchical list of Financial Accounting Classifications that can be further used to describe what type of business data is to various ONESOURCE applications.

Globally, there are multiple Accounting Standards that can influence the presentation of Financial Data, and across the ONESOURCE suite, there are different approaches to that presentation layer by countries or authorities. 

ONESOURCE Financial Hierarchy provides a curated ONESOURCE generic standard to allow financial data to be classified into a category of data.  That standard can then be interpreted by each ONESOURCE application to group data and present the data to meet the specific needs.

ONESOURCE Financial Hierarchy is the standard for the platform that will assist with making data more useful and understandable across all processes. By mapping Accounts in a Chart of Accounts to the Financial Hierarchy any data attached to that account will now have a greater understanding of the meaning of the data.

• Consistency and Accuracy: Centralized reference data ensures consistency and accuracy across all products
• Ease of Updates and Maintenance: Managing reference data centrally makes it easier to update and maintain information
• Facilitates Integration: Centralized reference data can be more easily integrated into various products

Image detailing an overview of ONESOURCE products