The moment has finally arrived! After listening to the feedback of hundreds of Syft customers, we've completely overhauled our old budgeting feature and replaced it with something brand-new. Meet Budgets V2 - everything you want in your Syft budget from a simple and intuitive interface to complex customizations.
What's new 🧐
Forget what's new – a more appropriate question in this case would be what isn't new. You can now enjoy:
A sleeker, more intuitive interface
Enhanced support for working capital management and credit sales
Easier ways to adjust your budget according to potential events - with the option to add multiple adjustments per account
These enhancements will give you more visibility of your adjustments, more tailored adjustments, and more customizable setup options.
Get started 🚀
We've added a new button called "Planning" to the sidebar, where you'll find both Budgets and Forecasts. From here, you can create a new budget, choosing from a variety of period configurations:
Monthly: for up to 10 years
Weekly: for up to 52 weeks
Annual: for up to 10 years
You can then populate your budget, adding percentage changes over time. And, if you want to create a budget for a specific branch or revenue stream within your organization, you can filter for divisions.
Pro Tip 💡: Use the Advanced options menu to specify details regarding your credit/cash setup or customize the percentage changes of specific profit or loss categories in your budget.
Population options 🔨
The sky is the limit with Budgets. You can choose to populate your budget exactly as you see fit, using the following options:
Prior last year (add a percentage change): this uses the values from the same period in the prior year (so, if you are in August 2025, this will mean August 2024) as a base while increasing/decreasing them by a percentage of your choice
Prior (add a percentage change): this uses the values from the prior period (so, if you are in August 2025, this will mean July 2025) as a base while increasing/decreasing them by a percentage of your choice
Zeros: this populates the whole budget with zero (0) values
What's included in the budget? 👀
Your budget is built across several financial statements and reports. The reports differ, depending on your plan. However, if you are on the Advanced plan, you will have access to all of the following:
The Profit & Loss
The Balance Sheet
KPI Scorecards
Connections
If you’d like to find out which reports are included in your plan, please reach out to your account manager.
You can then add Events to account for potential scenarios that could take place over the budgeted period.
Pro Tip 💡: Events can be as simple or advanced as you'd like with the option to use quick-and-easy prebuilt events or create your own custom events.
Gain better insights with clear visualizations 📊
Your actual vs. budget figures are visualized in two graphs on the new Summary page, where you can see a high-level overview of key metrics, trends, and insights drawn from your budget data.
What's more, you can customize the accounts to add to your account watch list so that you focus on your most vital accounts. For instance, if you're worried about your electricity usage, you can select electricity as one of the accounts in the summary view. That way, you can easily ensure you don’t overspend on electricity.
You can also highlight changes and show variance between budgeted features and actuals across the various tables in the budget, making it easy to see exactly how your business is faring compared to how you expected to fare.
Closing thoughts 💭
This is just the tip of the iceberg where Budgets are concerned on Syft. For more details on how to create a budget and make the most of all the new elements of this feature, please read our help article here.
We know how important budgeting is to all businesses, and your feedback has informed our development of this new feature every step of the way. Thank you to everyone who provided feedback on Budgets V1. We hope you will enjoy V2 - and let us know your thoughts.