ParsePort XBRL Service
With our XBRL Service solution we have made it very simple to report financial statements in XBRL to the relevant authorities. You do not have do anything other than to mail us the accounts - and we will convert them into digital XBRL files - ready for reporting to the relevant authorities.
With our XBRL Service you do not have to upgrade existing systems or invest in "do-it-yourself" solutions such as our own XBRL Converter in order to convert your financial statements to XBRL. With our XBRL Service solution you are enjoying all the benefits from our XBRL Converter tool - without having to devote precious time or get acquainted with XBRL taxonomies or "tags".
Our XBRL Service handles all types of accounts and accounting classes.
How XBRL Service works
Basically you just mail us an annual report in Excel, Word, Lotus, WordPerfect or PDF * to our XBRL Service, and we convert the accounts into an XBRL-file. Once we have converted the accounts you will receive an email with both the digital XBRL-file and an inspection report. Since the XBRL file is just a long stream of codes we always include an inspection report – which is a readable version of the XBRL file. It is an exact reproduction of the contents of the XBRL file to be reported to the authorities and it is also your guarantee that the content of the XBRL file is correct and true to the written accounts.
Once you have received the financial statement as an XBRL-file and reviewed the inspection report, you can log on to your local business authority website and upload the XBRL-file.
5 good reasons to choose XBRL Service
1. It's easy - And you do not need to modify current workflows.
2. Some type of accounts doesn’t "fit" into larger accounting software solutions like Caseware - XBRL Service can easily handle these.
3. You only have a handful of accounts - so it is not profitable to invest in a software solution.
4. No investment in software or other programs is needed.
5. It is cost effective - Payment is charged per report.
Who are XBRL Service relevant for?
- Companies that produces their own financial statements.
- Accountants who have few accounts that needs converting into XBRL
- Large audit companies who uses software solutions like for instance Caseware - but still have individual - accounts that do not "fit" into Caseware’s XBRL tool.
- Audit firms whose clients create their own financial statements and just need to have it signed and converted to XBRL.
- Accountants who prioritizes to spend their resources on other things than converting the annual reports to XBRL-format.
XBRL Service and safety
At ParsePort, we agree with several international XBRL organizations that scanning solutions and robots that tries to "read" or scan annual reports aren't secure enough. At ParsePort we exclusively have experienced staff to convert the annual reports to XBRL. Further, our XBRL engine that converts the data into XBRL is developed to validate and verify all input under the local business authority taxonomy requirements. This means you will never receive an XBRL-file from us which will not be approved for submission to your local business authorities. This is your guarantee that the accounts are controlled and in accordance with the applicable taxonomy.
When the XBRL file is returned, we also include an inspection report where you can read what the XBRL file contains and thereby ensure that the content is consistent with the written financial statements.
XBRL Service - in short
- We convert all types of accounts - regardless of type or class
- You do not have to familiarize yourself with new programs or invest in new software
- You will receive both an XBRL file and an inspection report of the converted financial statements
- Controls of XBRL financial statements are made against the requirements of your local taxonomy
- You do not have to worry about taxonomies, tagging or updated requirements
- The easiest way to report financial statements in XBRL to government authorities
Settlement is per converted account
The price for our XBRL service is fixed and paid per converted account. It is also possible to enter into a volume agreement that ensures an even lower cost and shorter delivery time. Please contact us for more information.
- CRD IV Reporting
- Data Aggregation/Publishing
- Filing in China
- Filing in France
- Filing in Germany
- Filing in India
- Filing in the US
- Filing in the UK
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.