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Creating a Custom Financial Statement
Creating a Custom Financial Statement

Customizing a Profit & Loss or Income Statement, Balance Sheet, or Cash Flow Statement

Calen Olesen avatar
Written by Calen Olesen
Updated over a week ago

Contents


Customisation options for financial statements

In Fathom, you’re able to add financial statements to a custom report at any time.

The layout and terms used in the financial statements are based on several customisation options:

Customisation Option

What it does

Sets the vocabulary used in your financial statements (e.g. 'Profit & Loss' or 'Statement of Activities')

Controls the headings and subheadings in your statements and the order of the accounts within a classification.

Controls the order in which classifications and totals appear in the financial statements.

Controls which accounts are seen in the financial statements (e.g., all accounts, only headings, only classifications, etc.)

While the above options offer a lot of flexibility, some customisations require you to use a KPIs or KPI Trends table instead of the templated financial statements. Customisations that require a KPI or KPI Trends table include:

  • Changing the order of the classifications (outside of the available layout options)

  • Changing how a total or amount in the financial statements is calculated

For these options, you are able to use custom KPIs and KPI Trends tables to create your own custom financial statements.

πŸ“ Note: Account names can only be changed in the source accounting system. After changing them in the source system, you can trigger an update to reflect the new account name in Fathom.


Building a custom financial statement

The outlined process for building a custom financial statement is the following:

  1. Save the report you've created as a template so you can easily create future reports with the custom financial statement you made. You'll also be able to share the template with other companies on your Fathom account.


Create custom KPIs or headings to use in your custom statement

If you want to change how a subtotal/total is calculated, you'll first need to create custom formula KPIs to include these custom calculations in reports.

To create a custom formula KPI:

  1. Go to the 'Step 4 - KPIs' in the company's Settings
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  2. Select β€˜Create a KPI’
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  3. Choose to create a β€˜Formula KPI’
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  4. Fill out the information. The KPI Name will be the new name for the account or classification.
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  5. If you have many companies or groups that will use a similar custom financial statement, you’ll need to add the KPI to the KPI Library to share the custom table with other companies or groups.

    1. Add custom KPIs to the KPI Library

    2. Go to the company or group the report is shared with and add the custom KPI from the KPI Library to the company or group.
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      πŸ“Note: Only users with an 'Administrator' role in Fathom can add KPIs to the KPI Library.
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  6. Create the formula

Once you've set up all of the custom KPIs you’ll be using, you can go into the Report Centre for the company to create or edit a custom report or template.


Add a KPI or KPI Trends Table to your report

In a custom report,

  1. Go to β€˜Tables & Financials’ on the left sidebar
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  2. In the menu that opens, go to the second bolded smart text filter at the top
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  3. From the drop-down menu, choose β€˜KPIs’ or β€˜KPI Trends’.
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    β€‹πŸ’‘Pro Tip: A 'KPI' table will display the current period's results and allow you to add comparative columns as well as a couple of prior periods. A 'KPI Trends' table will allow you to display several periods of results (e.g. A rolling-12 month table).
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  4. Choose one of the tables to add to your report. You'll edit it to display the exact information you need.


Customise the table to suit your needs

  1. Once the table has been added to your report, hover over it and select the green 'Pencil' icon in the top right corner.
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  2. In the menu on the right, you can type in the new name for the table in the uppermost text box.
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  3. Select β€˜Rows’. From here, you can customise the rows displayed in the table.

    1. To remove a row from the table, select the β€˜Three dot’ icon to the right of the row name. Then choose, β€˜Remove’.

    2. Select the β€˜Add rows’ option to add rows to the table.

    3. From the menu that opens, we can add KPIs, account classifications, headings, subheadings, and individual accounts to our table.
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  4. Once you've added the desired rows, select 'Done'.
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  5. For rows that you want to appear as totals or bolded, select the β€˜Three dot’ icon to the right of the row name. Check the β€˜Total row style’ option.
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  6. In the 'Columns' section of the menu,

    1. In a 'KPI' table, select 'Add or remove columns' to add or remove columns from the table. Select the 'box' next to the column name to change the colour of the column.

    2. In a 'KPI Trends' table, change the date range.


Save the report as a template

Once you’ve created your custom financial statement, we recommend turning your report into a custom template.

This will allow you to easily re-create the report in future periods, schedule reports to be automatically created for future periods, and share the report, with the custom financial statement, across multiple companies in your Fathom organisation.

  1. In your custom report, select the 'Back arrow' icon in the upper left corner to return to the Report Centre.
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  2. Find the report (it will likely be listed in the 'Drafts' section) in the Report Centre and hover over the name of the report.
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  3. A 'Three dot' icon will appear to the far right of the report name. Select it.
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  4. From the drop-down menu, choose 'Save as template'
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    πŸ’‘Pro Tip: You can edit a template after it has been created.
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  5. Name the template and choose 'Create template'
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  6. The new template will be listed as one of your custom templates.

You can share a template with all of the companies in your organisation, all the companies in a consolidated or benchmark group, or with individual companies.

If you're happy with the report template and want future reports to be created automatically from the template, you can create a schedule for the template.

You're also able to create reports from the template which you can edit and then turn into new custom templates.

πŸ’‘Pro Tip: When a KPI table or custom financial statement is shared across companies or groups, the rows in the table will be matched according to our matching methodology.


Additional knowledge & common questions

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