Contents:


Accessing the Forecast Settings

There are several ‘Forecast Settings’ configurations that can be managed by navigating to the ‘Cog/Gear’ icon in the lower left hand corner of the forecasting grid.

Here you can find and manage the applicable settings:

  1. General: Download your forecast to Excel, download the 'Forecast Value Audit' report, view the drawdown settings, and delete your forecast or reset the baseline.

  2. Accounts Settings: Manage account linkages and relationships to help you scale the impact of your financial modeling.

  3. Tax Settings: Audit and manage settings across your accounts that control tax status, tax % and account links.

Outlined below are each of the settings areas and how these settings will impact your forecast in Fathom.


General Settings

General settings allow you to manage your general forecast settings including excel downloads, drawdowns and some bulk options allowing you to delete or ‘reset’ your forecast.

Downloads

You can download your forecast directly into Excel, by using the ‘Download Excel' button under the 'Forecast' option. This will prompt you to select:

  • To download the monthly, quarterly, or yearly forecast data

  • Which of the three financial statements you’d like to download (Profit & Loss, Balance Sheet, and/or Cash Flow Statement). These statements will download into separate Excel sheets in the same document.

  • The date range of actuals that you’d like to appear (up to 12 months) as well as the forecast periods (up to 36 months).

💡Pro Tip: If you have a scenario active when using the 'Download Excel' option for the forecast, then the forecast values for the selected scenario will be downloaded.

You can also download the 'Forecast Value Audit' to view an Excel download of all of the value rules, timing profiles, schedules, journals, drivers, and notes set up in a forecast.

Drawdowns

The Drawdown field allows you to change the time period of the residual drawdown for your actuals (closing Balance Sheet) Accounts Receivable and Accounts Payable balances. To learn more about how the drawdown is calculated, please see this article.

Forecast Management

Here you can reset or delete your forecast and start over. Note these are both permanent actions, and you will not be able to rollback or recover these changes.

Reset Baseline

Resetting your forecast is a non-recoverable action that will clear all your current baseline data including:

From this screen, you will be able to reset which default value rules and timing profiles you want to use in your reset forecast.

Delete Forecast

Delete your entire forecast and start from scratch. This allows you to set the forecast up again using the onboarding fields.

❗Note: Before deleting your forecast, you can download an Excel copy of your forecast for your own records. You can also provide a reason for deleting the forecast.


Account Settings

The ‘Accounts’ tab is where you can set up some default account settings. This area allows you to link accounts together for timing profiles, posting purposes, and for tax settings. You can set defaults or main accounts for the following accounts:

  • Accounts Receivables

  • Accounts Payable

  • Cash

  • Current Earnings

  • Unearned Revenue (prepaid)

  • Prepaid Expenses

You can then drill down and take this even further by setting up each individual relevant account linkages. For example, with each revenue account you can dictate the cash, accounts receivable, and unearned revenue account that rely on the sales or revenue from this account.

For cost of sales, you can dictate the cash, accounts payable and prepaid account. For expenses you can dictate your cash, accounts payable and prepaid expenses.

Account linkages automatically calculate the accrual, time down and posting for a given account. For example, based on a timing profile applied in Fathom, we can automatically calculate the Balance Sheet implications of changes to sales. i.e. increases in revenue timed down to the applicable accounts receivable account and cash account on the Balance Sheet.

You are also able to edit, link future accounts, and view the microforecasts that are linked to these future accounts from this area. Simply use the ‘three dot’ overflow menu, to select the action you’d like to perform.

These settings are designed to be set up once; however they can be edited at any time as business needs change.


Tax Settings

Fathom allows for three different overall tax types to be set. Within each of these three areas, multiple rules and formulas can be set up, giving you ultimate control over the calculation of each.

Click on each type to learn how to forecast that tax type in more detail:

Tax Type

What it is

Examples

Consumption or Sales Tax

A consumption tax is a tax on the purchase of a good or service. Consumption taxes can take the form of sales taxes, tariffs, excise, and other taxes on consumed goods and services.

  • GST

  • VAT

  • Sales Tax

  • HST

Withholdings

A withholding tax is an amount that an employer withholds from employees’ wages and pays directly to the government.

  • PAYG

  • Medicare

  • Leave provisions

  • FUTA/SUTA

  • CPP/QPP

  • Employee's NI

Tax Expense/Income Tax/ Superannuation

Taxes linked to an expense account on the P&L. For example, A corporate tax is a levy placed on a firm's profit by the government. A firm's operating earnings are calculated by deducting expenses including the cost of goods sold (COGS) and depreciation from revenues. Then, tax rates are applied to generate a legal obligation the business owes the government. These types typically have an expense account to capture the tax (or super) which reduces the earnings.

  • Income Tax

  • Corporate Tax

  • Company Tax

  • Corporations Tax

  • Superannuation

  • Employer's NI


Next steps

What you want to do:

Where to go next:

Set up loans, depreciation, and inventory in your forecast

Track the performance of key metrics throughout your forecast

Plan for potential business events & actions


Additional knowledge & common questions:

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