How does it work?

How File4 Works

File4 is a service delivered through a secure website. Accessed via a standard internet browser, File4 intelligently tags the numeric data and free text held in MS Word documents, in line with the relevant taxonomy (UK GAAP or IFRS).

Its learning engine enables File4 to make smart, predictive tagging decisions, which it stores to enable ‘roll forward’ of existing Word documents and even faster tagging in subsequent years.

The software incorporates a ‘traffic light’ system to prioritise review activity, with an intuitive, split screen view for rapid cross-referencing of tags against their taxonomy.

File4 is a simple, straightforward solution to the problem of converting Word documents into iXBRL format, ready for filing with HMRC.

File4 simplifies HMRC compliance. It was designed for accountants, not iXBRL experts. It provides:

• Predictive, intelligent tagging against UK GAAP or IFRS taxonomies.
• ‘Traffic light’ classification of tags to prioritise review activity.
• Intuitive split screen view for quick cross-referencing between tags and taxonomy.
• Full audit trail tracking every action.
• Learning engine stores tagging decisions, for faster tagging in subsequent years.
• Secure software service - you just use a web browser.

The File4 solution supports both UK GAAP and IFRS taxonomies. It also covers the extended iXBRL taxonomies required for banks, building societies, charities and more.

To find out what steps you need to take to be iXBRL-compliant, hear Gareth Bradbury, Head of Product Management for UNIT4 Business Software talking to Accountancy Age: -

http://www.accountancyage.com/aa/analysis/2027351/video-dont-panic-ixbrl