How to Ensure XBRL Accuracy Before Submitting to ACRA

Ensuring XBRL accuracy before submission is one of the most important steps Singapore SMEs can take to avoid rejected filings, delays, and unnecessary compliance stress. Most XBRL issues are not caused by complex accounting rules, but by inconsistencies and errors that could have been addressed earlier.

Here’s how SMEs can improve accuracy and submit XBRL filings to ACRA with confidence.

Start With Finalised, Consistent Financial Statements

XBRL should always be prepared from finalised financial statements, not draft numbers. Any last-minute changes after XBRL tagging increase the risk of mismatches and validation errors.

Before converting to XBRL, ensure that:

• All statements are complete and approved
• Figures reconcile across reports
• Adjustments are fully documented

Accuracy at this stage reduces rework later.

Check Account Mapping Against ACRA’s Taxonomy

XBRL accuracy depends heavily on correct tagging. Each line item must be mapped to the appropriate element in ACRA’s taxonomy.

Common mapping issues include:

• Using overly generic tags
• Mapping similar accounts inconsistently
• Selecting incorrect classifications for income or expenses

Review mappings carefully to ensure they reflect the economic substance of each account.

Verify Totals, Subtotals, and Cross-Checks

Many XBRL errors arise from arithmetic or structural inconsistencies.

Before submission, verify that:

• Totals and subtotals add up correctly
• Balance sheet balances tie to changes in equity
• Cash flow figures align with supporting data

These cross-checks help avoid system validation failures.

Complete Required Notes and Disclosures

XBRL accuracy isn’t limited to headline figures. Certain notes and disclosures must also be tagged correctly.

Ensure that:

• Mandatory disclosures are included
• Notes align with financial statement figures
• No required fields are left blank

Incomplete disclosures can cause submissions to be rejected even when main statements appear accurate.

Run Validation Checks Before Submission

Always run ACRA’s validation checks before final submission. These checks highlight:

• Missing fields
• Structural errors
• Inconsistencies across statements

Addressing issues at this stage is far easier than correcting rejected filings later.

Reduce Errors With Better Upstream Data

The most reliable way to ensure XBRL accuracy is to improve the quality of financial data throughout the year.

SMEs using AI-powered bookkeeping platforms like ccMonet benefit from:

• Consistent transaction categorization
• Automated reconciliation
• Reduced manual data handling
• Early detection of anomalies
• AI and expert review for accuracy

Clean, structured records make accurate XBRL preparation far more achievable.

Accuracy Comes From Preparation, Not Last-Minute Fixes

Ensuring XBRL accuracy isn’t about working harder right before submission — it’s about building reliable financial processes that support compliance naturally.

When financial data is accurate, consistent, and well-structured, XBRL becomes a technical step — not a stressful risk.

👉 Learn how AI-powered bookkeeping helps Singapore SMEs submit accurate XBRL filings with confidence at ccMonet

‍