❗Note: Adding budgets for divisions is an advanced feature of Fathom only available for Xero, QuickBooks Online, and MYOB AccountRight Live users. If you wish to proceed, each division with a budget will be billable on a monthly basis as a separate entity.
Can you import budgets for divisions in Fathom?
Fathom enables you to add budgets for divisions (e.g. classes, locations, tracking categories, etc.) if a division has been imported as a standalone entity.
Importing divisions as standalone entities is only available for companies imported from our cloud-based integrations - Xero, QuickBooks Online, or MYOB AccountRight Live.
Standalone budget import process
Use the following workflow to import budgets for divisions into Fathom.
Importing budgets for divisions
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.
Budgets for divisions cannot be imported directly from Xero or MYOB AccountRight Live; instead, you can import budgets for the standalone divisions from Excel.
For standalone entities sourced from QuickBooks Online, budgets can be imported for the standalones directly from QuickBooks Online or from Excel. If importing from QuickBooks Online, you will need to be careful that you select the correct budget as the budgets for the parent entity and classes are presented together.
Source Accounting System
Import standalone budgets from
QuickBooks Online & QBO Advanced
MYOB AccountRight Live
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 regular single company in Fathom
Report on each standalone entity