Who can use this feature
Roles: Owner, Admin, Staff, and an option in custom roles
Plans: Available with the AI Data review add-on or included on Scale
About Data Quality
The Data Quality section of Syft provides you with a health score for the data you have connected to Syft. Your data health score is based on 5 key areas of financial information:
Dates: Lock and sync dates
Lock date: This is the date set in the accounting provider. No changes can be made to the data after the set Lock date. Having this set means reports are more likely to be sent on time, as all data changes have to be made before a certain date.
Last Syft sync: This is the date Syft last updated the data from the Accounting provider.
đĄPro tip
Setting lock dates ensures that your data isnât altered after it has been finalized.
Bank: Unmatched bank transactions and their value
Unmatched refers to transactions that have not been allocated within the Bank Feed (only available for Xero)
Receivables: Long overdue Receivables
Payables: Long overdue Payables (Debt that is 3 or 4 months old should be written off as it is unlikely that it will be recovered)
Duplicates: duplicate contacts and transactions
The data health score is based on the number of criteria targets you have achieved, which are weighted by assigning a low, medium, high, or critical importance level to the criteria. You can edit the importance of a target by following the steps below:
The data health score acts as a quick snapshot. It helps you to you monitor your bank transactions, overdue payables, and receivables. It also ensures that your accounts are correctly classified before you begin reporting.
About Anomalies Quality
The second tab in Data Quality is Anomalies. This section works similarly to Data Quality, except that the score is based off anomalies that have been identified in your data across the following arenas:
Balances
Credits or debits
Classification
You have the option to add new criteria as follows:
Remember to set a target value for your criteria, a display format and a level of importance as this will impact their score.
About Bank
In the "Bank" sub-tab, you can identify unreconciled transactions per account and view materiality by volume or value. You can also click on any account or number to drill down into the underlying transactions. Navigate to "Review" > Bank."
Unreconciled refers to transactions within your Bank Account (General Ledger account). In your accounting provider, you need to reconcile your transactions before they will filter into your reports. This is to ensure that the transaction is correct.
đ Note
For Xero, unreconciled transactions for bank accounts are pulled from the âAccount transactionsâ tab with the status âUnreconciled.â
The number of transactions on the drill-down may not match the number on the dashboard, as the drill-down does not show unreconciled transfers between bank accounts. Transactions that are unmatched or unreconciled are for all time; there is no limit to how far back we can go.