Fathom integrates directly with the data from your source accounting system. If the results in Fathom aren't tying back to your accounting data, there are a few steps you can take to troubleshoot this.
1. Update your Company Data
The first step is to check that Fathom has been updated to include your most recent accounting data.
To do so, proceed to 'Step 1 - Update Data' in your company settings.
Click 'Update from Xero/QuickBooks/MYOB' and select the most recent period. This will bring through any changes that have been made to your source accounting system.
Ensure that you have selected the checkbox to 'Automatically update every day'. This automatic update will take place during the night to keep your data in Fathom up to date.
❗Note: If you have made recent changes to your data, you will still have to trigger a manual update by following the steps described above to have those changes carry over immediately.
2. Review Adjustments
If adjustments have been made to your actuals in Fathom, then they will not match with your source accounting system. To see if any adjustments have been made, go to 'Step 1 - Update Data' of the company's Settings and scroll down to the 'Adjustments' section.
If you have made any adjustments that need to be removed, you can delete them here.
You may see adjustments that you cannot delete. These are auto-adjustments for income tax that Fathom as part of the company's forecast. If you would like to remove these adjustments, then you can turn off auto-adjustments in forecasting. For more information on how to do this, please review this article.
3. Review the Chart of Accounts
Fathom assigns a primary and sub-classification to each account. This allows Fathom to recognise what kind of account it is, and forms the basis for how the account is treated in calculations.
The account classifications can be changed by hovering over an account and clicking the green 'Reclassify' button. View the classification guidelines to see a detailed explanation about each account classification.
❗ Note: Reclassifying accounts is not available for a consolidated group. You will need to reclassify the accounts in the underlying companies, and then update the consolidated group to reflect these changes.
4. Cash vs Accrual Method
The third step to troubleshoot differences in results between Fathom and your accounting system is to ensure you are viewing your data consistently on a cash or accrual basis.
Fathom will automatically pull in data based on the accounting method specified for your organisation in your accounting system.
Example: You’ve set up the company as 'Accrual' method in your accounting system, but you are viewing the Profit and Loss in the 'Cash' method. Fathom will pull in the accrual data, but you will be comparing it to the cash accounting method Profit and Loss.
You can see which accounting method Fathom is using in 'Step 2 - Company Profile' of the company's Settings.
When a company is sourced from QuickBooks, all of the reports that we receive are formatted with respect to the company settings (Cash or Accrual) in Quickbooks.
You can change the method from Cash to Accrual, or vice versa, by going to the company settings in QuickBooks and heading to the 'Accounting Method' property.
Learn more about changing the accounting method in QuickBooks by reading this article.
For Xero sourced companies, the accounting method Fathom uses can be changed within Fathom in 'Step 2 - Company Profile' of the Settings. Learn more about changing the Fathom accounting method for Xero based companies by reading this article.
If you are still experiencing discrepancies in your results between Fathom and your accounting system, please contact Fathom support at firstname.lastname@example.org.
To help us resolve the issue as fast as possible, please send through two reports:
The 'Financial Results' Fathom excel report. To find this, proceed to 'Reports > Excel reports > Financial results'. Select to show the 'Most Detailed' results.
A corresponding report from your accounting source data.