Contents:

Note: This article details how to set up a QBO Advanced company. If you have a company from another source accounting system, please see our 'Getting Started with Fathom' article.


Using Fathom's 'Smart Reporting'

If you have a QuickBooks Online Advanced subscription, then you're able to access all of Fathom's analysis, reporting, and forecasting tools at no additional charge.

You can also import additional companies (including non-QuickBooks Advanced companies) into your Fathom account to create consolidations or benchmark groups.

When you connect a QuickBooks Online Advanced company to Fathom, your company’s Chart of Accounts will automatically be brought into Fathom, along with a budget if you have one in your QuickBooks Online Advanced company.

Note: Fathom is not included in the accountant version of QuickBooks Online Advanced. If you have the Accountant version of Advanced, then you'll need to purchase Fathom separately. If you're unsure of which version you have, go to 'Reports' in QuickBooks. If 'Smart Reporting' is an option, then Fathom is included in your subscription.


Getting Started Workflow

Setting up your company in Fathom starts with connecting to your source accounting system and adding your company to your Fathom account or importing a company into Fathom from Excel. Then, you'll want to go through the company's Settings so that your Fathom analysis, forecast, and reports are customised according to your company's needs.

To get the optimal performance out of Fathom, we suggest setting up a company in your Fathom account according to the following workflow:


Note: This article assumes you have already connected your QuickBooks Online Advanced company to Fathom. If you still need to connect your company to Fathom, please see our 'Importing financials from QuickBooks Online Advanced' article.

  1. If you use classes & locations in QuickBooks, then you can import your class & location data into Fathom.

  2. A budget was likely imported automatically when you first connected your QuickBooks Online Advanced company to Fathom. If desired, you can add a different budget from QuickBooks or import one from Excel.

  3. Set up your Company Profile

  4. Set up and customise your Chart of Accounts

  5. Choose and create KPIs (Key Performance Indicators) for your company

  6. Set targets to track the performance of your KPIs

  7. Begin analysing your company's performance, creating reports, forecasting, and consolidating & benchmarking!



Next steps

Congratulations on beginning the 'Getting Started Workflow'! Finish setting up your company for analysis, reporting, and forecasting by choosing from one of the next steps below:

What you want to do:

Next step in setup process:

Have classes or locations you want to analyse or report on?

Want to switch out the budget that was automatically imported?

Happy with the above and ready to begin setting up your Company Profile?

💡Pro Tip: If you want to consolidate several companies in Fathom, we recommend importing and completing the setup process for each company before creating a consolidated group.


Additional knowledge & common questions:

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