WELCOME TO ONLINEXBRL.COM: Financial Solution for All XBRL Services

WELCOME TO ONLINEXBRL.COM: Financial Solution for All XBRL Services

We at OnlineXBRL.com are a diverse group of young, educated, and dedicated professionals committed to providing our clients honest, clear and sustainable performance and 100% satisfaction with our XBRL Services.

Our team has quite seven years of expertise, and we are well-versed in doing XBRL for Indian and international corporations. Our team has created more than 1800+ XBRL in more than seven years

XBRL is a language for the electronic communication of business and financial data, revolutionizing business reporting worldwide. It provides major advantages in preparing, analysing and communicating business data.

It offers cost savings, improved accountability, and reliability to all those supplying or using financial data. It’s already being placed to practical use in several countries, and implementations of XBRL are growing fast around the world.

What is XBRL?

XBRL stands for eXtensible Business Reporting Language. XBRL was created by XBRL International Inc., a non-profit organisation dedicated to creating and promoting a unified global reporting language (XII).

XII is formed of several hundred members, together with :

  • Government Agencies
  • Accounting Corporations
  • Software Package Corporations
  • Large and Small Companies
  • Lecturers
  • Business Reporting Experts.

XII agrees with the essential specifications that outline how XBRL Services works.

XBRL is an open, royalty-free software specification developed through collaboration between accountants and technologists everywhere.

Together, they formed XBRL International, which is currently created from over 650 members and has world corporations, accounting, technology, government and financial services bodies.

Online XBRL is and will remain an open specification supported XML that's being incorporated into several accounting and analytical software tools and applications.

XBRL Software is a resolution for the Preparation & Filing of Annual Reports in XBRL Mode

What is the website for XBRL of MCA?


What are the Benefits of XBRL Services?

  • Analysis and Communication of Business information
  • Reduces the Manual information entry
  • Cost and Time economical,
  • Meeting IFRS Demand
  • Qualitative information and Decision making
  • Allows the straightforward transmission of data between businesses
  • Improved accuracy and reliability to any or all those concerned in providing or exploiting financial data.

XBRL Applicability MCA: What category of corporations is needed to file monetary statements as per XBRL?

XBRL Applicability MCA: What category of corporations is needed to file monetary statements as per XBRL?

According to the provisions of the Companies Act, 2013 read with Companies (Filing of Documents and Forms in XBRL) Rules, 2015, the following category of corporations shall file their finances with the Registrar in e-form AOC-4 XBRL.

XBRL Filing Requirements are as per the list of conditions given below.

  • Businesses based in India or having an Indian stock market listing
  • Companies having paid up capital of 5 Crore rupees or higher than,
  • Companies having a turnover of 100 Crore rupees or higher than,
  • All companies that are needed to prepare their financial statements following Companies (Indian Accounting Standards) Rules, 2015

XBRL Requirement : Provided that the companies preparing their financial statements under the Companies (Accounting Standards) Rules, 2006 shall file the statements using the Taxonomy provided in Annexure-II and companies preparing their financial statements under Companies (Indian Accounting Standards) Rules, 2015 shall file the statements using the Taxonomy provided in Annexure-II A.

How do companies produce statements in XBRL?

There are several ways to create financial statements in XBRL:

XBRL-aware accounting software products are getting obtainable, which can support the export of data in XBRL form. These tools enable users to map charts of accounts and alternative structures to XBRL tags.

Data from accounting databases are often extracted in XBRL format. It's not strictly necessary for accounting software vendors to use XBRL; the third-party product can do the transformation of the data to XBRL.

Applications can convert data in particular formats into Online XBRL Services. The route an individual company could take can rely on its requirements and the XBRL accounting software and systems it presently uses, among alternative factors.

About MCA XBRL Validation Tool

About MCA XBRL Validation Tool

MCA XBRL Validation Tool ensures that solely those XBRL documents; that satisfy the necessities of Taxonomy and Business Rules are filed with MCA under the Companies Act, 2013.

It is a very important means for raising the standard of financial information/disclosures in XBRL. Successful validation of the instance document is mandatory before filing the MCA portal's balance sheet and profit & loss account.

  • After validating the XML XBRL File,
  • You must select "Prescrutiny" below the File Option.
  • Select scrutiny, and you will get "No Prescrutiny Errors Occurred" displayed on the MCA Validation Tool & now you're able to go.
  • If you need a PDF file for the same, this will be done by choosing the "Export to PDF" option.
  • Opt for the XML XBRL file where saved, and it'll produce a PDF for the same and save it in your system for future reference.

Which class of companies is exempted from filing financial statements in XBRL?

Non-banking financial companies, Housing finance companies and Companies engaged in the business of the Banking and insurance sector business are exempted from filing financial statements under XBRL.

There is no need to meet XBRL reporting requirements as per companies act 2013.

Who are the XBRL Software Vendors?

Who are the XBRL Software Vendors?

XBRL Services are provided by the following vendors :

  • Adept Infoways Private Limited
  • Alphabricks Technologies Private Limited
  • AriveGuru Technology Solutions Pvt. Ltd.
  • BEYONDSQUARE Solutions Pvt. Ltd.
  • CCH Pro system India Pvt.Ltd
  • Chartered Information Systems Private Limited
  • C-MOTS Internet Technologies Pvt. Ltd.
  • DataTracks India
  • Ez-XBRL solutions pvt.Ltd
  • Innodata India Pvt. Ltd.
  • KDK Softwares(I) Pvt Ltd
  • IRIS Business Services Limited
  • Kerberos System Control Pvt Ltd.pdf
  • MAIA Intelligence PVT Ltd
  • Pagaria Consultancy Services Limited
  • Professional Softec Pvt Ltd
  • Relyon Softech Ltd
  • Rhapsody Accounting and Advisory Services Private Limited
  • SAG Infotech Private Limited
  • Sensys Technologies Pvt. Ltd
  • Shriram Value Services Pvt. Ltd
  • Skorydov Systems Private Limited

The above vendors needed XBRL services, and their prices are also as per industry norms; for example, Webtel XBRL Software Price is also as per the nature of the work.

XBRL Filing Requirements or Documents Needed

XBRL Filing Requirements or Documents Needed

The following documents are required for Online XBRL filing:

  • Balance Sheet in excel format
  • Profit and Loss Statement in excel format
  • Cash Flow Statement in excel format
  • Schedules associated with record and Profit and Loss Statement in excel format
  • Notes to Accounts in excel format
  • Audit and Annual Report in word file
  • Related Party Chart
  • Fixed Assets Chart of Last Year
  • Last Year Instance file/ PDF File for reference

Frequently Asked Questions

XBRL makes the data readable with the help of two documents:.

Taxonomy: Taxonomy defines the elements and their relationships based on the regulatory requirements Instance document: XBRL instance documents are business reports in an electronic format created as per the XBRL rules

XBRL can be applied to a wide range of business and financial data. Among other things, it can handle - Company internal and external financial reporting, Business reporting to all types of regulators, including tax and monetary authorities, central banks and governments, Filing of loan reports and applications, credit risk assessments etc.

All organisations can use XBRL to save costs and improve business and financial information efficiency. All participants in the financial information supply chain can benefit, whether they are preparers, transmitters or users of business data.

XBRL is being developed by an international non-profit consortium of major companies, organisations and government agencies. These include leading accounting, technology, government and financial services bodies.

Several software vendors are developing such tools in India, and the companies can choose the one that suits them to create XBRL documents.

No. XBRL is simply a language for transmitting the information. It must accurately reflect data reported under different standards – it does not change them.

A company can benefit investors by presenting its statements in XBRL and raising its profile. It will also meet the requirements of regulators, lenders and other consumers of financial information, who increasingly demand reporting in XBRL. This will improve business relations and lead to a range of benefits.

XBRL benefits comparability by helping to identify genuinely similar data and distinguishing information that is not comparable.