What is the difference between traditional system and XBRL GL database?
Traditional
- ERPs are Closed system (processes/modules are connected and cannot be replaced)
Future:
- purchase invoices/purchase orders, sales invoices, bank accounts are structured (XML)
- standard interface
- approval process (validation)
- xml files is entered into one database - just files in XBRL GL taxonomy
- date, docuemnt type, number, description, measurable code description, masure quantity, measurable unit of measure, tax amount, tax percenteage rate, amount, account main id, reporting code
- individual applications - for sales, purchases, ... replacable
Benefit: real-time is dayly and not one month and a half.