❗Note: Adding budgets for divisions is an advanced feature of Fathom. If you wish to proceed, each division with a budget will be billable on a monthly basis as a separate entity.
Fathom enables you to add budgets for divisions from individual organisations. This is useful if you are using other forecasting tools for creating an external budget for your divisions, and wish to use that for budget vs actual analysis for your divisions.
❗Note: Adding a budget for divisions is only available for companies imported from our cloud-based integrations - Xero, QuickBooks Online, or MYOB AccountRight Live. This option is not available for QuickBooks Online Advanced companies.
More information on the use of budgets can be found in the following help article: Importing Budgets.
First, import the parent companies that contain the divisions that you would like to add budgets for. More information on importing companies can be found from the following help article.
Once the parent companies have been imported, you can now import each division as a standalone entity within Fathom. Detailed instructions on this process can be found in the following help article: Importing a division as a standalone entity.
Once your divisions are imported as standalone entities within Fathom, you can import a budget for them. This will differ based on the source accounting system.
Standalone budget from QuickBooks Online
When importing a standalone entity from QuickBooks Online, you have the choice to add a budget for the division from QuickBooks Online or from Excel. If the budget is sourced from QuickBooks you can select it during the import process. You will need to be careful that you select the correct budget as the budgets for the parent entity and classes are presented together.
If you want to add a budget from Excel, you can do this from the company Settings after import, under ‘Step 1 - Update Data’.
Standalone budget from Xero or MYOB
When importing a standalone entity from Xero or MYOB, it is not possible to import the associated budget for a division.
As a workaround, you can add a budget for the division from Excel. More information on this process can be found here: Importing Budgets from Excel.
Can I import a single class from QuickBooks Desktop as a standalone entity?
No. Importing a single division is available only for our cloud-based integrations. It cannot be done through the Fathom Desktop Connector.