Tired of spending hours configuring the layouts of your P&L and Balance Sheet so that they meet industry requirements? Meet our new layout generator, a plug 'n play tool that generates industry-specific layouts in seconds, all powered by machine learning.
With the new layout generator, you can choose from a range of industry templates, easily duplicate layouts from other entities, or build a layout from the ground up. Let's see how this works!
The all new layout generator
When you click on Layouts, you will be prompted to select one of three layout configuration options, namely:
- Use an industry template;
- Import a layout from another entity; or
- Start from scratch.
Let's examine each of these in some detail.
From retail to non-profits, tech to agriculture, we have prebuilt templates for a wide range of industries. Once you select the relevant industry template, Syft's machine learning engine will automatically map your accounts to categories.
Simply click on this option and browse templates. Whether you are in the retail industry, hospitality, education, real estate, energy... We've got you covered. Click on "Use template" and voila! Your layout has been built.
Import a layout from another entity
If you already have a layout that you've set up for another entity that you would like to use for a new entity, you can do this with ease. Simply select this option and Syft will import all your categories, groups, headings and equations into the new layout.
Note: Please review equations and confirm that they reference the intended accounts for your new layout.
Once you select this option, you will be prompted to select the entity whose custom layout you would like to import. Then, Syft will deploy its machine learning capabilities to do the rest.
Start from scratch 🔨
The last layout option you have is to build a layout from scratch. This entails creating the relevant categories, groups, headings, and equations, and moving accounts around so that they are in the correct places. You can also rename anything.
Simply select the accounts you would like to move or rename, click on "Add" to add new categories, equations, or headings, and open your options to modify these.
Pro Tip: Once you have created a new layout, don't forget to click "Save" and to give the layout a name!
With the new layout options, setting up your financial statements should be much less of a hassle. Why not give it a go?