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.

Multi-currency Consolidated Groups

In addition to standard consolidated reporting, Fathom enables consolidated group analysis, forecasting, and reporting for entities with different currencies. Please view this article for a full list of supported currencies. These features enable you to create an aggregated view of both the financial and non-financial performance of a group of companies.

For multi-currency consolidations in Fathom, you’re able to:

Combine up to 50 companies in a single consolidated group
Consolidate financial (and/or non-financial) performance
Consolidate companies using different accounting systems
Report using either a consistent or inconsistent chart of accounts

📝Note: Multi-currency consolidations can only be created from underlying companies with monthly financial data. Companies with quarterly or annual data only cannot be added to multi-currency consolidations.

Methodology

Fathom will consolidate financial results by unifying accounts that have:

The same name and
The same Fathom classification.

Accounts from different companies that have these two elements in common will appear as a single account in the consolidated group, and any associated amounts will be summed accordingly. Fathom does not consolidate accounts based on Account Code.

Accounts with different names or classifications can be grouped in the Chart of Accounts with the use of headings. For a guide to creating headings, see our Headings and Subheadings article.

Exchange Rates

Fathom sources our default historical exchange rates from Open Exchange Rates. Fathom uses an inter-bank (without retail fluctuations), mid-market (average of buy/sell rates) rate, which is calculated end-of-day using an average of rates from the preceding day.

For monthly data, Fathom uses the average exchange rate over the month to translate the Profit & Loss accounts. Fathom uses the month-end exchange rate for translating Balance Sheet accounts.

Please see our 'Multi-currency Consolidation Methodology' article, to learn more about our methodology for applying exchange rates and calculating values in multi-currency consolidations.

You can also add your own custom exchange rates. For more information on this, view our dedicated article on 'Using Exchange Rates in Fathom'.

Create a multi-currency consolidated group

Before you create a consolidated group, you must first ensure that you have imported each entity into Fathom. After all companies are imported, you can create a consolidated group by:

💡Smart Tip: If you're an Advisor or Admin-level user on a Fathom account, you can follow and complete the Consolidation Checklist steps within Fathom. Launch the Consolidation Checklist

On the ‘My Companies’ screen, click the green ‘Add' button in the upper right corner
From the menu that appears, select ‘Consolidated group’
Type in the name of the group
Select the companies to include in the consolidation
Choose a date range for the group financials

❗ Notice: Be sure to include all of the prior year data you need for financial analysis, reporting and forecasting for the group. You will not be able to add financial data prior to the date range you select after creating the consolidated group.
Choose the presentation currency for the group. This is the currency that will display for analysis, forecast, and reports for the group. You can see our ‘Supported Currencies’ article for a full list of the support currencies in Fathom.
If the chosen companies operate using different financial years, you will need to choose the first month of the financial year to use for the group.
Once you are ready, click 'Create Group'

You will be taken to the consolidated group’s landing page. From here, you’ll be able to access the group’s Analysis, Reporting, Forecasting, and Settings as well as the Analysis, Reporting, Forecasting, and Settings for all of the underlying companies in the group.

💡Smart Tip: If you've set up the Chart of Accounts, KPI, Targets, and Alerts in another company or group, you can copy these over to quickly set up your new consolidated group.

Finish setting up your consolidated group

Update & edit a group

Update the Group’s Financials

Please see our Updating a Consolidated Group article.

Add companies to or remove them from the group

You can add companies to or remove them from a group on the consolidated’s group’s landing page. To add a company, select the green ‘+ Add company’ option. To remove a company, hover over the company and select the ‘three dot’ icon that appears on the right side of the screen. From the drop down menu, select ‘Remove’.

You can also add companies to and remove them from the group in the ‘Update Data’ section of the group’s Settings. You’ll find the options to add and remove companies by clicking the blue ‘manage group’ option that appears next to the list of member companies in the group.

📝 Note: You must have more than 2 companies in a group to be able to remove a company from the group.

Change the name of the group

In the upper left corner of the consolidated group’s landing page, you’ll see the name of the group listed. You can click on the group’s name to edit or type in a new name for the group.

Change the financial year of the group or the presentation currency

To change the financial year or presentation currency of a group, go to the group’s Settings. In ‘Update Data’:

Select the blue ‘manage group’ option next to the list of member companies in the group
To change the presentation currency, scroll down to where it says ‘Select the presentation currency’. From the drop down menu, choose the currency you want to use to display the group’s analysis, forecast, and reports.
To change the financial year, scroll down to where it says ‘Select the start of financial year’. This option will only appear when companies in the group have different financial years. If you need to change the financial year for an underlying company in the group, see our ‘Managing date ranges and your financial year’ article.

Next steps

Congratulations on creating your consolidated group! Continue the 'Consolidation Creation Workflow' and finish setting up your consolidated group for analysis, reporting, and forecasting by choosing from one of the next steps below:

What you want to do:	Next step in the setup process:
Ready to begin setting up your Consolidated Group's Profile?	Setup your Consolidated Group Profile
Happy with your profile and ready to set up the consolidated Chart of Accounts?	Customise the Consolidated Chart of Accounts

Learn more

Create a Multi Currency Consolidation