What are your options for producing iXBRL accounts?

[Sandeep John]

You have three choices:

•	Use an accounts production software that would produce iXBRL documents automatically. However, you need to invest in such a software, invest in training your staff to acquire expertise in UK GAAP or IFRS and lose staff time in setting up and maintaining the relationships between account heads and UKGAAP/IFRS taxonomy labels.
•	Use an iXBRL tagging software. However, you need to invest in (or rent) such a software, invest in training your staff to acquire expertise in using the software (several of these are complex) and expertise in UK GAAP or IFRS and lose staff time on a continuing basis in mapping line items in your statements with UK GAAP/IFRS taxonomy labels.
•	Use DataTracks. Just upload your statements (in whatever format you prepare them; we accept most formats). We do everything and return to you the iXBRL documents for review and filing with HMRC. You can review the iXBRL documents using any browser.

DataTracks is designed for use by Companies and Tax Advisors/Accountants who do not want to invest in software and training and lose precious staff time on non core areas.

DataTracks is a provider of fully managed tagging services. 

Email us: [e-mail] 

Call us: [phone]

or Check out our website www.datatracks.co.uk for more information.