Overview

This document provides a set of APIs designed to provide reports extracted from ONESOURCE Reports and Analytics, along with custom reports, for compliance reporting, tax period filing and accountant & financial processes, based on NGRA architecture.

We will go through a product use case for Transaction Extracting Reporting API, providing an example of a detailed audit for automated discrepancy resolution.

Transaction Extract Product Case

Creating reports from documents in a safe way is very complicated: there are whole set of different rules to create international transactions in full compliance. This makes creating accurate and in-time reports a very complicated matter.

Transaction Extract Reports API helps you to parse e-commerce, POS and ERP data that went through ONESOURCE Calculation and ONESOURCE reports and analytics, into extractable reports for compliance reporting, tax filing, accounting,and financial processes, which can be used to make inferences for future business endeavors.

Key Benefits:

This Product Case can help you:

• pinpoint growth opportunities effectively
• address any incongruities inherent within their sales data
• access granular data, thereby facilitating profound insights and informed, data-centric decision-making

Extract Reports for Transaction Discrepancy Solving

Discover how to simplify report extracting for transactional purposes.

When you use Transaction Extracting Report, finding issues with transactions becomes an easy task!

Search, compare and contrast safely, find differences and similarities in transactions in an efficient and safe way, get analytics for sales teams, and more!

Scenario: Filing financial statements as a company and requiring to extract reports.

1. 1Atlas, an international trading company, has detected discrepancies within their quarterly financial statements. To resolve this issue, they must perform an audit on specific transactions involving a few partner companies. 
2. 2Atlas, as a company, comes across the Transaction Extract Reporting API, and considers trying it, in hopes of leveraging its capabilities to provide a comprehensive solution.
3. 3By utilizing the metadata endpoint, they retrieve a list of pertinent companies, countries, taxable states, provinces, authorities, and other essential filter criteria necessary for obtaining authorized audited transactions.
4. 4The Atlas financial team was successful in using the Extract endpoint to retrieve transaction data associated with the chosen partner companies.
5. 5Finally, the team thoroughly examines the detailed transaction records, conducting a meticulous comparison with their own internal records, being able to identify the exact source of the discrepancy.