Exact Globe

Product Update 407: XBRL functionality supports link-based calculation (German legislation)

Extensible Business Reporting Language (XBRL) is a language for the electronic communication of businesses and financial data. Currently in Exact Globe Next, XBRL is only supported for Germany, Italy, and Netherlands. Whenever fiscal taxonomies are imported, you have to manually link the general ledgers to the parents (sub-total) and child. This process is time consuming as the sub-total can be derived from the child.

In this product update, the XBRL functionality for the German legislation supports link-based calculation of the parent elements of the fiscal taxonomies. Therefore, manually linking the general ledgers is not required. The changes are as follows:

Importing fiscal taxonomy

When the fiscal taxonomy is imported, the fiscal taxonomy version will be checked. If the version is 2011.09.14 or above, the fiscal taxonomy and requirement will be imported. Linking of the general ledgers will not be required. If the version of the fiscal taxonomy is lower, the fiscal taxonomy will be imported based on the existing functionality.

Linking fiscal taxonomy

The following message will be displayed if the existing fiscal taxonomy dated 2011.09.14 and above has been imported, and the general ledger has been linked to the parent account. 

This message will not be displayed if the existing imported taxonomy has no general ledgers linked to the parent account previously. 

For the new fiscal taxonomy version 2011.09.14 or above, general ledgers cannot be linked to the parent account.

If the fiscal taxonomy version 2011.09.14 or above is imported, the linking of the general ledgers to the parent elements will be automatically disabled.

Generating instance documents

When new instance documents are generated, the system will calculate the amount based on the method determined when linking the fiscal taxonomy. If New is clicked at Finance à VAT à Statistics à XBRL à Instance documents, the calculation method of the selected fiscal taxonomy will be checked. If the link-based calculation method is used, the sub-total amount of the parent element will be automatically calculated based on the amount of each general ledger linked to the child element.

Note: The link-based calculation is available only for the fiscal taxonomy version 14 September 2011 and above. Manual linking is required for the other versions.