Hello everyone. In this post, we will see the process of creating a new file and adding the company details in Saral XBRL for XBRL Filing.
XBRL (eXtensible Business Reporting Language) is a language for electronic communication of business and financial data which is revolutionising business reporting around the world. It offers major benefits to all those who have to create, transmit, use, or analyse such information.
To know more on XBRL, read:
In Saral XBRL, the process starts with the creation of a new file for the financial year, for which filing is to be done.
After installation and registration of Saral XBRL, open Saral XBRL and click on New Company under Main for creating a new file.
Now, the file creation window will be displayed. Here, enter the file name for identification and select the financial year for which the XBRL filing is to be done.
Next, select the type of applicable Taxonomy from the dropdown. If IND-AS is applicable, then enable the option IND-AS.
If the company is newly incorporated i.e. current FY being the first year of filing, then enable Company Newly Incorporated.
If XBRL filing was done through Saral XBRL for the last FY, then the basic details like company information and others can be imported from the PY file. To import likewise traces the last FY file and the details will be auto updated in Company information page on file creation.
The file will be created and the Company General Information window will be displayed. If the file is created from the previous FY, then the basic details will be pre-available. Else, enter the required details.
Note: All Elements in RED are mandatory fields.
Here, the button next to the elements depicts the type of element entry as explained below:
•T is for Text Entry when long text is the input for the element like Company address, Service Provider details, and others.
•AF is for Auto Fetch to get the details from MCA or related websites, automatically
•M is for Multi Data entry where multi-level of information has to be entered for an element like Product details, Share Capital details, and others.
•A is for Attach File used to attach any file HTML file which is required in any schedule or notes.
Note: Only HTML Files can be attached. Other files attached will lead to error on instant document creation.
•N is for Navigation to the child schedule/note from where the final value will be taken as the element value.
To know more on rules of data entry for the elements, click on Rules under Specific Business Rule column of the specific element.
To add any footnote or remarks for the element, click on Foot Note under Foot Notes column of the specific element
After entering the required details, click on Save, and the file will be ready for financial and non-financial details entry required for XBRL filing.
This completes the process of a new file and adding the company details in Saral XBRL for XBRL Filing.