SAG Infotech presents a marvelous gift for professionals like Company Secretaries
& Chartered Accountants who are compelled to waste large amount of time on preparation
& e –filling of balance sheet, profit & loss A/c in latest XBRL format. Now in just
four simple steps all your scrapes related to XBRL can sort out.
Gen XBRL Software
- SAG InfoTech’s XBRL is a boon for professionals dealing with preparation & e –filling
of balance sheet, profit & loss A/c in XBRL format as per taxonomy & validation
tool of MCA “In just simple 4 steps.
The steps including the conversion in simplified four steps are as follows:
- Step 1: Feeding the whole financial data with all relevant Notes
and Disclosures in Gen-XBRL utility, available for download with Latest Revised
- Step 2: Converting the XBRL data from our utility into XML file
format by our two Products “Gen-Comp Law” & "Gen-XBRL" Software tool with professional(s)
- Step 3: Validating the data through MCA tool.
- Step 4: An Instance document containing Balance Sheet and Statement
of Profit and Loss Account will be generated and ready for e-filing.
- "A unique solution for e-filing that helps in creating XBRL sheets, Validating and
beyond..." XBRL is a data-rich dialect of XML (Extensible Markup Language), the
universally preferred language for transmitting information via the Internet. It
was developed specifically to communicate information between businesses and other
users of financial information, such as analysts, investors and regulators. XBRL
provides a common, electronic format for business reporting. It does not change
what is being reported. It only changes how it is reported. XBRL is a world-wide
standard, developed by an international, non-profit-making consortium, XBRL International
Inc. (XII). XII is made up of many hundred members, including government agencies,
accounting firms, software companies, large and small corporations, academics and
business reporting experts. XII has agreed the basic specifications which define
how XBRL works.
- XBRL in MCA:- It has been decided by the Ministry of Corporate
Affairs, India to mandate certain class of companies to file Balance Sheets and
Satement of Profit and Loss W.E.F from F.Y. 2010-11 onwards by using XBRL Taxonomy.
The following classes of companies have to file the Financial Statements in XBRL
e-forms only W.E.F. the F.Y. 2010-2011:
- All companies listed in India and their subsidiaries, including overseas subsidiaries.
- All companies having a paid up capital of Rs. 5 Crore and above or a Turnover of
Rs 100 crore or above.
- Outsourcing to SAG InfoTech for Creation and validation of XBRL document by our
Expert team of Professionals:
- SAG Infotech developed a complete XBRL Conversion Software that has surpassed all
the gaps between professionals & software.
- Our software is having expertise in validating XBRL data into instance document
for Balance Sheet & Statement of Profit and Loss using Taxonomy and Business Rules
for Commercial and Industrial (C&I) entities that saves your time & laborious hardship.
- A dedicated & hardworking team of professionals (CA/CS) working since MCA launched
XBRL filing to generate XBRL document accurately and within time span.
- No need to spend money and time for training of our software.
- The Author of this article provides information about XBRL and tool developed by
SAG InfoTech for filling through XBRL software.