eFINForms XBRL Software for FERC Order 859 (Docket RM19-12)

FERC Filing Commission Forms (RM19-12, Order 859)
The Federal Energy Regulatory Commission (FERC) is revising the electronic filing format for FERC Forms to make it easier for filers to submit and data users to analyze information.
 
The rule adopts eXtensible Business Reporting Language (XBRL) format
 
Systrends is developing software for the new FERC FORMS XBRL requirement to submit the following forms:
  • Form 1, 1-F, 3-Q, and 714 for Electric industry
  • Form 2, 2A and 3Q for Gas
  • Form 6 and 6-Q for Oil.
  • Form 60 for Service Companies

Some features of Systrends eFINForms software include: 

  • It generates Forms 1, 1F, 2, 2A, 3Q, 6, 6Q, 60 and 714
  • It will have all previous years filings from FERC
  • Performs the tagging to the taxonomy simply by uploading data – Users will not need to interact with the Taxonomy or XBRL (all done by the software)
  • Calculates column totals automatically
  • Has a built in multi-level approval process
  • Creates the necessary footnotes for any cell in the form
  • Manages data and the filing from beginning to end with out the manual entry process required in the current Fox Pro application..
  • Contains built in validations not only at the schedule level but for the entire XBRL to ensure you have a FERC compliant form submission. 
  • Easy-to- use application that uploads excel spreadsheets and Word documents
  • Contains a bulk upload feature for line item schedules or mapping data to multiple cells throughout all the schedules at once.
  • Will roll-forward filings and populate previous years/quarters data to the next filing (populates data to the “previous year” column)
  • Is Multi-User and Multi-Company capable
  • User role permissions for different level access
 
 
Systrends XBRL software is a web-based enterprise application that will allow you to manage your financial data and Form Submission from beginning to end. It will generate the XBRL with all the tagging to the taxonomy and submit directly to FERC
 
The anticipated completion of our application will be dependent on the release of the final Taxonomy by FERC which is proposed to be available April 15, 2021.
 
We provide demonstrations of the product, so contact us if you are interested.
 
FERC is starting XBRL Format submission with Third Quarter 2021.  Form Filers should continue to use Fox Pro through Q2 2021.  All 3-Q Submission are due by December 31, 2021 in the new format.
 
Email eFINForms@systrends.com for more information