iXBRL – how is it for you?

iXBRL – how is it for you?

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We’ve just installed our accounts software update for iXBRL. I’m interested in how others have got on with converting a set of accounts into iXBRL. I’m only interested in the process of converting finalised accounts into iXBRL for attaching to your CT software. Could you let me know:
  1. What software you are using for accounts production?
  2. What software you are using for the tagging process?
  3. How many hours did it take to get familiar with the tagging software?
  4. How long does it take an experienced user to convert final accounts into iXBRL?
  5. What do you like about your tagging software?
  6. What do you dislike about your tagging software?
I’m using Viztopia for accounts production, and CCH iXBRL Review and Tag for production of the iXBRL file. I’ve only just installed the update and am still reading through the instructions, so can’t say how much time it takes to learn or produce the iXBRL accounts. At this stage I dislike having a seperate product for iXBRL production.

Replies (29)

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By Steve Holloway
28th Feb 2011 16:45

VT Software ...

You prepare the accounts as normal. You press a button that says 'generate iXBRL file' and it produces the tagged file. I use PTP for tax purposes and once you have completed the CT600 as normal you atttach the iXRBL file. Thats it. Unless I am missing something this seems quite a lot of fuss (and a lot of work for software companies) but not much of a hassle for us in reality. The only negative as far as VT was concerned was that you have to start a new accounts workbook to get the iXBRL functionality although this takes about 15 minutes to copy the old data across and get the notes correct etc

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Teignmouth
By Paul Scholes
28th Feb 2011 17:23

Iris

Hi - I use Iris for the lot.

The process is well thought out and intuitive and, when in Accounts Production, I produce the ixbrl accounts on screen and they appear with each automatically tagged item (numbers or text) in one highlight colour and indicate other numbers & text you may wish to tag, in another colour.  You click on these and from a drop down menu at the side you see the full taxonomy tree and you either head for the section you want (eg Notes to the accounts- debtors) or search for the phrase (eg "Related parties").

Items on the MTL are in bold and you click the one that best suits.  If there's a figure for last year it asks if you want to tag that in the same way.

For more complex notes you can either tag from this report screen or go back to the note data screen in Iris where they have also incorporated the tagging screen.  This is particularly useful when picking out text, numbers and years within a paragraph.

Once happy you tell it to produce the ixbrl file and then, clicking into Business tax the file is automatically attached to the tax return for you.

Being one who feels that software should be idiot proof I jumped in with both feet a few weeks back, with only a cursory glance at the help screens and guidance, and ended up spending probably 3 hours and calling iris help desks 3 times before I had it all done.  All credit to them, I should have spent 30 mins going through the helpscreens & guidance!

The next set took me 25 mins start to finish.  The third set I'd deliberately left because the company had some tricky provision notes and was partly not-for-profit, I also played about and tagged some things I didn't need to just to get a feel for the structure of the Taxonomy.  This took perhaps 45 minutes and went through without a hitch.

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By 1796971
01st Mar 2011 09:26

but what about Companies House?

finally got to grips with the HMRC filing, but also trying to submit the abbreviated accounts to Companies House by XBRL with no luck.

Going through the same process in converting the accounts, but Companies Hosue comes up with an 'invalid file type' error when trying to attach the file.

Anyone got any ideas?

 

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By wrowe
01st Mar 2011 10:38

CCH Software

Hi Kevin

To clarify, our accounts production software; VAP produces fully tagged iXBRL accounts based on the standard formats, this is done on a press of a single button.

Within our accounts production software we have integrated the Review & Tag interface allowing you to review and amend the tags if required. This is presented when you select the option to produce iXBRL accounts, just to clarify you do not have to load Review & Tag as a separate product nor do you have to manually tag your accounts. The beauty about having the integrated Review & Tag product in VAP, is that  for those practices that have the need to convert Word and Excel accounts they can do this using the same interface.

If you need further help please do not hesitate to contact me; [email protected]

Wendy Rowe

Head of Product Management, CCH Software

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Me!
By nigelburge
01st Mar 2011 11:52

Another thumbs up for VT

I submitted my first CT600 using the software provided by HMRC and attaching the iXBRL file prepared by VT.

VT have done a nice job - it was a simple matter to prepare the iXBRL file and their facility to set up a new file by simply copying the info from the old one now works very well.

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By imbs
03rd Mar 2011 11:58

Sage?

Is anyone still using sage?  or are they coming up short?

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By pauljenkinsandco
03rd Mar 2011 12:46

Having problems with Forbes/VT software

 I have made two attempts to submit using Forbes Tax Software and VT accounts.

Both have failed. I have send the error messages to David forbes - one last Friday and one on Monday, and I am awaiting a reply from David.

I may well have done something wrong myself - but it would be nice to get it sorted out soon as I'd liek to get this iXbrl thing cracked.. 

 

 

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By sharon_phillips
03rd Mar 2011 13:06

Forbes and VT

I have now successfully submitted two sets of xbrl accounts using Forbes and VT, although I did have teething problems.  David Forbes did however reply very promptly to my queries - which resulted in updated versions of the software.  Perhaps you need to download the lastest version?  Still having problems with the pools/capital allowances on Forbes though, which seem to continuously disappear, which is very frustrating!

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Replying to weaversmiths:
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By 7764jc
12th Feb 2014 09:40

Forbes & VT

Sharon

I've used VT accounts software for years, and I think its great.

I've also used Drummohr tax software for years, but they are getting expensive (Been taken over by Iris/PTP).

I'm now thinking of going over to Forbes tax software.

Any comments or advice?

(I run a small practice over 150 clients)

Jeremy Corke

12 Feb 2014

[email protected]

 

 

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By vtsoftware
03rd Mar 2011 13:50

Tax packages

There have been some (mainly minor) issues submitting third party iXBRL accounts files with CT600 software. For a list see http://www.vtsoftware.co.uk/support/ixbrltaxpackages.htm

Philip Hodgson
VT Software

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By DMGbus
03rd Mar 2011 13:53

Sage - useless

Sage CT software in itself is bad enough - horribly complicated to use (probably because designed by a "Top 4" accountancy practice to cover everything including multi-nationals and plcs - and therefore OTT for "normal" useage).

Sage Accounts Production is also another software package  from Sage that's most certainly NOT user-friendly.

Common factor with the above is over-complicated / hidden secret illogicality processes / interface to use it  appears to be just about OK if you use the packages every single day as an individual - you get to learn the horrible hidden-secret / lack-of-logic processes / learn the unituitive interface processes for successfully using the software.  For others who have the misfortune to use it once or twice a month it's an absolute nightmare having to remember how to go about things in a seemingly stupid way.

The latest we hear is that "by 30th June" (2011, I think) we'll have a functioning iXBRL set up.

WE DO NOT BELIEVE THIS WILL BE THE CASE.

WE HAVE NO CONFIDENCE IN SAGE AND IXBRL.

Therefore, the practice I work in  as a matter of policy are aiming to get all CT comps, where possible, submitted in paper form before the end of this month - even for clients whose normal CT deadline is later than 31 March 2011.

Some of us are trialling alternative software, and with a bit of luck we can start moving away from SAGE software and starting getting away from ongoing problems ["SAGE PRACTICE DESTRUCTION" (SPS) being a traumatic one of them in recent years].

The day that SAGE starts producing user-friendly intuitive easy to use software at a fair price and on time is the day that confidence in SAGE might start being restored.  Today is NOT that day, maybe such a day will never occur.

 

 

 

 

 

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By steveporter
04th Mar 2011 09:36

Usability improvements to our iXBRL software...

Thanks for your feedback. Usability is something that is key to our ongoing software development, and we have a one-click iXBRL output from Sage Accounts Production (SAP) and Sage Accounts Production Advanced (SAPA) software that will be delivered in March.

Customers visiting the iXBRL roadshows that we are currently running (www.xbrlwithsage.com/events) have been delighted with the simplicity of the solution. We’d love to demo it to you at your earliest convenience.

Please email us at [email protected] and we can arrange.

Nick Goode, Head of Commercial Marketing

 

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AS
By AS
04th Mar 2011 09:54

Caseware and AlphaTax

We use Caseware which has a very simple process to automatically tagging the accounts. Complex notes like some related party notes may need to be reworded in order to make them easier to tax.

For corporation tax computations we use AlphaTax which is excellent - very powerful and easy to use.

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By pauljenkinsandco
04th Mar 2011 12:55

Forbes and VT

In all fairness to Forbes and VT :

Phillip Hodgkinson phoned me yesterday and offered to check my problem out in case it was a VT Problem - it wasn't.

David forbes emailed me today telling me what it was and how to correct it and warning me of another small glitch which they will sort out on Monday. 

You don't get that level of service from the likes of SAGE, I'll wager!

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By Hewson
07th Mar 2011 18:44

VAP & PTP

Using Viztopia for accounts production and PTP for CT600 and cannot so far get them to happily to talk together.  Nasty messages from PTP not recognising company name tag and date formats;  so far unresolved!  Anyone got any further with these two software combinations?

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By pauljenkinsandco
07th Mar 2011 21:35

VT and HMRC software

 That's interesting _ I didn't know you could attach a VT file to the HMRC software.  

 

 

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Me!
By nigelburge
08th Mar 2011 10:00

HMRC's software works rather well with VT

It avoids having to input in accounts into the HMRC pdf which is a royal pain in the b*tt. You just attach the VT xml file.

The rest of it is pretty plain sailing and fairly quick.

AND, strangely enough for HMRC, it actually works!!!!!!!!!!!!!!!!!!!!!!!

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By vtsoftware
08th Mar 2011 10:11

HMRC and VT Software

We will soon start work on including an iXBRL Corporation Tax computation in the VT workbooks. You should then also be able to attach the comp to the HMRC filing tool, leaving virtually nothing else left to enter.

Philip Hodgson
VT Software

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Morph
By kevinringer
08th Mar 2011 14:03

VAP & PTP

Hewson, I use these too and have just successfully filed our first iXBRL. Regarding the two issues you raise:

1. Name - you have to get PTP to match VAP - exactly. That means PTP has to be in upper case. PTP have told me that this was a HMRC requirement - but HMRC have now relaxed the requirement. PTP will be amending their software in next month's release.

2. Date - VAP is putting in an incorrect date. You can manually correct the date in CCH iXBRL Review & Tag - open Other Data (Actions pane on the left), tick Show All Tags, the End Date For Period Covered By Report is incorrect - click on the date and enter the correct date.

PTP will now allow you to attach the HTML file to the CT Return. But that might not be the last of your problems. I've just spoken to CCH about the fix that was due out Monday morning. There will be fixes for both Viztopia 7.40 and CCH iXBRL Review & Tag. These will be released within the next few days. They will correct the dating problem and a number of other issues - but not everything. CCH are working on a special support page on the website for iXBRL errors.

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By Hewson
08th Mar 2011 17:23

VAP & PTP

Kevinringer

Great, thanks for the couple of tips - I had otherwise amended name format issue in VAP but your solution to amend PTP makes it look better.

At least I can now send the CT600 for signing - let's see if there are further issues when submitting to HMRC!

Thanks again.

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By sharon_phillips
09th Mar 2011 14:54

Forbes problem solved!

Following on from my earlier comment regarding the pools/capital allowances on Forbes which kept disappearing, for anyone else who has experienced this, the problem has now been rectified by the latest download - again, excellent customer service from Dave Forbes.

I believe the problem arose due to not using their accounts software, but no intention of switching from the also excellent VT!

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By Antony Rose
10th Mar 2011 11:49

Viztopia and Cortax - Computer says no

We currently have a competition in the office to see how many pages of "hypercube" errors can be generated by the HMRC error report. The record is 9 A4 pages.

So far, out of 6 clients and in spite of passing validation tests in the software, we have only been able to submit one return and that was after hours on the phone and spent sending files backwards and forwards to support.

 

This has meant that we are looking at other alternatives but Digita (which looks very nice) seem to have a "buy before you try" policy which doesn't inspire confidence either....

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By daveforbes
10th Mar 2011 12:21

Hypercubes

We have a viztopia import facility. You could import, check and file and then see if you get less hypercube errors.

Or get  some 4 dimensional paper - the printout will be smaller.

David Forbes

www.forbes.co.uk

 

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By imbs
16th Mar 2011 13:17

thinking of moving it all over to Iris

i was at a seminar held by Iris yesterday and was very impressed by what they had to say.  We currently use sage for accounts production and drummohr for tax.  Sage have been very quiet about ixbrl.  Does anyone out there use Iris accounts production and tax?  Would you recommend it?

thanks

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By DMGbus
12th Apr 2011 20:42

Sage Accounts Prodction & iXBRL

I know of a case where someone(*) has spent about 2 or 3 days trying to get iXBRL filing to work from Sage Accounts Production. It seems that to date, after 2 or 3 days of aggro the remaining problem is that the iXBRL accounts are still not upto standard, suppose it's a further week of speaking to the Sage helpline who are very supportive, yet still no satisfactory outcome despite the extensive time and effort invested (wasted?).

(*) Someone who has extensive experience of Sage accounts formatting and all that similar aggro.

Not heard of similar problems with VT Accounts and other software providors - is it just Sage who are supplying an unpolished product?

The above refers to pretty standard small limited company accounts - the nightmare of Sage iXBRL when more specialist accounts like Clubs and Ltd Companies operated by Charities is something yet to be experienced.

The above experience reinforces my view that we should use either VT Accounts or HMRC's own software product until the "false-promise" of Sage Accounts Producing "easy" "push one button" iXBRL accounts in satisfactory form is achievable.

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Morph
By kevinringer
01st May 2011 15:22

CCH's Viztopia Accounts Production & PTP's CTPlatform

The first month of compulsory iXBRL has now passed so time to report on how it went.

CCH’s first iXBRL-enabled Viztopia didn’t work. So a service pack was released – which was subsequently withdrawn. The second service pack was only released in the final days of March – but our AV software wouldn’t let us download it (not CCH’s fault) so it wasn’t until a week into April we could install it – and what a messy fix (each PC required the service pack to Viztopia and an update to CCH iXBRL Review and Tag, and a script needed to be run on the data itself – and if you have any standalone PCs running Vista then take some valium first). And installing the software was only the beginning of our problems. CCH’s helpdesk has been great and have managed to identify all the problems – but they’re inundated with callers and often difficult to get hold of.

Re the CT Returns, I’ve been using PTP for years, of which the last 5 have been using FBI for CT. The switch from PDF to iXBRL has been seamless - iXBRL works just as effortlessly. My only niggle is PTP’s FBI process and interface needs tidying up.

So the verdict – CCH thumbs down, PTP thumbs up.

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By aallan
30th Nov 2011 14:48

iXBRL tagging software

Joining this thread a little late, but interested in any help that posters can give.

Looking for a reliable way of converting accounts in Word file to tagged iXBRL format suitable for submission to HMRC.

Range of products and prices is bewildering.  Are the cheaper products reliable?

Have quotes from Alphatag, Sage, Arkk, Iris/Ptp, Forbes.

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By Jayaprakash.M
08th Jan 2013 09:56

I actually do not use iXBRL tagging software. I use iXBRL conversion service. I find this most convenient as I just provide my files for iXBRL conversion and then receive the outputs ready for HMRC filing.

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By DMGbus
24th Mar 2013 23:21

Sage Assisted Tagging - update

The original Sage iXBRL tagging was an incomplete solution.

Sage have by now (March 2013) produced their "Sage Assisted Tagging" product to address non-compliance as of 1st April 2013 that would have been the case with the 2011-introduced version..

Note that this current Sage product is very accurately described as being "Assisted" - ie. it appears NOT to be a fully competent product yet - it lacks the capability to tag certain necessary data from Sage Accounts Production - so manually review and an element of manual tagging is called for - havng sat through a 40 minute Sage webinar and then watched about five Sage iXBRL You Tube videos I can see that we have another Sage horror story on our hands - lots of costly (time, complexity and boredom) user intervention required - most certainly not a "one button does it all" solution like we'd prefer and would have hoped for.   Those who sat through the webinar wth myself were most certainly NOT impressed with this latest Sage offerring...about time we chose VT accounts or some other alternative to Sage.

Shortcomings so far identified - some accounting polices and related party notes - these need user intervention and manual tagging.

 

 

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