In addition to importing directly from source accounting systems (i.e. Xero, MYOB, Quickbooks Online, QuickBooks Desktop), you can import financial data from Excel (.xlsx or .csv).
Using Excel as your source, you can import financial data for monthly, quarterly, or annual periods. Typically, you would export a monthly Profit and Loss (Income statement) and Balance Sheet report from your accounting system to Excel, and then adjust to conform to our Import Template.
Importing financial data from Excel
To import financial data from Excel, select ‘Add a Company’ in the top right of the My Companies screen.
Then, select to connect to Excel.
Guidelines for importing
In the following screen, we have several options to assist you to create your Excel file.
Under the heading 'Guidelines', we provide a set of key requirements for your Excel import file.
We recommend downloading our Import Guidelines which provide step by step instructions on creating your import file.
You can also download an example import file as a template.
💡Tip: Classifications (Column A) are 3 or 4 letter codes that allow Fathom to determine the type of account. View this article for more information on Account Classifications.
❗Note: Make sure that your initial Excel file contains all periods of historical data that you'd like to use. You cannot change the start date to an earlier period after the initial import without deleting and reimporting the company. We recommend including 5 years of historical data.
Uploading your Excel file
Once you have created your Excel file, you can now upload it to Fathom.
To do so, click 'Choose a file to upload' at the top of the screen to upload a single Excel company.
Upload multiple Excel files
Alternatively, if you have multiple Excel companies that you would like to import into Fathom, click 'Launch the Fathom desktop connector'. This is a small executable file (.exe) ~6mb, which you can use to bulk upload multiple Excel files at a time.
For more information, view our dedicated article on Using the Fathom Desktop Connector.
Updating your financial data from Excel
To add financial data for a recently completed period, you can just supply the new data that you wish to append to the existing financial range. However, many of our customers prefer to build upon a single excel file which contains all periods. This can be easier to manage and allows you to easily make prior period adjustments if required.
Example Import Files
Importing non-financial data
Normally you would import non-financial data from a separate Excel file, but it is possible to combine both your financial and non-financial data into a single excel import file.
You can achieve this by adding 'Custom KPIs' as another column. See this template for an example.