Who can use this feature
Roles: Owner, Admin, Staff, and an option in custom roles
Plans: Available on Plus and Advanced
About Data Quality
The Data Quality section of Syft provides you with a health score for the data you have connected to Syft. This based off the following five metrics:
Bank: unreconciled transactions & their value
Accounts: duplicate accounts, accounts with no activity, accounts with inverted balances, variances from average movement value, variances from average transaction volume
Contacts: duplicate contacts, contacts with no activity, contacts assigned to multiple accounts, and contacts assigned to multiple tax codes
Transactions: duplicate transactions, transactions with unusual descriptions, transactions with inverted values, potential misclassification of expenses/assets, transactions outside business hours, back dated transactions, future dated transactions, manual journals, and credit notes
Tax: tax review overview, tax review account defaults, tax review differences in accounts
Customizable header cards
At the top of the screen, you will see header cards. By default, these cards will be blank. However you can edit them to highlight specific accounts or transactions to which you may want to pay closer attention. You can also pin any card you want to see to the top or remove irrelevant cards.
Columns
By default, you'll see the following columns in the table:
Identified - anomalies or potential issues identified
Reviewed - the number of those identified that you have reviewed
Progress - the percentage of items reviewed
However, you can also add a column for importance to rank any of those items as less or more important. And you can add a column for people to allocate certain team members to those items.
💡Pro Tip:
As was the case previously, you can always delete rows that you deem irrelevant. However, if you find you've made an error in deletion, don't worry! You can just click the "Reset" button to return the table to its default setting.
Keep track of your review progress
One of the greatest new additions to the Data Quality tab is the ability to track your progress with the Progress column. Here, you can see what percentage of anomalies or data issues have been reviewed and it changes from red to orange to green to visually show your progress.
Pro tips
What else can you do in Data Quality? Here are a few tips and tricks:
Hide columns: Don't want to see one of your added columns but don't want to delete it? You can hide it by clicking on the eye icon. Just a note that this is only an option for people and importance columns, not your default columns.
Set importance: The importance column comes with drop-down options for color-coded levels of importance from low to critical.
Select the month: You can choose which month to show and you'll see data for the prior 12 months.
Add comments: If you hover over a row in the column, you will see a little square, which gives you the option to add a comment.
Report on your data quality: Last, but certainly not least, you can add this data quality table to a report pack.
The data health score acts as a quick snapshot. It helps you to you monitor your accounts and transactions for duplicates or other anomalies. It also ensures that your accounts are correctly classified before you begin reporting.
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.
📓 Note
For Xero, unreconciled transactions for bank accounts are pulled from the “Account transactions” tab with the status “Unreconciled.”
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.