How to Submit an ixbrl File in Sage

Are you trying to figure out how to submit an ixbrl file in Sage? This can be a daunting task, especially if you’re not familiar with the software or the filing process. In this blog post, we’ll walk you through step-by-step how to submit an ixbrl file in Sage. Once you understand the process, it will become much easier and more efficient for you. So let’s get started!

Sage 50 is immensely popular among businesses and accounting professionals across the world. With a plethora of amazing tools and features, this premier accounting software helps businesses and professionals perform their accounting tasks more efficiently.. However, there are certain features the users may often find difficult to use. Some users have informed us that they are not quite familiar with the process of submitting an iXBRL file in Sage 50. If you are yet to use this feature or are having issues with it, simply go through this blog. Here, we will take you on a tour of this useful functionality. After going through this blog, you will have a fair idea of what an iXBRL file is and how to file it in Sage 50.

Here we go!

What is an ixbrl File?

An ixbrl file is a digital file format that allows businesses to submit their financial information to the HMRC in a structured way. This means that the data can be easily processed and understood by the HMRC, making it quicker and easier for them to assess your tax liability.

The ixbrl format is an XML-based format, which means that it uses tags to structure the data within the file. This makes it very similar to HTML, which is used to structure web pages. However, the ixbrl format is specifically designed for financial data, so it includes additional tags that are not found in HTML.

To submit an ixbrl file to Sage, you will need to use our online service. This can be accessed via the ‘File’ menu, and then selecting ‘Submit an ixbrl File’.

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Step to Submit an ixbrl File in Sage?

A) Procedure to Submit an iXBRL File to HMRC

• Open Sage Final Accounts
• Go to Accounts Preview 
• Click on Full set of Accounts
• Click Generate Set of Accounts > iXBRL file for online filing
• Click Generate. Two iXBRL files will be generated- full set of accounts and abbreviated set of accounts
• Go to the Client Summary page. Click on the Final Accounts section. You will see the entries for both these files
• Click the full version of the full set of accounts file. A summary of the iXBRL file will be displayed on your screen
• Go to Actions
• Click on Download
• The file will be downloaded onto your system. It will have a .htm extension
• You will need to attach this file to the tax return of your client in Sage.

B) Procedure to Submit an iXBRL File to Companies House

• Open Sage Final Accounts
• Go to Accounts Preview 
• Click on Full set of Accounts
• Click Generate Set of Accounts > iXBRL file for online filing
• Choose the abbreviated set of accounts files. Companies House accepts this type of iXBRL file only
• If you are filing online for the first time in Sage Final Accounts, you will need to enter the Presenter ID, Presenter Authentication Code and the Registered Email ID. Moreover, if you are filing online for the first time for this particular customer, you will need to provide his Company Authentication Code.
• Click Generate. Two iXBRL files will be generated- full set of accounts and abbreviated set of accounts
• Go to the Client Summary page. Click on the Final Accounts section. You will see the entries for both these files. 
• Go to Actions
• Click on Download
• The file will be downloaded onto your system. It will have a .htm extension
• You will need to attach this file to  the tax return of your client in Sage.

C) Procedure to Submit an iXBRL File to Revenue

• Open Sage Final Accounts
• Go to Accounts Preview 
• Click on Full set of Accounts
• Click Generate Set of Accounts > iXBRL file for online filing
• Click Generate. 
• You will be directed to the Summary page where the iXBRL file for onward submission to Revenue will be generated
• Click on the iXBRL file 
• You will be directed to the Summary page where the iXBRL file for onward submission to Revenue will be generated
• Go to Actions
• Click on Download
• The file will be downloaded onto your system. It will have a .htm extension
• You will need to attach this file to the tax return of your client while filing through the Revenue’s Online Service (ROS).

Read Also-: How do I Share a Company Data File using Remote Data Access

Final Words:

We hope the sequential steps mentioned above would help you a great deal while submitting an iXBRL file in Sage 50. If you are having any difficulties in carrying out the steps above or if you want to know more, we would recommend you to get in touch with some authorized Sage professionals 1800 964 3096.

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