One of the most beloved elements of Syft is its ability to create fully customized and customizable reports either in Build P&L and Balance Sheet or in the Ledgers tool. And today, these features have become even more powerful!
What's the deal with Builds & Ledgers, again? 🧐
If you're new to Syft or haven't dealt much with Build reports and Ledgers, let me catch you up quickly. Simply put, a Build P&L, Balance Sheet, or Ledger is a customized statement with highly editable columns and data types.
The columns you include can contain actual historic financial data, budgeted data, forecasted data, equations, notes, or journals. And we've just introduced some new options to give you even more flexibility!
What's new? ✨
We've recently added a new column type to Build P&L, Build Balance Sheet, and Ledgers to improve the ease with which you build these custom reports on Syft. If you start adding new columns, you'll see three new template options:
Rolling average: This will insert an actuals column alongside a formula column that averages the actuals.
Quick forecast next period: This inserts 1 actuals column and 1 formula column, each growing by a specified percentage.
Quick forecast for the financial year: This will insert monthly financial year-to-date data, followed by a formula column, which is a linear extrapolation of the average of the actuals that predicts the total of the remaining periods. Lastly, a formula column will be added to sum the actuals and forecasted data to give a FY total value.
When you select the rolling average or quick forecast for the next period templates, you can choose between monthly, quarterly, and weekly period options, as well as the number of periods to show and the percentage, if applicable.
Note 📝: The special formulas used in some of the formula columns that are generated cannot be edited in the column formula editor.
Why we love this 💙
These new templates will save you a lot of time in building reports that calculate rolling averages and quick forecasts, so you can reinvest this time in interpreting these reports. I hope you'll enjoy these new features and use them to build your reports and ledgers exactly as you want them.