This event was very useful. As a provider of iXBRL services, we had the opportunity to directly interact with partners of accounting firms and CFOs. It also gave us an insight to the various other solutions available for iXBRL.
I think iXBRL is something we cannot avoid, be it for companies or accounting firms at large. Although most companies will use their accountants to convert their accounts to the iXBRL format, a fair number would want to file directly either tagging accounts themselves or using an iXBRL managed tagging service provider. (I picked up a HMRC note that revealed that 64% of companies will use accountants to file their corporate tax returns and 36% will file directly).
Think John has missed a mention about DataTracks. We have been providing iXBRL managed tagging services for a while now. We offer a simple as easy to use pay-as-you-go online service. Do visit our website (www.datatracks.co.uk) for more information.
Rightly said, managed tagging services is not about being a last minute solution. Businesses will need to book capacity as early as they can to ensure that their work is done. We have already seen a significant increase in the number of booking we have had for iXBRL managed tagging services. I expect this number to increase even further as we move into November and December.
Yes you can send an iXBRL file to Companies House. At the moment it is only voluntary.
A number of clients have been approaching us with iXBRL conversion for Companies House. You can visit our website www.datatracks.co.uk for more information and try our pay-as-you go website service to convert your files to the iXBRL format.
This is something that I picked up from XBRL.org. Quite useful. Most companies in the US have already benefited by the use of XBRL technology.
XBRL can be applied to a very wide range of business and financial data. Among other things, it can handle:
1. Company internal and external financial reporting. 2. Business reporting to all types of regulators, including tax and financial authorities, central banks and governments. 3. Filing of loan reports and applications; credit risk assessments. 4. Exchange of information between government departments or between other institutions, such as central banks. 5. Authoritative accounting literature - providing a standard way of describing accounting documents provided by authoritative bodies. 6. A wide range of other financial and statistical data which needs to be stored, exchanged and analysed.
Looks like a good event especially for small businesses looking to invest in software for iXBRL tagging.
If you looking to outsource iXBRL, you could choose our pay-as-you-go website service online. Simply sign up, add entities, place an order and upload files.
iXBRL managed tagging services You could always outsource your iXBRL work to DataTracks www.datatracks.co.uk. We can handle files in multiple formats of word, excel and pdf. DataTracks will help you convert your financial statements and tax computations to the iXBRL format. You can use the pay-as-you-go iXBRL website service if have an limited number of files.
My answers
iXBRL providers
This event was very useful. As a provider of iXBRL services, we had the opportunity to directly interact with partners of accounting firms and CFOs. It also gave us an insight to the various other solutions available for iXBRL.
-www.datatracks.co.uk
iXBRL managed tagging services
I think iXBRL is something we cannot avoid, be it for companies or accounting firms at large. Although most companies will use their accountants to convert their accounts to the iXBRL format, a fair number would want to file directly either tagging accounts themselves or using an iXBRL managed tagging service provider. (I picked up a HMRC note that revealed that 64% of companies will use accountants to file their corporate tax returns and 36% will file directly).
Think John has missed a mention about DataTracks. We have been providing iXBRL managed tagging services for a while now. We offer a simple as easy to use pay-as-you-go online service. Do visit our website (www.datatracks.co.uk) for more information.
Not a last minute solution
Hi John,
Rightly said, managed tagging services is not about being a last minute solution. Businesses will need to book capacity as early as they can to ensure that their work is done. We have already seen a significant increase in the number of booking we have had for iXBRL managed tagging services. I expect this number to increase even further as we move into November and December.
www.datatracks.co.uk
iXBRL for Companies House
Yes you can send an iXBRL file to Companies House. At the moment it is only voluntary.
A number of clients have been approaching us with iXBRL conversion for Companies House. You can visit our website www.datatracks.co.uk for more information and try our pay-as-you go website service to convert your files to the iXBRL format.
XBRL technology
This is something that I picked up from XBRL.org. Quite useful. Most companies in the US have already benefited by the use of XBRL technology.
XBRL can be applied to a very wide range of business and financial data. Among other things, it can handle:
1. Company internal and external financial reporting.
2. Business reporting to all types of regulators, including tax and financial authorities, central banks and governments.
3. Filing of loan reports and applications; credit risk assessments.
4. Exchange of information between government departments or between other institutions, such as central banks.
5. Authoritative accounting literature - providing a standard way of describing accounting documents provided by authoritative bodies.
6. A wide range of other financial and statistical data which needs to be stored, exchanged and analysed.
www.datatracks.co.uk
iXBRL managed tagging
Looks like a good event especially for small businesses looking to invest in software for iXBRL tagging.
If you looking to outsource iXBRL, you could choose our pay-as-you-go website service online. Simply sign up, add entities, place an order and upload files.
Do have a look at our website www.datatracks.co.uk for more information.
iXBRL tagging
This is very useful especially to help you plan for iXBRL.
As part of your planning process if you are looking at an outsourced iXBRL solution, you could consider using our iXBRL pay-as-you-go solution.
Visit www.datatracks.co.uk for more information.
iXBRL decisions
The choice by the HMRC to go ahead with the soft landing period makes sense, but the onus will be on companies to be fully prepared.
Companies/Accounting firms will have to make the right decision on iXBRL software/providers who can help in the iXBRL conversion process.
If you are looking to outsource your iXBRL process, you could consider using our pay-as-you-go web based service at www.datatracks.co.uk
You could always outsource your work.
At DataTracks, we offer a pay-as-you-go web based service to convert your financial statements and tax computations to the iXBRL format.
Do visit www.datatracks.co.uk for more information.
iXBRL managed tagging services
You could always outsource your iXBRL work to DataTracks www.datatracks.co.uk. We can handle files in multiple formats of word, excel and pdf. DataTracks will help you convert your financial statements and tax computations to the iXBRL format. You can use the pay-as-you-go iXBRL website service if have an limited number of files.