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Consolidating Divisions

Consolidating Divisions

Consolidate tracking categories, classes, locations, jobs, or categories from multiple companies in a Fathom account
James Lin avatar
Written by James Lin. Updated over a week ago

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❗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.

  1. Import the parent companies that contain the divisions you would like to consolidate.

  2. Once the parent companies have been imported, ensure you have imported the divisions for the companies. They should be listed next to ‘Tracking’ in ‘Step 1 - Update Data’ of each company’s Settings.

  3. Import each division to be consolidated as a standalone entity within Fathom

  4. Create a consolidated group from the standalone entities

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:

  • Option A: Assign the data to a division in your source accounting system so that it is no longer unclassified or

  • Option B: Create an 'Unclassified' division in your source accounting system (e.g. create an 'Unclassified' class in QuickBooks) and assign all unclassified data to that division. You will then be able to import the 'Unclassified' division as a standalone entity into Fathom and include it in the consolidated group. Or

  • Option C: Import the unclassified data into Fathom via Excel as an Excel-based company. You will then be able to include the Excel-based company, made up of the unclassified data, in the consolidated group.

Next steps

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

Setup your Consolidated Group Profile

Set up the consolidated Chart of Accounts

Customise the Consolidated Chart of Accounts

Additional knowledge & common questions:

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