How to Get Excel into XBRL for EBA Filing


Like other regulatory agencies around the world, the European Banking Authority (EBA) has standardized on XBRL for the transmission of data submitted by filing entities.  Benefits of using XBRL range from increased accuracy, to efficiency of supervisory practices and risk identification, and so on. The use of XBRL benefits filing organizations as well, because the now-standardized data can be easily validated and then used further for automated report generation and other common requirements.

However, the challenge lies in getting backend data into a valid XBRL format according to the EBA Taxonomy, especially since the employees recording the data are generally financial professionals. Let’s take a look at a few options for that, including a new product from Altova called the European Banking Authority (EBA) XBRL Add-in for Excel.

EBA XBRL from Excel

 

Create EBA XBRL

There are various ways to get financial data from backend data stores to a valid XBRL format according to the EBA XBRL filing rules. You can outsource XBRL tagging via one of many third-party services, but this quickly becomes cost prohibitive when filing requirements reoccur every quarter, not to mention the time delay caused by adding another layer of service to reporting.

An in-house solution is to map data from a relational database right into XBRL, which also has the advantage of supporting recurrent filing generation – but you need to be fairly technical for that solution to work.

What if you could get the EBA XBRL directly from a ubiquitous productivity tool that end users are already using for working with financial data, namely, Excel?

EBA XBRL Add-in for Excel

The Altova European Banking Authority (EBA) XBRL add-in for Excel makes it easy to build valid EBA XBRL reports using an intelligent spreadsheet template. Fully compliant with the most recent EBA Taxonomy version 2.5, the add-in takes your Excel data and generates valid XBRL behind the scenes for submission.

This means that if you can enter data in Excel, you can generate XBRL – without any specialized technical expertise required!

After installing the add-in once, you’ll have access to a feature-rich Excel template with preset rows and columns, as well as a helpful EBA Filing Pane with entry-helpers to guide you while entering your report.

 

Excel to EBA XBRL

 

To get started, you might opt to re-use existing assets to complete the template. You can import information via Excel formulas or simply copy/paste it into the correct cells. Or, this template can replace your previous tracking spreadsheets, and you can simply update the information here, going forward.

EBA Filing Pane

The EBA Filing Pane to the right of the spreadsheet template lets you specify properties, select tables, and read more about cell contents.

The EBA Filing Properties window lets you view and configure numerous that properties directly affect the content of the XBRL instance file that will be created when you export the Excel to EBA XBRL. When you click a property, you can view a description of what the property does at the bottom of the window before selecting a value.

 

EBA XBRL Filing Properties

 

The Tables window lets you view and select the various tables in the report. Each table with a check box next to it appears on a new sheet (i.e., tab) in the Excel book. To go to a specific sheet, either navigate by selecting the spreadsheet tab or click the corresponding table in the Tables window. To hide the sheet of a particular table, simply uncheck it.

 

EBA XBRL tables

 

Finally, the Cell Documentation window provides information as described in the underlying taxonomy about the currently selected cell in your report, so you’ll know exactly what to enter.

 

cell documentation

 

The EBA ribbon also includes a Help button to get more in-depth guidance during report creation.

As you’re working, you can validate the report to ensure the data you’re filing conforms to the EBA XBRL taxonomy by clicking the Validate button in the Excel ribbon. The Validation Report dialog displays detailed information about any errors or inconsistencies.

Generate EBA XBRL

Once your report is complete in Excel, simply click the Export XBRL button in the EBA ribbon, and the add-in will generate a valid XBRL document for submission, which you can save as required.

Generate EBA XBRL

View Existing EBA XBRL in Excel

The EBA XBRL Add-in for Excel also makes it easy to view and/or edit existing XBRL reports, directly in Excel. Click the Import from XBRL button to open an EBA XBRL document in the same easy-to-understand template.

Try it Now

The EBA XBRL Add-in for Excel is available for a free, 30-day trial. Simply download and install the software, and when you open Excel the newly installed EBA ribbon will allow you to request a free trial keycode via the Add-in Activation button.

Tags: , ,