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.
· 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
XBRL helps you to create XBRL Sheet and validating and much more. It helps you to set you business within very few days. It solves all the financial problems of a business and SAG Infotech Gen XBRL Software is here to make understand you, download free demo now.
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ReplyDeleteThis is a helpful article on XBRL filing software in Mumbai, especially for those unfamiliar with the process. It clearly explains the benefits of XBRL for financial reporting and highlights the challenges of choosing the right software.
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