ACRA has released the latest versions (version 3.3) of the BizFinx preparation tool and multi upload tool. Companies are required to prepare, validate and upload their financial statements in XBRL format using the latest version from 1 October 2021.
The updated tool include the following improvements:
- Software updates from Microsoft;
- New guidance notes for “Income Statement”, “Note – Property, Plant and Equipment” and “Note – Intangible Assets” to facilitate your completion;
- Re-categorisation of business rule - Misc_212 from genuine error to possible error, as some companies may have zero revenue.
If you have installed the older version in your computer, you can update the software as follows:
- Connect your computer to the Internet;
- Launch the BizFinx preparation tool. The message “Update for BizFinx preparation tool is available” will be displayed;
- Click "Ok" and the website link will be displayed (or Download BizFinx preparation tool here); and
- Click "Download" to install the latest versions of the tools.
To facilitate your transition, all Excel / XBRL.zip files prepared using the older version of the BizFinx preparation tool can be opened and edited in the latest version without any loss of data.