Introduction
TaxBit has expanded our Reports page and added a new set of canned reports that are designed to facilitate efficient data processing and reconciliation. These enhancements aim to streamline your workflow leading to and during the tax season, ensuring accuracy and consistency in your data management.
Note: Reports are generated nightly and made available within the Reports section of the TaxBit Dashboard
Accessing the Reports Page
1. Login to TaxBit: Enter your credentials to log in to the TaxBit Dashboard.
2. Navigate to the ‘Reports’ Tab: This can be found in the main dashboard menu.
Reports Available
1. Reconciliation Counts Report:
- Designed to display key aggregated data points enabling effective identification of discrepancies between the source and the data successfully ingested into TaxBit. Providing a comprehensive overview to ensure alignment and accuracy between your records and TaxBit, or providing a place to kickoff investigation.
2. Account IDs Report:
- Designed to enumerate all Account IDs successfully ingested into TaxBit. This report becomes particularly useful for conducting in-depth reconciliation analysis, especially when the Reconciliation Report indicates a potential discrepancy. Providing a detailed list of IDs, facilitating a thorough review and verification process.
3. Transaction IDs Report:
- Designed to enumerate all Transaction IDs successfully ingested into TaxBit, for similar purposes to the Account IDs Report.
4. Negative Asset Balance Report:
- Identify instances where an account's inventory balance has become negative. In line with ensuring successful data ingestion and effective reconciliation, to make it easier to pinpoint accounts exhibiting negative inventory balances.
5. TIN Verification Report:
- Provides a breakdown of all Accounts and their TIN Statuses.
6. Tax Documentation Status Report:
- Provides a breakdown of all account’s Tax Documentation Status. Better allowing for review and progress tracking towards complete account documentation.
FAQs
Q: What is the purpose of Canned Reports?
- To provide users of the TaxBit Dashboard with a comprehensive overview of data stored within the system, facilitating gap identification, status viewing across accounts, analysis, and record-keeping.
Q: Who can benefit from Canned Reports?
- Tax Operations Managers and our clients looking to reconcile transaction and account data, export IDs for further analysis, check form statuses, validate account information, and identify negative asset balances.
Q: What types of Canned Reports are available?
- Reports available include Reconciliation Reports, Export of IDs, and Negative Asset Balance Reports, among others.
Q: How are Canned Reports accessed?
- Reports are made available daily within the Reports section of the TaxBit Dashboard.
Q: Can Canned Reports be customized?
- If there is a need for customized reports, please contact your TaxBit representative and we can discuss options.