Fathom’s custom foreign exchange (FX) editor for multi-currency consolidated groups enables you to override Fathom’s default FX rates with your own custom exchange rates. This give you flexibility and control in presenting your financial results in a multi-currency consolidated group.
Where to access the custom FX editor
❗Note: This feature is ONLY available in a multi-currency consolidated group. For more information, please view the following help article: Multi-currency consolidations.
From the ‘My Companies’ screen, hover your mouse over a multi-currency consolidated group and click ‘Settings > Step 2 - Group Profile’.
Under the heading ‘Default Rates’, click on ‘Edit exchange rates’ next to the presentation currency.
The presentation currency is the selected currency that will be displayed for this consolidated group. All other currencies will be converted into this currency. If you wish to change the presentation currency, proceed to ‘Step 1 - Update Data’ and click ‘Manage Group’.
Selecting the period range
At any time, you’re able to view 6 months of FX rates for your Profit & Loss (P&L) and Balance sheet.
This is based on the financial year of your consolidated group, specified in ‘Step 1 - Update Data’.
You can navigate between time periods by:
- Selecting the financial year using the dropdown box
- Clicking on the left/right arrows at the top of the table to quickly navigate to the previous or next 6 month period
Understanding the FX editor
Fathom will display each underlying currency in separate tables for the P&L and Balance sheet. The P&L uses monthly average rates, whilst the Balance sheet uses month end rates.
The currencies that are shown for each table are taken from the currencies of your underlying companies. The direction of the conversion of each rate is:
Functional currency of individual company → Presentation currency of consolidated group
Eg. One of the underlying companies is in Japanese Yen (JPY), and the consolidated group is in US dollars (USD). The exchange rates shown are JPY/USD ≅ 0.0093.
❗Note: There is currently no option to reverse the direction of these rates.
Adding custom FX rates
To add your own custom FX rates, you can simply type them into the cells for the P&L and Balance sheet tables. This will override the default FX rates applied by Fathom.
After making changes to any default rate, a small blue triangle icon will appear in the top right corner of the cell. This will allow you to quickly identify any custom rates. You can also hover your mouse over this icon to see the initial default rate.
💡Pro-tip! When editing exchange rates within cells, press ‘TAB’ on your keyboard to quickly move to the next cell. You can also hit ‘ENTER (RETURN)’ to save any changes made.
Fix custom rates over a range
Fathom enables you to fix a single exchange rate across a custom period.
To do so, hover your mouse over a cell that contains the exchange rate you wish to fix. Then, click ‘Overflow menu (3 dot icon) > Fix rate’.
You can then choose to fix rates for all periods, or for a custom period.
Reset to default rates
At any time, you can reset any custom exchange rates back to the default rate provided by Fathom.
This can be done:
- One cell at a time. Hover your mouse over the cell, and click ‘Overflow menu (3 dot icon) > Reset to default rate’.
- For all periods, or for a custom period. Hover your mouse over the currency name in the table (left-most cell). Click on the option to ‘Reset’. You can then choose to reset rates to default for all periods, or for a custom period.
View and edit rates using Excel
In addition to manually customising FX rates within Fathom, you’re able to upload an Excel file with your custom FX rates.
This is useful if you wish to add many custom exchange rates across multiple periods.
Download import template
First, download the import template. You can view our guidelines for importing your exchange rates from Excel.
Adding custom rates to your Excel file
The Excel template will look similar to Fathom’s custom FX editor. Key aspects of the template include:
- Consolidated group name
- Presentation currency of the consolidated group
- Profit & Loss exchange rates for all periods
- Balance sheet exchange rates for all periods
After downloading the import template, any changes that you have made to the default rates will be shown in the Excel. Default rates (that haven't been changed) will show up as blank cells in the Excel.
Once you have added your custom rates to the Excel file, upload it back into Fathom. You will see a summary of the changes made, as well as any potential issues with the upload file.
❗Note: Any cells that are left blank when uploading will use Fathom's default rate.
Troubleshooting issues in your Excel import
The first step to troubleshooting any issues in your Excel import is to review the upload modal screen after uploading your file.
Fathom will provide a detailed description of each specific issue, as well as the effect of this on your upload. You can also see the exact cells that the issue is located by hovering your mouse over the information tooltip.
❗Note: You will be able to proceed with the upload despite any issues that are found.
We recommend that you download the import template directly from Fathom, rather than recreate it yourself.
Potential issues can include:
- Cells have been left empty, in which the default rate will be applied
- Cells contain invalid values (special characters or text)
- The Excel file is not in the correct import template
If you are still unable to resolve the issue or have any questions about your Excel import, please reach out to our support team at firstname.lastname@example.org. In your message, please attach the custom rates Excel file that you are uploading.