These days XBRL term
is quite common among company securities and chartered accountants. XBRL stands
extensible business reporting language which is XML based computer language for
the electronic transmission of business and financial data. Many countries in
the world and regulators have mandated use of XBRL Filing Tools.
Many of us have seen
advertisement on websites, business news, magazines, emails etc. and we can see
number of XBRL Filing Software provider available in
market. If you are new then selecting a best option from available ones is
always a critical question either you are professional or student.
Why XBRL?
As we know,
collection and distribution of financial/business information is necessary for
the following.
·
Forecasting future cash flows
·
Evaluation of business
prospects
·
Evaluation of efficiency of
management team
·
Comparison
·
Decision-making
Today, you will find few
words on XBRL filing software which I am using and satisfy with its features
and support.
eXBace.com – An error
free, accurate, handy software for those who actually can’t afford error while
exchanging of business information as per MCA. This is an intelligent solution
that enables automated processing of business information and hence cut out
laborious and costly processes of manual re-entry and comparison. Improve the
overall quality and accuracy of data obtained from companies, reduce potential
errors from manual entry through machine transfers of reporting information
some are basic advantage of this software.
This
software has made my XBRL filing simple with new commercial and industrial
taxonomy. Some of the advance features are below:
·
No need to be
XBRL Expert - No Training Required
·
Excel import with
synchronization facility with software
·
Error locator to navigate
to the erroneous location
·
DIN & CIN
verification from MCA site
·
User right
management facility
·
E-mail facility
Instance document (XBRL) import
·
Data viewer
·
Form 23AC &
23ACA
·
Export to
MS-Excel, MS Word & PDF format
·
Data tagging from
MS-Excel, MS Word & PDF
·
User friendly
interface to input latest year annual report information against XBRL tags
·
The 'On Document'
tagging feature allows the user to seamlessly tag facts and text blocks that
are scattered across the document.
·
Tagging of
Financial and Non-Financial data: eXBace is powered to create financial data
for Current Year and Previous Year with taxonomy in one go and Non-Financial
data i.e. Auditor’s Report, Directors Report etc. with ease.
·
Advanced validator
tool: eXBace ensures accuracy by using in-built validations at entry level to
prevent data entry errors.
·
Generation of
XBRL Instance Document: Generation of XBRL instance Document as per MCA
Taxonomy.
Other
Useful links:
Free
download only for the CA Firms holding FRN
XBRL
Software
MCA
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