CCH iXBRL Review & Tag

From April 2011, company accounts must be filed online in iXBRL format. If your clients prepare their own accounts using Microsoft Word or Excel, you’ll have to find some way of submitting these in iXBRL format when you file their tax return.

CCH iXBRL Review & Tag adds tags to accounts supplied by third parties. This avoids the need to re-type client data into your own accounts production system.

• Simple to use – iXBRL tags are automatically applied to figures presented in columns. Other tags can be added manually, and all tags can be reviewed and changed, simply by dragging a tag from the hierarchical list of tags and dropping it onto the appropriate paragraph, word, number or date. The software requires very little training, so you can be up and running almost immediately.
• Comprehensive – Supports all published taxonomies, including UK GAAP (automatic and manual tagging) and IFRS (manual tagging, with automatic tagging available Q4 2011). You can also load sector-specific taxonomies and extensions, for example for banking, insurance and charities. The software displays either the full list of tags or HMRC’s ‘minimum tagging list’, designed to simplify tagging during the transition period.
• Reliable – The Verify iXBRL function checks the technical validity of tags and how they’ve been applied to reduce the possibility of filing errors. The Exception pane lists key tags that are missing or incorrect.
• Keep existing procedures – Clients can carry on providing accounts in Microsoft Word or Excel, using the internal systems they’re already familiar with.
• Flexible – Produces a standard iXBRL accounts file that can be filed online using CCH Corporation Tax or third-party software, including HMRC’s own free system, so you’re not tied to a particular supplier.
• Secure – No need to send client accounts data to a third party for processing.

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