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Add Budgets for Divisions

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

This feature is included with Fathom Pro - the plan with access to all of Fathom's features. Companies on Portfolio can be upgraded to Fathom Pro at any time.

Import budgets for divisions

For companies sourced from Xero and QuickBooks Online with imported divisions, you can add divisional budgets as part of the regular budget import process.

View the following articles for a how-to guide:

Once imported, divisional budgets can be added to Pro Reports and viewed as comparatives within the Breakdown and Financials Analysis tools.

For companies sourced from MYOB Business, you can import budgets for divisions if they have been imported as standalone entities.

For QuickBooks Desktop companies, it is not possible to import divisional budgets.

💡 Smart Tip: You can add external images and PDF files to Pro reports. This could help you bring divisional budget data into a Fathom report.

For Excel companies, it is only possible to import divisional budgets if each division has been imported as a separate entity. This requires you to create an Excel import file for each division. Then, once imported, a budget can be added for each entity.

Import budgets for standalone divisions

Divisions can be imported into Fathom as standalone entities, for example, to support forecasting, benchmarking, or controlled visibility by division.

❗Notice: Adding divisions as standalone entities is an advanced feature of Fathom, only available for Xero, QuickBooks Online, and MYOB Business users. If you're not using one of these accounting systems, you can import divisions as individual Excel companies.

View our dedicated article to understand why you would import divisions as standalone entities, and a step-by-step guide on how to import them: Import a division as a standalone entity

📝 Note: Each standalone division has the functionalities of a single company and is considered a company in Fathom for billing purposes. Contact our Support Team at support@fathomhq.com if you want to discuss billing options for standalone divisions.

Once divisions have been imported as standalone entities, budgets can be imported for them.

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

For standalones sourced from MYOB Business, divisional budgets cannot be imported from the source accounting system; instead, you can import budgets using Excel.

To import budgets for standalone divisions:

  1. Import each division as a standalone entity
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  2. Import budgets for the standalone divisions:

    1. Xero

    2. QuickBooks Online

    3. For MYOB Business, import budgets using Excel

Add budgets for standalone Xero divisions

When importing the budget for a standalone division sourced from Xero, 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.

For more details, please refer to: Import a Budget from Xero

Add budgets for standalone QuickBooks Online divisions

When importing the budget for a standalone division sourced 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.

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.

For more details, please refer to: Import a Budget from QuickBooks Online

Add budgets for standalone divisions using Excel

For all divisions imported as standalone entities, regardless of the source accounting system, budgets can be imported using Excel.

This functions in the same way as importing an Excel budget for a regular company. For more details, please refer to: Import your Budget from Excel

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