Abstract: Embodiments of the invention provide a sales and use tax analysis and reconciling system that includes an item and ontology restriction interface, an item and ontology restriction engine, a sales and use tax application program interface, a sales and use tax engine, a sales and use tax accounting engine, and an item and ontology restriction engine. The item and ontology restriction interface can receive point of sale transaction data and process a transaction message, and the item and ontology restriction engine can transmit the transaction message to an item and ontology restriction analysis engine for analysis. The sales and use tax application program can transmit totaled transaction data. From this data, a sales and use tax engine can create fund split and electronic fund transfer instructions for an acquirer gateway, and the sales and use tax can be reconciled and sent to a funding source.