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Import your Budget from Excel

Import your Budget from Excel

Upload & update your budget data in Fathom via Excel
James Lin avatar
Written by James Lin
Updated over a week ago

Content:

Importing a budget from Excel

You can choose to import a budget from your source accounting system (Xero, QuickBooks Online, QuickBooks Online Advanced, MYOB AccountRight Live).

Alternatively, you can import your budget data from Excel (.xlsx or .csv) at any time. This is useful if you use other forecasting tools for creating your budgets, or if you are importing your financial data from Excel, QuickBooks Desktop, or MYOB AccountRight.

❗Note: Fathom only allows one budget to be imported for a company at a single time.

Adding a budget to your company via Excel

You can import an Excel budget for your company by selecting the ‘Settings’ for the company on the ‘My Companies’ page.

  1. In ‘Step 1 - Update Data’ of the company’s Settings, scroll down to the ‘Budgets’ section

  2. Select the ‘+Add a budget’ option. If you already have a budget imported into Fathom from your source accounting system or your Fathom forecast, then you’ll need to remove that budget before being able to select the ‘+Add a budget’ option.

  3. Choose ‘Excel’

  4. Select ‘Add’

  5. In the following screen, you’ll see our import guidelines for importing from Excel. We recommend downloading our detailed Import Guidelines which provide step-by-step instructions on creating your Excel file.

  6. To download an import template, select the option to download an ‘example import file’. You can open this in Excel and enable editing to enter in your accounts and values.

    💡Pro 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.

  7. Once you’ve created your budget import file in Excel, return to Fathom.


    ❗ Note: You'll need to ensure that the budget is contained in the first worksheet of the spreadsheet for the import to be successful.

  8. Select the option to ‘Choose a file to upload’

  9. Then, select your budget import file

The budget should now be added to your company from Excel.

💡Pro Tip: You’re also able to save the forecast you create in Fathom as your company’s budget. View the following help article for more detail onsaving your forecast as your company’s budget.

Updating or replacing your Excel budget

To update an Excel budget in Fathom, you’ll need to re-import the Excel file. To do this:

  1. Go to ‘Step 1 - Update Data’ of the company’s Settings

  2. In the ‘Budgets’ section, select the option to ‘Update from Excel’

  3. You can download a blank import template or download an import template that includes the existing budget data

  4. Once you’ve created or updated your Excel budget file, select the ‘Choose a file to upload’ option

  5. Select your Excel file with the updated budget

💡Pro Tip: 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.

Next Steps

Congratulations on importing your budget into Fathom! Finish setting up your company for analysis, reporting, and forecasting by choosing from the options below:

What you want to do:

Next step in process:

Ready to set up your company profile and import your company logo into Fathom?

Set up your Company Profile

Happy with your company profile and want to check and customise your Chart of Accounts?

Customise your Chart of Accounts

Happy with your Chart of Accounts and ready to set up KPIs to track the performance of your company?

Set up 'Key Performance Indicators'

Additional knowledge & common questions:

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