❗Note: Consolidating divisions is an advanced feature of Fathom. If you wish to proceed, each consolidated division will be billable on a monthly basis as a separate entity.
Can you consolidate divisions in Fathom?
Fathom's consolidation features allow you to group multiple entities together, to easily view their combined performance from an overall view.
You can also use these consolidation features with your divisions if you wish to group similar divisions from different companies. Please note that this will require you to import your divisions as separate entities in Fathom.
You are able to consolidate divisions where the parent companies originate from different source accounting systems.
Example: A business operates in 3 locations (single company entities) and each location is comprised of 2 divisions ('Division A - Overhead' & 'Division B - Retail'). The finance team wants to combine all of the Retail divisions into one entity or consolidated group.
❗Note: Consolidating divisions is only available for companies imported from Xero, QuickBooks Online, and MYOB AccountRight Live.
How to consolidate divisions
Use the following workflow to consolidate divisions in Fathom.
What if I have unclassified data?
If you have data that is unclassified, or not assigned to a division in your source accounting system, then you will not be able to import that data as a standalone division to consolidate. To be able the consolidate the unclassified data, there are a few options:
Now that you've consolidated your standalone divisions, continue setting up the consolidated group you've created by choosing from the options below.
What you want to do:
Next step in setup process:
Begin setting up your Consolidated Group's Profile
Set up the consolidated Chart of Accounts