ParsePort XBRL Converter
The challenge of converting from e.g. Excel to XBRL is not the "XBRL programing language", but rather to identify where the individual accounting statements are found in the document. Several have tried with software solutions that scan the document and "guess" the placement of the different figures, but we, along with several international XBRL associations find that the probability for errors to occur are too great with scanning software. This is also why our customers find our solution to be very reliable and easy to implement. We use small "tags" which are inserted once and for all in the document. These “tags” helps our XBRL-software to identity all the necessary sections in the document, and you will quickly learn and become confident in "tagging" your accounts.
How XBRL Converter works
With our XBRL Converter solution you can easily and quickly convert your existing Lotus, Excel and / or Word documents to XBRL files in our ParsePort online portal. It’s simple, easy and doesn’t affect your existing workflows.
ParsePort of course supports your text part and your notes - and your records can contain as many sheets, formulas, cross-references, logos and fonts as it may.
The way it works is simple. The essence of converting data from Excel, Word, etc. to XBRL is to define where the various elements of the financial statements is located. In other words, all XBRL conversions relies on defining the location of e.g. the management report, the balance sheet, the notes, etc.. With our XBRL converter it’s simply done with what we call start and end "tags". These tags are inserted once and for all in the financial statement and help our machine to identify all the different sections in the annual report.
Once you've tagged your accounts it must be uploaded to our portal and you’ll immediately get a presentation of the financial statements in a readable XBRL form and when you press "Confirm", you get an XBRL file in return - ready for submitting.
You don’t need to download or update any plug-ins or programs.
- CRD IV Reporting
- Data Aggregation/Publishing
- Filing Preparation
- Instance Document Creation
- Instance Document Validation
- Instance Document Viewing
- XBRL Collaboration Tools
- XBRL Processors/Software Libraries
ParsePort is one of the leading vendors of XBRL solutions in the Nordics. All kind of companies uses our solutions, whether it is a small local accountant or a large international corporation.
We have XBRL solutions for common reporting (COREP), financial reporting (FINREP), international financial reporting standards (IFRS), generally accepted accounting principles (GAAP), Annual reports and Solvency II.
Our solutions are used across Europe, and we provide everything from a simple XBRL Service, where we handle the conversion process from start to end, to “do it yourself” solutions where the conversion process is done by users themselves.