Where can I learn more about forecasting and how to use it?

This ‘Get Started With Fathom Forecasting’ article will take you through the steps of setting up your Fathom forecast.

You can also view this Forecasting Webinar. It starts with creating a forecast and goes through the different features in Fathom and their functionalities. The video is more of an internal training video that you can view while we work on completing a general customer-facing webinar.

What is the quickest way to see a financial statement with your future periods forecast out?

The quickest way to see a financial statement with future periods forecast out is to download an Excel version of the forecast from the main forecasting grid:

  1. Click on the ‘Cloud’ icon in the lower left corner of the navigation bar
  2. Choose to which financial statements to download
  3. Select the date range
  4. Click ‘Download to Excel’

The quickest way to access a financial statement in the Fathom format with future periods forecast out, would be to add a ‘Financial Trends’ table to a report. For more information on adding forecasting components to reports, see this article.

Can I create more than one forecast, or build different scenarios?

In Fathom, you have one main forecast. Using your main forecast, along with associated assumptions and microforecasts, you can change timing rules and value rules to create custom Scenarios. This allows you to visualise the best case and worst case outcomes for the business.

What is Smart Prediction?

Smart Prediction is the statistical prediction of future values using 3/6/12/24 month linear regression, with an option for seasonal adjustments.

Where are the default rates coming from when creating a Quick Start or custom forecast?

The value rules suggested by Fathom when creating a custom forecast are calculated based on the imported financials. These are suggested value rules and may be changed at the classification, heading, and/or account level after a custom forecast has been created. You can also choose to use/input a different default value rule than what is suggested when you are first creating your custom forecast.

What are timing rules?

Timing rules represent how quickly items move from the profit and loss, into accounts receivable and are collected into cash. This is particularly useful if you are using the accrual method.

Timing rules can be applied to an entire classification or to a specific account. These can be changed at any time in your Forecast settings or by clicking into a cell in the main grid.

How does forecasting play into the Analysis tools?

Upon first release, forecasting will not be incorporated into the Analysis tools.

How can we compare our actual performance to our forecast?

Forecasting is fully integrated into Fathom Reporting. You can read more about our new table types here. You can also view up to 12 months of actuals from the forecasting main grid.

Do you forecast consolidations or divisions?

Forecasts can be created at the consolidated group level, but underlying company forecasts cannot be accessed at the consolidated group level and do not roll-up into the consolidated group. There is a possible workaround detailed in this article.

There will not be divisional (classes/locations/tracking categories) forecasting at this time.

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