Top XBRL Software in India
For XBRL Return Filing, Preparation and Validation of Annual Report in XBRL Format. India’s 1st Cloud based XBRL Software developed by IND-AS Taxonomy developer of MCA.
Features of
- Cloud based solution - Anytime - Anywhere Access
- User-friendly Interface & User Access Control
- Import data from previously generated XML/XBRL File
- Excel Tagging
- In Built Validations to Prevent Errors
- Search Element Facility
- Easy Drag and Drop & Copy Paste Facility
- Prefill Facility for CIN & DIN
- Add/edit Footnotes
- Fully Linked Schedules and Sub Schedules – Avoids Duplications Of Entries
- Excel Import & Export Facility
- Import From Template for Automatic Tagging
- Easy Location of Mandatory Error List Before Validation
- Error locator feature for validation of errors
- No Need to Add Zero Or "NA" in All Required Cell
- Dedicated telephonic support during office hours
- Generation Of Xbrl Instance Document
- Facility to do XBRL Conversion for financials complying with IndAS as well as C&I Taxonomy
- Auto Fill Data from notes to Balance Sheet
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Extensible Business Reporting Language (XBRL) is a language for the electronic communication of business and financial data revolutionizing business reporting around the world. It has been decided by the Ministry of Corporate Affairs (MCA) to mandate certain class of companies to file balance sheets and profit and loss account for the year 2010-11 onwards by using XBRL taxonomy. The Financial Information required to be filed in XBRL format would be based upon the Taxonomy on XBRL developed for the existing Schedule VI, as per the existing, (non converged) Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006.
The purpose of XBRL return filing is to provide stakeholders with accurate and up-to-date information about an organization's financial performance and operations, which can be easily compared, analysed, and shared.
The use of XBRL is mandatory for companies in some countries, but it may also be voluntarily adopted by companies in other jurisdictions.
The software is simple to use you can fill all the details and check the user interface. The software is used to support the whole financial information with all the related notes.
Yes, Previous year XML import option available in software. Generated by any software, it imports all financial data with related notes.
1. Validate all: In software we can give every schedule validation facility, where you can validate all the schedules one by one.
2. Advance validation: In advance validation you have facility to fill zero, Yes/No and not applicable options fill automatically where the filled is mandatory.
3. MCA Validation tool: You can download the latest MCA validation tool from our software and locate all MCA XBRL errors from our C2X software
In C2X software error locator function is available where you can directly copy paste the error and click the error then after software automatically move to the related filled/Table.
In India most of all software are Desktop based software. Microvsita XBRL Software is the only cloud based XBRL software for MCA return filing. Microvista XBRL Software is also freely available for CA, CS & CMA for XBRL filing.
The MCA XBRL Validation Tool is designed to ensure that only XBRL documents that meet the requirements of the Taxonomy and Business Rules are submitted to the MCA under section 220 of the Companies Act, 1956. This tool plays a crucial role in improving the quality of financial information and disclosures in XBRL. Before filing the balance sheet and profit & loss account on the MCA portal, successful validation of the instance document is mandatory. However, it is important to note that successful validation by the MCA Validation Tool does not guarantee full compliance with the provisions under section 211 of the Companies Act, 1956. It is also necessary to ensure that the validated XBRL document provides an accurate and fair representation of the company's state of affairs as per the financial statements adopted in the AGM.
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