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Chart of Account Status Updates

Keep on top of changes in your accounting system by easily identifying the status of accounts in your Chart of Accounts.

Updated over 3 months ago

This feature is included with Fathom Pro - the plan with access to all of Fathom's features. Companies on Portfolio can be upgraded to Fathom Pro at any time.

Chart of Account Status

You can quickly identify the status of an account using the small coloured indicator. A description of the status will show when hovering over this indicator.
There are 4 different types of account status.

  1. New Account - this account has recently been added in the source accounting system. An account will have a 'New' designation for 3 months once it has been added.

  2. Updated Account - this account has recently changed in the source accounting system. For example, the account name or account type/classification has been updated. An account will have an 'Updated' designation for 3 months once it has been updated.

  3. Archived Account - this account is listed as 'archived' or 'inactive' in the source accounting system. By default, archived accounts will not be shown in your financial reports and Excel reports.

  4. Reclassify Account Warning - Fathom recognises that this account's classification is unusual. On the Profit & Loss, this status will appear when an 'Income' account has been classified as an 'Expense', or vice-versa. On the Balance Sheet, this status will appear when accounts are reclassified between Assets, Liabilities and Equity.

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