The Altova European Single Electronic Format (ESEF) XBRL Add-in for Excel shields reporting companies from the complexity of XBRL syntax.
This unique tool makes it easy for financial professionals to generate ESEF XBRL reports compliant with ESMA filing rules, all in an application where they’re already comfortable working: Excel.
The Altova European Single Electronic Format (ESEF) XBRL Add-in for Excel shields reporting companies from the complexity of XBRL syntax.
This unique tool makes it easy for financial professionals to generate ESEF XBRL reports compliant with ESMA filing rules, all in an application where they’re already comfortable working: Excel.
As of January 1, 2020, the European Securities and Markets Authority (ESMA) has mandated that companies with securities within the EU and UK submit their financial reports in ESEF, which is an iXBRL format.
ESEF (European Single Electronic Format) defines a digital financial report with guidelines defined by ESMA. By standardizing on ESEF, companies and regulatory agencies can benefit from the advantages of XBRL. These include support for data validation, improved consistency and compatibility for software processing, and simplified comparison of reported data within an organization and among multiple companies.
For filing companies, however, the challenge lies in getting backend data into a valid XBRL format according to the ESEF Taxonomy, especially since the employees recording the data are generally financial professionals.
What if you could generate valid ESEF XBRL reports directly from Excel? The Altova ESEF XBRL Add-in for Excel does exactly that, offering financial professionals an easy-to-use template using software they're already familiar with.
Building ESEF XBRL in Excel has numerous benefits:
To make viewing and managing report properties even easier, the ESEF Filing Pane lets you view and update information pertaining to document properties and tables. The Cell Documentation window displays the description of the currently selected cell or property as it’s annotated in the underling taxonomy, so you can understand exactly what to enter.
At any time during report creation, and especially before exporting the report to iXBRL, you can validate data entered in the Excel template and filing pane. Validation ensures that the XBRL data being filed conforms to the XBRL specification.
If a validation error is detected, the Validation Report window displays a message about the error and a hyperlink to the cell where the error occurred for easy troubleshooting.
The ESEF XBRL Add-in supports the ESEF XBRL Taxonomy from Version 2017 on. The list of supported XBRL taxonomies is periodically updated to include the latest versions, independently of Altova add-in releases.
To view, install, update, and uninstall ESEF taxonomy versions, you can use the Altova XBRL Taxonomy Manager by selecting Manage Taxonomies in the Excel ribbon.
It's easy to get started with the Altova ESEF XBRL add-in for Excel. Simply download the software and install it to begin your free, 30-day trial.
