If you want to begin customizing your forecast in Fathom from the start, then the ‘Custom Forecast’ onboarding option may be for you.
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.
When you select to create a custom forecast, you’re first prompted to set up the value rules for your Revenue, Expense, and Cost of Goods Sold accounts. These value rules will apply to all accounts in the classification, you can edit these value rules at the individual account, heading, or classification level once the forecast is created.
You will also set up the timing rules at these overall classification levels, to tell Fathom how quickly your amounts move from the Profit and Loss to the Balance Sheet.
Once you have set up the default value rules & timing profiles, you will be prompted to set up your default account linkages, allowing Fathom to read and create accurate accounting movements automatically.
You’ll set up linkages for each of the following, these can be changed at any point in your global forecast settings:
The next step will enable you to set up your tax settings to accurately calculate the amounts of any Consumption, Withholding or General Tax Expenses. For detail on tax settings in a Fathom forecast, please see this article.
Finally, configure your loans and depreciations before getting started. Simply link the relevant Depreciation accounts for your Assets and assign a Method. Then do the same for your short term and long term debt obligations.
❗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.
💡Pro Tip: Once your forecast is set up - you can go account by account, and change any of these settings as you’d like.