Dynamics NAV Solutions

XBRL Reporting
Fact Sheet

Regulators have created numerous financial reporting requirements for nearly all types of businesses. Report formats often vary greatly even within business categories, forcing you to package the same data numerous times and different ways to satisfy all of those requirements.

The Extensible Business Reporting Language, or XBRL, is an electronic reporting language based on XML tags that provide a standard way to communicate financial data by separating content from format, allowing dialogue between disparate systems. Using templates called taxonomies, you can map your financial data easily and send it to the necessary recipients quickly. Exchanging information becomes a straightforward task.

XBRL uses financial reporting standards to export financial data across all software and technology platforms, including the Internet. It facilitates the exchange of financial information and saves you from reentering and reformatting your data over and over again.

Dynamics NAV has long understood that e-business solutions, to be truly effective, cannot be isolated from the core ERP system. This is why XBRL in Dynamics NAV is integrated with the General Ledger.

Taxonomies imported into Dynamics NAV let you map financial data directly from your General Ledger to the XBRL tags. This enables simple distribution of your financial information and guarantees a smooth
transfer of data directly from your chart of accounts. No data re-keying is necessary.

With XBRL you can:

• Import reporting taxonomies from external entities
• View information attached to taxonomies
• Map taxonomy lines to any combination of General Ledger accounts
• View and print out XBRL document files for review before sending
• Export XBRL documents and format them as:
  • Printed financial statements
  • HTML documents for a Web site
  • Raw XML files
  • Specialized reporting formats
    

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