DataTracks India Launches XBRL Self-Service: A Web-Based Do-It-Yourself Solution for Preparing Financial Statements in XBRL Format
Poster: SySAdmin
Posted on July 30, 2012 at 7:00:01 AM
DataTracks India Launches XBRL Self-Service: A Web-Based Do-It-Yourself Solution for Preparing Financial Statements in XBRL Format
CHENNAI, July 30, 2012/PRNewswire/ --
DataTracks India (http://www.datatracks.in [http://www.datatracks.in ]) has launched a web
based do-it-yourself solution for preparing financial statements in XBRL format for filing
with MCA. This self-service facility will help accounting firms and companies to prepare
financial statements in XBRL format for filing with Ministry of Corporate Affairs (MCA),
Government of India. This self-service facility is aimed at users who need to convert
financial statements of simple to medium level complexity into XBRL format (DataTracks
offers a Template service for very simple financial statements and a fully outsourced
service for complex financial statements. Visit http://www.datatracks.in
[http://www.datatracks.in ] for details).
(Logo:
http://photos.prnewswire.com/prnh/20120730/IND10050354 )
The web based XBRL self-service facility is quite easy to use and is affordably priced
at Rs 500/- per financial statement.
All that the user has to do is to register at http://www.datatracks.in
[http://www.datatracks.in ] and download a very light software application into the PC.
This application works with the web based XBRL tagging engine to help the user prepare
XBRL statements based on inputs uploaded in Word format. When the XBRL statement is fully
ready, users pay for the service through the portal and download the XBRL files.
The XBRL tagging engine, which forms the core of the self-service offering, is
compliant with the taxonomy released by MCA. Users of self-service need to have a
reasonable level of familiarity with the MCA taxonomy. DataTracks can train users on MCA
taxonomy where required.
One of the main advantages of the self-service facility from DataTracks is that users
need not update their software application when changes to taxonomy are announced by MCA.
DataTracks updates such changes in their tagging engine through their change management
process. Users are therefore assured of the most up-to-date solution equipped to handle
their XBRL compliance requirements.
The self-service facility is an important addition to DataTracks' existing set of
offerings on XBRL. DataTracks offers (a) XBRL template, useful for companies with simple
financial statements and (b) a Full Service, where users send financial statements and
DataTracks takes care of preparing XBRL instance documents. These services are aimed at
companies whose financial statements need to conform to specific disclosures that are not
typically applicable to all companies.
About DataTracks India:
DataTracks India is part of DataTracks Global, leaders worldwide in preparation of
financial statements in XBRL and iXBRL formats for filing with regulators. DataTracks
Global prepares more than 10,000 statements a year in XBRL format for regulatory filings
with SEC in United States, HMRC in the United Kingdom and MCA in India. DataTracks Global
is a unit of TaurusQuest (http://www.taurusquest.com [http://www.taurusquest.com ]).
Website: http://www.datatracks.in [http://www.datatracks.in ]
Primary Media Contact: T R Santhanakrishnan, trs@datatracks.in, 91-44-42316368
Photo:
http://photos.prnewswire.com/prnh/20120730/IND10050354
Source: TaurusQuest Services India Pvt Ltd
PRN
CHENNAI, July 30, 2012/PRNewswire/ --
DataTracks India (http://www.datatracks.in [http://www.datatracks.in ]) has launched a web
based do-it-yourself solution for preparing financial statements in XBRL format for filing
with MCA. This self-service facility will help accounting firms and companies to prepare
financial statements in XBRL format for filing with Ministry of Corporate Affairs (MCA),
Government of India. This self-service facility is aimed at users who need to convert
financial statements of simple to medium level complexity into XBRL format (DataTracks
offers a Template service for very simple financial statements and a fully outsourced
service for complex financial statements. Visit http://www.datatracks.in
[http://www.datatracks.in ] for details).
(Logo:
http://photos.prnewswire.com/prnh/20120730/IND10050354 )
The web based XBRL self-service facility is quite easy to use and is affordably priced
at Rs 500/- per financial statement.
All that the user has to do is to register at http://www.datatracks.in
[http://www.datatracks.in ] and download a very light software application into the PC.
This application works with the web based XBRL tagging engine to help the user prepare
XBRL statements based on inputs uploaded in Word format. When the XBRL statement is fully
ready, users pay for the service through the portal and download the XBRL files.
The XBRL tagging engine, which forms the core of the self-service offering, is
compliant with the taxonomy released by MCA. Users of self-service need to have a
reasonable level of familiarity with the MCA taxonomy. DataTracks can train users on MCA
taxonomy where required.
One of the main advantages of the self-service facility from DataTracks is that users
need not update their software application when changes to taxonomy are announced by MCA.
DataTracks updates such changes in their tagging engine through their change management
process. Users are therefore assured of the most up-to-date solution equipped to handle
their XBRL compliance requirements.
The self-service facility is an important addition to DataTracks' existing set of
offerings on XBRL. DataTracks offers (a) XBRL template, useful for companies with simple
financial statements and (b) a Full Service, where users send financial statements and
DataTracks takes care of preparing XBRL instance documents. These services are aimed at
companies whose financial statements need to conform to specific disclosures that are not
typically applicable to all companies.
About DataTracks India:
DataTracks India is part of DataTracks Global, leaders worldwide in preparation of
financial statements in XBRL and iXBRL formats for filing with regulators. DataTracks
Global prepares more than 10,000 statements a year in XBRL format for regulatory filings
with SEC in United States, HMRC in the United Kingdom and MCA in India. DataTracks Global
is a unit of TaurusQuest (http://www.taurusquest.com [http://www.taurusquest.com ]).
Website: http://www.datatracks.in [http://www.datatracks.in ]
Primary Media Contact: T R Santhanakrishnan, trs@datatracks.in, 91-44-42316368
Photo:
http://photos.prnewswire.com/prnh/20120730/IND10050354
Source: TaurusQuest Services India Pvt Ltd
PRN