UNIT4 opens online iXBRL service

Dutch-owned ERP software house UNIT4 has worked with iXBRL specialist CoreFiling to create a web-based tagging service for its customers.

The File4 website hosts a UNIT4-branded version of CoreFiling’s Seahorse application and was created to meet demand from UNIT4 users for an iXBRL tagging service. The online tool imports final accounts files prepared with Microsoft Word and applies “predictive” iXBRL tags from either UK GAAP or IFRS XBRL taxonomies.

Demand for the service came from companies across the full range of its customer base, including Agresso and CODA users, said UNIT4 group marketing manager David Turner.

CoreFiling managing director John Turner added that it was very common for corporate users to output trial balances from their accounting ledger systems and to apply the final tweaks and notes in a Microsoft Word file. “This applies for both large and small companies. There’s no obvious pattern or explanation, other than it’s not feasible for them to install a full accounts production system,” he said.

Because Seahorse is an online software as a service (SaaS) application, it was a simple matter to create a version for UNIT4, Turner added: “We’ve already done a similar thing with IRIS in the accountancy practice market and now we’re talking to ERP software suppliers.” Where the IRIS arrangement was exclusive, Turner expected to announce two or three more ERP deals in the next few weeks.