Over the past few months, we've been expanding the availability of layout editing across Syft to make it easier for you to set up your accounts exactly as you need them for each report without having to traverse the whole of Syft.
Less clicks, less time, more value.
Our latest update gives you the ability to apply conditional formatting to Ledgers and to alter your Chart of Account Classifications and add transaction tags within the Ledgers feature itself. Read on for all the details.
Zooming in on Ledgers 🔎
Just as a reminder, the Build Mode in Ledgers works the same way as in Build P&L and Build BS. You can switch from View Mode (the eye icon) to Build Mode (the hammer icon) to select specific accounts to create groups or categories as you see fit. You can also add a source to your Ledger from here.
What's new? 🧐
Firstly, you now have the ability to add Chart of Account Classifications and transaction tags as sources, making Ledgers even more flexible and customizable.
And, perhaps most exciting, you can now apply conditional formatting to your Ledgers to identify significant values at a glance!
Conditional formatting 101 💡
Just as you can use conditional formatting in Excel, so too can you in Syft's Ledgers feature. Simply navigate to Build Ledgers and click the ellipsis (...) to open the formatting options. From there, you can use different colors and icons to highlight significant information in the table.
For instance, you might want to add a red flag to every line item where an expense is above 0 or add a green flag to every line item where revenue is above 1,000.
Another use case would be highlighting negative variances in red and positive variances in green. This draws attention to notable variances, which you can then drill down into to see what caused these large variances.
Conditional formatting can be applied to all sorts of data, from accounts and group totals to equations, connections, customer and product information, to COA classifications, and tags!
Chart of Account source type 💫
The new COA source type brings in the total of any account from your underlying provider. So, you can quickly see if your totals in your Ledger match your COA totals. This is useful if you've added a new account to your underlying accounting software but have not updated it on your Ledger or if you'd like to bring in total lines.
For instance, if you are creating a Ledger that focuses on your fixed expenses vs. variable expenses and you only need to work with the total amounts for those, you can bring these through directly from your provider.
Closing thoughts 💭
Ledgers keep getting better – more flexible, more powerful, and much easier to build! If you haven't used Ledgers in a while, log in and take a look at these new changes and let us know what you think.