Many companies have the luxury of having years of financial data in their Excel sheets as well as code and other tools used to crunch the numbers of their financial reporting.
While this is needed for creating financial reports, it will only serve to slow down the speed of the ESEF report conversion, which is why we recommend you use the template we provide.
In order to make sure that you do not need to input numbers in several Excel workbooks (and double check that everything is correct), you can set up links from your Excel file to our Excel template, so the figures are transported automatically.
The only restriction to this process is:
You are not allowed to change sum formulas used in the template, so any cell marked with green or yellow, you should leave (they will calculate automatically).
Below you will find a guide on how to set up links between two workbooks.
How to Link Cells Between Two Excel Workboks
When you set up links between your own Excel workbook and the template we provided you with, you need to employ the following code:
=[Workbook_name]Sheet_name!Cell_addressAfter inputting the code with the relevant workbook name, sheet name and cell address, Excel will let you link to the specific file on your drive. Here is an example of how the code looks after the link has been set up:
='C:\Users\ParsePort\Desktop\[Figures.xlsx]Sheet1'!$H$12Setting Up the Links
Start by opening your Excel file along with our Excel template.
Opening the two in a side-by-side view makes this process a lot smoother, it's time to input the links.
The first time you input the code, you can do so by inputting the standard code below, but exchange "sheet_name" with the name of the sheet in the workbook you are referring to and "cell_address" with the address of the cell. When you hit "enter", a window will open requesting you to select the workbook you refer to. This will change the [workbook_name] part of the code for the specific address on your computer:
=[Workbook_name]Sheet_name!Cell_addressWhen the first cell is linked, you simply need to copy/paste the code to the other cells you want linked, making sure to update the sheet name and cell address accordingly.
While adding the links to the workbook, make sure not to change the fields in the Excel template containing sum formulas (the ones highlighted in green and yellow).
When everything has been linked, you can upload the template to the ParsePort XBRL Converter and run a test conversion to make sure that everything works.
Note that when assisting you on support matters related to issues with specific figures, we may need you to also attach the workbook you are linking to in order to successfully troubleshoot your issue. However, please note that we will let you know when and if this is the case.
The Benefits of Using Our Excel Template
Increased conversion speed - The smaller the files you are trying to convert, the faster the conversion will happen. Therefore, because the template we create for you only contains the information needed to create the iXBRL file, you will see faster conversion times than if you were using your own heavier files.
Better support - When we know all the elements in your file 100%, it is much easier for us to provide fast and efficient support.
Top security - Our file only contains the data which is absolutely necessary to produce your iXBRL file, so by using the template we create for you, you avoid sending us potentially sensitive data.