Key Validation Requirements of Tagging Tool - Tax Computation & Financial Statements

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In this video, we shall walk you through the key validation requirements of the IRD iXBRL Data Preparation Tools. This video will focus on the Tagging Tool.

Users should perform validation for both financial statements and tax computation by clicking the “Validate” button on the top panel. If no error is found, a pop-up message “Validation is passed.” will be prompted. Otherwise, a “Validation Results” panel showing the list of errors will be displayed.

Now, we will show you the validation requirements in the Tagging Tool.

Error 1:	(a)	If the value of “Assessable profits (Adjusted loss) of the period in Hong Kong dollar” exceeds 14 digits, an error message will be displayed.
	(b)	Click “View All” under the Action column to locate the respective error.
	(c)	Users have to check if any incorrect figures are tagged and rectify the error.
Error 2:	(a)	If “Assessable profits (Adjusted loss) of the period in Hong Kong dollar” is provided and tagged but the unit attribute is not in HKD, an error message will be displayed.
	(b)	Click “View All” under the Action column to locate the respective error.
	(c)	Users have to right click the tagged item, select “Edit Tag Attribute” and check the unit attribute.
	(d)	To rectify this error, users have to provide and tag at least one “Assessable profits (Adjusted loss) of the period in Hong Kong dollar” with unit attribute in HKD.
Error 3:	(a)	Where the same fact has been tagged more than once and the values tagged are inconsistent, an error message will be displayed.
	(b)	To pass this validation, click “View Details” under the Action column, then click “Next” to locate and rectify the errors.
	(c)	Click “Next” again to locate the next error. Please make sure consistent values have been tagged for the same fact.
Error 4:	(a)	Users have to tag all mandatory items as required in the List of Mandatory Items. If mandatory items are not tagged, an error message will be displayed.
	(b)	Click “View Details” under the Action column to view the missing mandatory items and their handling status. The status “Pending for action” indicates that the mandatory items have not been tagged by users. The status “Handled by user” indicates that the mandatory items have been tagged by users.
	(c)	Users have to tag the relevant values of the mandatory items to rectify the errors.
	(d)	In cases where the identified mandatory items are not applicable, users can either set items as “0” by ticking each relevant preferred label or by ticking the box “Select All” to set all missing items as “0”.
	(e)	Click “Confirm zero” to confirm the missing mandatory items as “0”.
	(f)	A pop-up box will appear. Click “Yes” to proceed. The status of the selected items will be changed to “Set zero”. If the status of all mandatory items are either “Set zero” or “Handled by user”, then this error has been rectified.
Error 5:	(a)	If other validation errors are found, for example, where “Service income” is not zero but “Service fee received details” is not tagged, an error message will be displayed.
	(b)	Click “View Details” under the Action column, then click “Next” to locate and rectify the errors.
	(c)	Please provide and tag both the value and details for the relevant items.

Depending on the type of validation errors, users should click the “View All” or “View Details” to review and rectify errors. If all errors have been rectified, a pop-up message “Validation is passed.” will be prompted.

We have now come to the end of the video. For further guidance of the Tools, please refer to the User Guide in the link shown.