How does our iXBRL solution work?

Overview

Companies who utilize accounts production software for their accounts data but then output this information into other software (e.g. Word, Excel etc.) for final editing or page layout, typically produce their final company accounts in PDF format for security and readability.

To address this workflow, we offer an integrated conversion solution for converting financial accounts from PDF to iXBRL / XBRL (other input file formats also supported).

This not only eliminates the need for exposing of Word and Excel versions of final accounts outside the company, but also guarantees a much faster and more accurate iXBRL / XBRL output.

The solution is an integrated and seamless service which utilizes a combination of:

  • Our unique conversion software – pdf2ixbrl is the only provider utilizing software that converts directly from PDF to iXBRL / XBRL
  • Manual verification services – our operatives control, review, quality assure and validate output in advance of delivery to you

Features of service

By utilizing our conversion service customers are assured:

  • Guaranteed results – we eliminate the transition challenges associated with iXBRL / XBRL conversion, delivering fully compliant output
  • 100% accuracy – optimal use of technology for conversion, combined with manual review for quality certification, ensures 100% accuracy in all deliverables
  • Taxonomy expertise – customers get the benefit of our full domain expertise - UK GAAP, Irish GAAP, IFRS, Singapore ACRA
  • Quick turnaround time – financial accounts sets turned around within 4 business days after manual review
  • Competitive pricing – significantly lower priced than other available options – our technology gives us unique efficiencies !
  • If any changes are required after delivery, new output is then supplied by us – this is all part of the service
  • All UK and Irish accounts processed locally

Quality certified and XBRL validated

  • iXBRL / XBRL output generated by our software goes through an additional layer of quality checking in the form of a manual review, which is done post the taxonomy-match process
  • Fully qualified accounts professionals control, review and quality assure the conversion of your accounts to iXBRL / XBRL to ensure 100% accuracy of the output – these reviewers are experienced in UK GAAP, Irish GAAP, IFRS and Singapore ACRA, and are trained on the associated tagging requirements
  • The review eliminates the possibility of errors due to taxonomy anomalies in a specific customer’s financial reporting
  • The manual review process is integrated with the software conversion to deliver seamlessly to the customer
  • Before despatch to the customer, as a final step, all financial statements are validated, so that you do not face any issues during filing:
    • UK accounts – for UK accounts iXBRL validation is performed against the HMRC validation service before delivery to the customer
    • Irish accounts – for Irish accounts iXBRL validation is performed against the Revenue validation service before delivery to the customer

Who should utilise our conversion service?

Users of our conversion service to iXBRL or XBRL include:

  • Small, medium and large companies
  • Accounting firms
  • Tax agents
  • Service and outsourcing companies (BPOs / KPOs)
  • Accounts production software vendors
  • Printing and design companies undertaking hardcopy production of annual accounts for their clients

The software

Unique technology

pdf2xbrl is the only direct PDF to iXBRL / XBRL conversion software on the market – for further information on the software itself, go to our pdf2xbrl Conversion Software web site section

The software works on the principle of detecting structure and patterns that the eye sees when viewing a page;  it interprets this visual logic automating the conversion of PDF into iXBRL or XBRL by:

  • Analysing company accounts to generate iXBRL / XBRL validated against the designated taxonomy
  • Heuristic dictionary functionality within the software which matches unrecognized labels to the taxonomy