Digita Software from Thomson Reuters makes iXBRL history

19 October 2011

LONDON, October 19, 2011— The Tax & Accounting business of Thomson Reuters announced today that its accountancy software brand, Digita, has made iXBRL history. Following the introduction of a new service by Companies House, the Digita Accounts Production solution was used to generate and electronically file the first set of iXBRL compliant audited accounts.

Companies House has confirmed that it received the first set of iXBRL compliant audited accounts in July and the accounts, submitted by Paul Winston Ltd, Chartered Accountants, Westcliff-on-Sea, were produced by the practice using Digita Accounts Production.

Jack Mansfield, F.C.A., head of E-Accounts Transition, Companies House commented on the success:

"Digita is the first software provider to achieve the e-filing of iXBRL format audited accounts with Companies House. The first was filed in July by Paul Winston Ltd, Chartered Accountants and since then, we have received a further seven sets: all generated by Digita. I found it really fascinating to see these - they are ‘global firsts’ as far as a public register and iXBRL are concerned."
"We are delighted to make history,"
added Paul Winston, Paul Winston Ltd.
"The process is so straight forward, and the ability to electronically file accounts without having to spend hours retyping every word of the notes represents a major breakthrough. It is something we have been looking forward to for years. We look forward to an expansion of the types of accounts that can be filed, for example abbreviated small company audited accounts, as this will only serve to enhance the service."
"We are committed to making it easier for tax and accounting professionals to adapt to this new environment of financial reporting by delivering world-class iXBRL technology that can be relied upon,"
said Tom Walsh, senior vice president and managing director, EMEA, the Tax & Accounting business of Thomson Reuters.
"Our aim is to provide an unmatched set of tools to manage iXBRL compliance."

iXBRL is the newly introduced computer readable data standard for financial reporting which HMRC and Companies House have adopted for electronic filing and accounts. The latest version of Digita Accounts Production is the result of significant re-development to ensure that iXBRL is integrated seamlessly into the software. The highly intuitive solution has the advantage of working with the latest Microsoft operating systems, SQL database and .NET platform. Data input is extremely flexible and it is suitable for use by all sizes of practice, from sole practitioners right up to large practices that appreciate the power and sophistication the system offers.

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