Announcement Details

All companies to use the updated BizFinx preparation tool to file XBRL financial statements wef 1 Sep 2019

1.  Updated BizFinx preparation tool
The updated version (v.2.7.0) of BizFinx preparation tool is now available for download at the BizFinx portal. The key enhancements include:
  • A new option to select “Singapore Financial Reporting Standards (International)" [“SFRS(I)”] under “Type of Accounting Standard Used to Prepare Financial Statements”; and
  • A new feature to validate and upload XBRL file to BizFinx server via API (application programming interface) service, without the need to logon to the BizFinx portal.
To allow transition time, all companies must file their financial statements in XBRL format using this version of the BizFinx preparation tool only with effect from 1 September 2019.
The exceptions are companies that are preparing financial statements using SFRS(I), in which case, they must use this version of the BizFinx preparation tool with immediate effect.
To facilitate transition, the Excel / files that are prepared using older versions of the BizFinx preparation tool can be opened and edited in this version without any loss of data.
To install this updated version of BizFinx preparation tool, please connect to the Internet, launch the BizFinx preparation tool and click “Application Updates” on the introduction page.
2. New BizFinx multi upload tool via API service
To help companies save time in filing financial statements in XBRL format, ACRA has made available a new BizFinx multi upload tool. With this tool, preparers can now concurrently upload multiple XBRL files (prepared using BizFinx preparation tool or other software) to the BizFinx server via API service, without the need to logon to the BizFinx portal.
Multi upload tool is available for download separately at the BizFinx portal.
Please click here for more information on the new multi upload tool.
[This announcement was first published on 16 May 2019.]