News

New iXBRL Conversion Tool Simplifies iXBRL Tagging

09 September 2011

LONDON, September 6, 2011 — Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, today launches the latest version of the Digita iXBRL Conversion tool. Designed for accountancy firms that are looking to manually tag accounts for submission to HMRC, the Digita iXBRL Conversion tool has been enhanced with a new import feature that will deliver significant time-saving benefits

The simple to use and intuitive solution equips tax and accounting professionals with the ability to review iXBRL statements produced by third party software in addition to converting accounts from Microsoft Word. Final accounts can now be imported from a source document to which the accountant can independently apply the conversion routines irrespective of the method of generation.

This is a significant development as other tagging solutions are unable to import with such flexibility and it is a feature that is set to deliver significant time savings for its users. Digita iXBRL Conversion is part of a complete portfolio of integrated solutions comprising Digita Corporation Tax and Digita Accounts Production; all designed for accountancy practices of any size including sole practitioners, mid-tier firms and the Big 4.

The key enhancements to Version 1.1 include:• iXBRL tags are colour coded for easier viewing • Excel/CSV mapping export of Tags• Pre emptive validation to increase the speed and accuracy of tagging• Recovers and backs up documents in case of power failure • Dockable windows to allow easy working on multiple monitors

Paul Duffield, Digita product manager said:

"We have shipped the latest version of the Digita iXBRL Conversion tool to customers ahead of the final quarter of 2011 when 49 percent of year ends occur. There are some significant enhancements that will make it easier and more cost-effective for accounting firms to manually tag accounts rather than outsource the process if they do not run a final accounts production system."

The comprehensive Digita iXBRL Conversion tool performs an iXBRL validation check each time an item is tagged or changed in a report. Any ‘pre-export’ iXBRL errors are displayed in the mappings list under the associated mapping item enabling any iXBRL errors to be resolved prior to the generation of the report.

Further information can be obtained by visiting:http://www.digita.com/pro2011/software/ixbrl/ixbrlconversion.aspx


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