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Top 5 XBRL Filing Software in 2023
Category: XBRL & Cost-XBRL, Posted on: 04/03/2024 , Posted By: Webtel
Visitor Count:3246

XBRL, which stands for eXtensible Business Reporting Language, is a revolutionary tool used worldwide for the electronic communication of business and financial data. With the help of the right XBRL Filing Software, a business can transform the way business reporting is conducted and can offer numerous benefits in the preparation, analysis, and communication of business information.

XBRL can be employed for a wide range of business and financial purposes. In this blog, we have provided a list of leading XBRL software that not only facilitates internal and external financial reporting for companies but also handles tasks like filing loan reports and conducting credit risk assessments.

Here is a curated selection of the top five XBRL software solutions in 2023 that streamline business compliance, simplify the preparation of balance sheets, and facilitate other essential tasks.

Webtel's Web-XBRL Solution

Webtel's Web-XBRL Software is the best XBRL filing solution for your business. Webtel with its advanced features and automated processes leads to timely reporting and savings in the compliance cost. Sometimes even if the filing is done in the proper time but any error found at the later stages could lead to further costs. To avoid such costs and charges, Webtel’s XBRL software performs the process of XBRL filing right from scratch till complete filing is error-free and is checked multiple times, and most importantly everything is as per the MCA guidelines.

Webtel XBRL Solution, Web-XBRL, is the product of pride that has given us valuable recognition from MCA, ICAI, ICSI, and other such authorities.

Webtel XBRL Software Features

  • In built validation to avoid error.
  • Global Error locator.
  • Linking functionality :- linking of tables with other associated tables for further detailed tagging to avoid error.
  • Colour matching concept to avoid error.
  • Mandatory line item in red colour to avoid error.
  • MCA Validation Tool.
  • Auto calculation.
  • Fetch details from DIN /CIN/ membership no.
  • Import of any xml of any vendor.
  • Latest video available ( for every coming change in features)
  • User-Friendly Software.
  • Import and export of word and excel file.
  • Feed data by single and double Click functionality , copy/ paste, manual punching are allowed.
  • Alert on duplicate PAN , negative value, opening and closing balance mismatched.

Gen XBRL Software

The Gen XBRL e-filing software is a leading XBRL filing solution, that is highly advanced and designed specifically for companies and professionals in the fields of Company Secretaries and Chartered Accountants. This software effectively supports CA and CS individuals by streamlining the process of creating and e-filing balance sheets and profit & loss A/c in the latest XBRL format, saving them valuable time. With this XBRL software, you can easily overcome the challenges mentioned above. It enables you to generate XML files compliant with both accounting standards, namely the accounting standard and Indian accounting standard (IND AS), for both standalone and consolidated financial statements.

Gen XBRL Software Features

  • e–Filing of Balance Sheet
  • User-Friendly Software
  • MCA Validation Tool
  • Annual Return Form (MGT-7, AOC-4, etc)
  • Compliance Retreated Form

Taxmann XBRL Software

The tool has been seamlessly integrated into the MCA website, allowing users to retrieve information from the website by entering the DIN or CIN. It also validates the XML file using the MCA utility and prepares it for uploading onto the MCA website. The process is made easier using Excel templates for import-export operations.

The software, whether with or without information, provides the option to download Excel templates. It also has a unique feature that allows users to immediately upload or edit information by importing pre-filled Excel templates. Additionally, it generates and provides unlimited return forms in various formats such as C&I - AS, C&I - Non-Ind AS, and Cost Audit Report. Furthermore, it automatically populates relevant fields with the information provided in one field.

Taxmann XBRL Software Features

  • Unlimited Returns for Client
  • Auto Calculation
  • Import/Export Tool

Relyon's Saral XBRL Software

Relyon's Saral XBRL Software is a highly efficient tool designed to facilitate the conversion of your annual report information into XBRL format. True to its tagline, "Simplify your XBRL returns," this software streamlines the process by allowing you to input the required details and generate an instance document, which can be easily filed on the MCA's website.

The Saral XBRL software offers a user-friendly interface with a comprehensive flow of XBRL taxonomy. It presents users with a single screen for data entry, incorporating appropriate segments to ensure fast and accurate input. By linking scheduled and sub-scheduled events, the software eliminates the need for duplicate entries. Moreover, it facilitates grid entries for share capital and fixed assets.

This platform empowers users to independently create returns through its built-in instance document creation and validation features. Additionally, Relyon's Saral XBRL software offers validation during data entry, web updates to handle changes, robust software security, and backup and restore functionalities.

Features of Relyon’s Saral XBR Software

  • Cost and Compliance Report
  • Fetch Din /Cin Details
  • Easy Return Filing

Microvista's XBRL software

Microvista's XBRL software’s user-friendly interface eliminates the need for extensive training, enabling users to quickly generate XBRL reports with simple steps. The software facilitates data import from previously generated XML/XBRL files and incorporates built-in validation to minimize errors. With convenient features like drag-and-drop and copy-paste functionality, users can easily prefill CIN & DIN information. The inclusion of fully linked schedules and sub-schedules ensures the avoidance of duplicate entries.

The XBRL platform boasts several notable features. It eliminates the necessity of manually inputting property plant equipment scheduled data and allows for the import of a mandatory error list template before validation. Moreover, users are not required to enter zero or NA in all cells. Additionally, the software supports XBRL conversion for financials compliant with both IndAs and C&I taxonomy.

Features of C2X XBRL Software

  • Cloud-Based Solution
  • CIN & DIN Facility
  • Generate XBRL Document

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