Once you have completed your Annual Financial Statements, to create an XBRL version for submission to CIPC,
Go to XBRL...XBRL Submission
This will auto invoke a Requirements Survey, to validate whether you need to submit XBRL financials:
Note: If you are sure you need to, for eg: if the entity is audited, you can skip this step:
Otherwise if you are unsure, follow the steps.
You will notice a progress bar will appear at the top, which will be a visual guide to the steps involved::
Step 2 involves uploading a completed or opening and completing the questionnaire:
Complete all required information and Save:
The next step is the tagging of the information:
Column labels explained:
- Mandatory - this is information that MUST be submitted (If not submitted the file will return an error/be rejected). Draftworx auto filters to Mandatory by default. There is a filter to toggle this on and off:
Note: Draftworx tags all applicable facts on the financials, NOT just the mandatory items.
2. Submission Value: These are values that will be submitted in the XBRL document; if there is a value in this column and none in ‘Manual Override Value’, it means that the value was tagged in the financials or pulled from ‘Client Setup’.
3. Manual Override Value: This is a manual input value to be used where necessary; a value inserted here will appear in the ‘Submission value’ column.
4. Footnote: This column is reserved for when a mandatory value has a zero value; a footnote explaining why or that you agree needs to be entered here.
You can toggle between showing and hiding the financials here:
Tagging explained:
You will note that the rows are colour coded; the green rows contain completed information, and the pink rows still require values.
Complete all of the pink fields' information until there are none left.
You can either type in the values in the Manual override column, or preferably, tag the information on the financials itself, for eg:
Once you have completed all cells and there are
no pink fields left, preview the submission:
When scrolling through the financials, you will see reports that have been "block-tagged" (pink):
:
You will also see each of the fields that have been tagged; also in pink:
The second last step is to Validate the file:
You will then get a ‘CIPC XBRL Validation Report’, which will highlight any Errors or Warnings.
Errors: This will result in a rejection from CIPC (make sure they are cleared before submitted to CIPC). Go back to Complete all mandatory tags:
If you require any assistance with clearing these errors, please contact our support team and they will gladly assist you.
Warnings: These will not result in rejection – your submission will not be affected.
Once completed, go to the final step of downloading the file:
The wizard will indicate whether you have completed all steps successfully or not:
Once all steps have been completed, the XBRL document (extension .xhtml) can be downloaded and submitted to CIPC.