Adding Budgets for Divisions

Import budgets for classes, locations, tracking categories, or jobs & categories

Calen Olesen avatar
Written by Calen Olesen
Updated over a week ago

Contents


Can you import budgets for divisions in Fathom?

Xero

You can import divisional budgets into Fathom from Xero. If you have imported tracking categories, you can import their budgets as part of the regular Xero budget import process.

Xero Standalones

You may wish to import Xero tracking categories as standalones for functionality outside of divisional budgets.

When importing the budget for the standalone entity, you will have the option to import budgets filtered to the specified tracking category in Xero.

Example: A veterinary centre has three tracking categories for its services: Surgery, Laboratory, and Non-surgical Treatments. They have imported each tracking category as a standalone entity in Fathom. When importing a budget from Xero for the 'Surgery' tracking category, they do not see any budgets listed. They go into Xero, find the budget they need and filter it to the 'Surgery' tracking category. It should now appear as a budget option for the 'Surgery' standalone.

Please refer to the 'Importing a Budget from Xero' article for more detail on importing budgets from Xero.


QuickBooks Online

You can import divisional budgets into Fathom from QuickBooks Online. If you have imported classes & locations, you can import their budgets as part of the regular QuickBooks Online budget import process.

QuickBooks Online Standalones

You may wish to import QBO classes & locations as standalones for functionality outside of divisional budgets.

When you are importing a budget for a standalone, the budget type must match the standalone type. You can only import budgets subdivided by class for class standalones and budgets subdivided by location for location standalones. You will choose the budget, and Fathom will pull in any figures allocated to the specified standalone in that budget.

Please refer to the 'Importing a Budget from QuickBooks Online' article for more detail on importing budgets from QuickBooks.

MYOB AccountRight Live

For MYOB AccountRight Live companies, it is possible to import budgets for divisions if those divisions have been imported as standalone entities.

❗Notice: Adding divisions as standalone entities is an advanced feature of Fathom only available for Xero, QuickBooks Online, and MYOB AccountRight Live users. If you wish to proceed, each division imported as a standalone will be billable monthly as a separate entity.

QuickBooks Desktop and MYOB AccountRight

It is not possible to import divisional budgets for QuickBooks Desktop or MYOB AccountRight companies.
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Excel

It is only possible to import divisions for Excel companies if each division has been imported as a separate entity in Fathom. This requires you to create an Excel import file for each division. If divisions have been imported as separate entities, then a budget can be imported for each entity.


Standalone budget import process

You can use the following workflow to import budgets for divisions into Fathom.

  1. Import the parent company with the divisions you want to add budgets for

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


Importing budgets for divisions

You can import budgets once your divisions are imported as standalone entities within Fathom. This will differ based on the source accounting system.

Budgets for divisions cannot be imported directly from MYOB AccountRight Live; instead, you can import budgets for the standalone divisions from Excel.

For standalone entities sourced from QuickBooks Online or Xero, budgets can be imported for the standalones directly from the source accounting system or Excel.

If importing from QuickBooks Online, you will select the parent company budget for a standalone division. Fathom will automatically pull out the budget amounts tied to the specific division.

Source Accounting System

Import standalone budgets from

Xero

QuickBooks Online

MYOB AccountRight Live


Next steps

Now that you've added budgets for your standalone divisions, you may want to unlock the other additional areas of functionality that come with standalone divisions:

What you want to do

Where to go

Benchmark your standalone divisions to better analyse and report on how divisions perform against one another.

Create a forecast for each standalone division as you would for a single regular company in Fathom

Report on each standalone entity


Additional knowledge & common questions:

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