Fathom has classifications and sub-classifications for accounts. For example, Expense is a classification, while Variable Expenses and Fixed Expenses are both sub-classifications.
Account classifications determine how Fathom calculates financial totals and sub-totals.
When you import financials from Excel, you'll need to designate the classification code for each account. The classification code is a three or four-letter code. For example, REV is the classification code for Revenue.
Fathom does its best to map accounts to the correct classification when importing financial data from a non-Excel source accounting system. For companies on a Fathom Pro plan, you can re-classify accounts on the Chart of Accounts in Fathom.
The account classifications that underpin financial results and KPI analysis in Fathom are:
Profit & Loss
REVENUE
Revenue (REV)
Income from normal business operations (excluding abnormal income and interest)
COST OF SALES
Variable COS (VCOS)
Variable costs that increase or decrease closely in proportion to revenue
Fixed COS (FCOS)
Fixed costs that do not vary directly in proportion to revenue
Depreciation (DEP)
Costs for which no cash was paid
EXPENSES
Variable Expenses (VEXP)
Expenses that increase or decrease closely in proportion to revenue
Fixed Expenses (FEXP)
Expenses that do not vary directly in proportion to revenue
Depreciation & Amortisation (DA)
Expenses for which no cash was paid
OTHER INCOME
Interest Income (IINC)
Interest from investments
Other Income (AINC)
Abnormal income (ie. FX gains, rental income, profit from the sale of fixed assets)
OTHER EXPENSES
Interest Expenses (IEXP)
Payments for borrowings (for short term and long term debt)
Tax Expenses (TEXP)
Profits paid to the taxation authorities
Dividends (DIV)
Profits paid to the shareholders
Adjustments (ADJ)
Other adjustments to retained earnings
Other Expenses (OEXP)
Miscellaneous expenses
Balance Sheet
CURRENT ASSETS
Cash & Equivalents (CASH)
Cash and liquid investments which can easily be converted into cash
Accounts Receivable (AR)
Amounts due from customers for products and services provided on credit
Inventory (INV)
Raw materials and finished goods
Work in Progress (WIP)
Goods and/or services that are works in process
Other Current Assets (OCA)
All other short-term assets (ie. prepayments)
NON-CURRENT ASSETS
Fixed Assets (FA)
The value of fixed assets (ie land, buildings, plant and equip) less accum. depreciation
Intangible Assets (IA)
Assets which do not have a physcial presence (ie goodwill, patents, licenses)
Investments & Other NCA (ONCA)
All other long-term assets (ie. shares in associated companies)
CURRENT LIABILITIES
Short Term Debt (STD)
Includes overdrafts and interest bearing debt which is due within one year
Accounts Payable (AP)
Amounts owed to suppliers for products and services purchased on credit
Tax Liability (TL)
Income tax that must be paid within one year
Other Current Liabilities (OCL)
All other short-term liabilities (including accruals and other tax liabilities)
NON-CURRENT LIABILITIES
Long Term Debt (LTD)
Interest bearing long-term loans (more than one year)
Deferred Taxes (DTAX)
Future income taxes
Other Non-Current Liabilities (ONCL)
All other long-term liabilities
EQUITY
Retained Earnings (RE)
Amounts retained by the company
Current Earnings (CE)
Current year profits retained by the company
Other Equity (OEQ)
All other forms of equity (ie share capital, capital reserves, minorities