XBRL, eXtensible Business Reporting Language, is a standardised language for information exchange globally. The aim is to find a uniform language which enables efficient and reliable information sharing. XBRL language contains chart and payment codes, which make information flow, communication and data follow-up for companies as automated as possible.

The objects of this study were Oulun Autokuljetus Ltd. account registry and XBRL chart coding possibilities for this company. The company is a corporation established in 1946. The company´s field of business incorporates cargo transport, terminal and warehousing services, land and water construction as well as other services related to these businesses. The main function of Oulun Autokuljetus Ltd.’s is to provide transport services for company’s associate partners.

A qualitative desk research method was used to gather data. The source material consists of company’s current charts of accounts and translations of them into XBRL chart codes. The aim was to study the future possibilities to utilize the electronic payment code registry which is still under preparation. The result of study was new information about the electronic financial reporting system and its benefits.

In 1997, Finnish Accounting Act made it possible to move into electronic financial management system. The Internet based systems for payment have quickly became common, and uniform standards enable a rapid traffic between banking systems. The expansion of the electronic model to other fields, such as standardised electronic reporting between companies, has been slower than expected. The lack of suitable financial management systems and compatibility between companies has made the development a bit complicated.

The XBRL developers have still many questions to solve in payment coding. However, the coding system is beneficial and necessary. It will be interesting to see how the electronic financial reporting system based on the reporting codes will be applied in practice. The investors are also expecting consistent and real-time reporting of financial information, in order to make the investment decisions easier.