Use Case

Sales Tax Reporting

 

Accurately calculating sales tax liability is rarely easy. Tax rules are hyper-local, and most companies use labor-intensive spreadsheet models to compute liability. Use analytics for a quick, deep view of all taxable transactions, then apply the correct tax rate for the locality and transaction type.

Efficiency Gains

Produce quality sales tax reports in a fraction of the time it used to take.

Top-Line Growth

Move beyond outdated industry tools and free up tax group resources for higher-value activities.

Bottom-Line Returns

Reduce the amount of time and money invested in sales tax reporting.

Business Problem

How does your company reconcile and verify the sales tax it pays? In theory, the process is simple: add up all taxable transactions and apply the sales tax rate for the locality. In practice, though, most companies end up crunching aggregated numbers in spreadsheets, applying an inadequate tool to a shallow view of transactions. Manual, time-consuming practices for reconciling tax payments can mean overpaying at best and incurring penalties after an audit at worst.

Alteryx Solution

An end-to-end analytics solution allows you to go beyond top-level figures and reconcile data from all taxable transactions, then effortlessly apply the correct tax rates per locality and transaction type. With custom tables and reports you can justify amounts paid. Configure alerts to apprise your tax group on any incorrectly taxed transaction the moment it hits the general ledger.

With Alteryx, you can:

  • Use the Office of Finance starter kit to connect to multiple data sources and import transaction data
  • Blend transaction data together with postal codes and sales tax rates
  • Aggregate the data streams to apply correct tax rates to transactions
  • Create custom tables to export tax rates per transaction or produce summary reports
 

Alteryx Office of Finance Starter Kit Demo

 

Additional Resources

 
 
Starter Kit for Office of Finance
Learn More
 
 
Starter Kit for Data Blending
Learn More
 
 
Starter Kit for Intelligence Suite
Learn More
 

Recommended Resources

 
E-Book
Data Innovators in Higher Education
See how these seven institutions are addressing key challenges in higher education with smarter insights.
  • Analytics Automation
  • Finance
  • Efficiency Gains
Read Now
 
E-Book
Are you really in control of your manual processes? Gain control with data and analytics automation
Alteryx and PwC are excited to bring you an automated solution that identifies and assess risk profile of processes dependent on slow and costly End User Computing (EUC), coupled with Alteryx's AI powered Data Analytics automation platform to provide auditable, govern and consistent process execution. Our joint proposition is already helping customers deliver significant operating cost savings, increased resilience and enhanced control, with benefits realised within 3 months.
  • Finance
  • English
Read Now
 
Webinar
Self-service Analytics & Automation für Group Tax
Entdecken Sie das Potenzial von Self-Service-Analytics und Automation für die Group Tax. Erfahren Sie, wie Alteryx Ihnen ermöglicht, Steuerprozesse effizient zu optimieren.
  • Analytics Leader
  • Professional
  • Finance
Watch Now