If you would like to build your forecast from a budget or an existing forecast, then you can use the ‘Link to Budget’ option when setting up your Fathom forecast.
When you first enter Fathom forecasting, there are three different onboarding options:
To learn more about the differences between each of the forecast onboarding options, please see this article.
The ‘Link to Budget’ forecast will bring data into your forecast from the budget you have imported into Fathom. If you have an existing forecast you want to use, then you can load that forecast into Fathom as your company budget from your source accounting system or Excel. For more detailed information on importing a budget into Fathom, please see this article.
When going through the ‘Link to Budget’ onboarding, you will still be able to set up different value rules for your Revenue, Expense, and Cost of Goods Sold accounts. They will all simply default to the ‘Link to Budget’ option. You will also be able to set up default timing profiles for these account classifications. You can edit these value rules and timing profiles at the individual account, heading, or classification level once the forecast is generated.
Additionally, the onboarding process will allow you to review and set up any tax settings and/or loans and depreciation accounts settings (linking the correct asset account to the P&L loan account and choosing the depreciation method). Any decisions you make during the onboarding process can be changed once you are in your forecast.
❗Note: If you have loan or depreciation accounts in your chart of accounts but they are not showing up during that step of the onboarding, then those accounts are likely not classified as such in ‘Step 3 - Chart of Accounts’ in Fathom.
Once you’ve done all of that select ‘Create Forecast’ and you’ll be taken to the forecasting main grid. Now you’re ready to jump in and have a play with our microforecasts, the business roadmap and our scenarios!