Sapphire has launched iXBRL adaptors for two of the UK’s market leading financial management solutions: Infor FMS SunSystems and SAP Business One.
From 1 April 2011, HMRC will not accept paper based company tax returns, accounts and computations for accounting periods ending after 31 March 2010. Companies and organisations will have to submit their accounts and returns online and pay any corporation tax and related payments due electronically. With the April 2011 deadline fast approaching the race is on for organisations to get themselves up to speed with the new reporting standard iXBRL (Inline eXtensible Business Reporting Language).
Sapphire Systems, a provider of Infor FMS SunSystems and the largest reseller of SAP Business One in the EMEA region, will exclusively provide iXBRL adaptors powered by Arkk Software Solutions, specifically for the Infor FMS SunSystems and SAP Business One solutions.
David Singh, Sales & Marketing Director at Sapphire told FSN, “Over the past 6 months we have had an increasing number of inquiries from our customers about iXBRL and how SunSystems and SAP Business One will address the online filing issue. We carried out our own research and it is true to say that many accounting software authors do not have an offering; we therefore decided to address the issue directly. In Arkk Solutions we have found a software partner that has a comprehensive and cost effective offering - that is HMRC recognised and ready to go”.
iXBRL for Infor FMS SunSystems, and SAP Business One, is a modular application that takes output from the Vision reporting suite and attaches the HMRC reporting tags through a comprehensive set of taxonomies (classifications) and recreates the report, including notes and calculations, in iXBRL format ready for online filing.
Richard Metcalfe, iXBRL Project Director at Arkk Solutions, said “We are delighted to be working with Sapphire to bring SAP Business One and SunSystems users a complete, affordable solution for filing their tax returns.”
