(PRWEB) November 19, 2012
DataTracks India recently updated its XBRL software with the latest taxonomy and validation rules for the current year as released by the Ministry of Corporate Affairs (MCA), Government of India. The beta version of the validation rules was released by MCA on 06th Oct, 2012, and the final version on 14th Oct, 2012.
Customers can now choose from three easy-to-use solutions to convert their financial statements into XBRL format for filing with MCA. DataTracks offers an XBRL template, web-based self service software, and a full service solution for XBRL filing.
The XBRL template is pre-tagged with placeholders for financial data. Users enter data against the placeholders, save and download the validated XBRL instance document that is ready for filing with the MCA. It is best suited for converting simple financial statements with standard notes on accounts into XBRL format.
With the web-based self service solution, users can download the web-based software and upload their financial statements. Once the tagging is complete, users can download XBRL instance documents. The software is equipped to handle financial statements of any levels of complexity.
The full service solution from DataTracks provides users the flexibility to upload their financial statements and leave the XBRL conversion task to DataTracks. The output with a reviewer’s guide would be sent to the user to show the taxonomy tags chosen. DataTracks would incorporate all the revisions as required by the users, any number of times, at no additional cost. When the users are satisfied with the output, they can file this with the MCA.
“We ensure that our customers receive the most up-to-date XBRL solutions at competitive rates. Our XBRL solutions are backed by the accounting professionals with expertise in XBRL technology", said Sneha Rajagopalan, Vice President, Service Delivery, DataTracks.
About DataTracks India: DataTracks India is part of DataTracks Global, leaders worldwide in the preparation of financial statements in XBRL and iXBRL formats for filing with the regulators. DataTracks Global prepares more than 12,000 statements a year in XBRL format for regulatory filings with SEC in the United States, HMRC in the United Kingdom and MCA in India. DataTracks Global is a unit of TaurusQuest (http://www.taurusquest.com).