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Bulk Update Financials

Bulk Update Financials

Update multiple cloud-sourced companies in Fathom

Updated over a month ago

Update companies in bulk

In Fathom, you can quickly trigger an update of multiple cloud-sourced companies (i.e. Xero, QuickBooks Online, Sage Business Cloud Accounting, and MYOB AccountRight Live) with the bulk update feature.

This functionality is available to companies on a Fathom Pro or Portfolio plan.

Companies sourced from QuickBooks Desktop, Sage 50 Accounts, MYOB AccountRight, and Excel cannot be updated in bulk.

Which data will be updated?

A bulk update will update the financials (including divisional data, if applicable) for the selected companies.

📝 Note: Companies with divisional data (e.g. Tracking categories, classes, locations, etc.) will take longer to update.

Budgets, non-financial data, and accounts receivable & accounts payable data cannot be updated in bulk. You can trigger individual updates of those data.

What is the bulk update data range?

Companies on a Fathom Pro plan

The periods updated will depend upon the date range of the individual companies and the auto-update selection of the individual companies.

If a company's auto-update selection is set to update to the most recently completed calendar month, the bulk update will follow that selection. If a company's auto-update is set to update financial data that includes the current calendar month, a bulk update will follow that selection.

If auto-updates are not turned on for a company, the bulk update will default to importing financials up to the most recently completed calendar month.

Companies on a Portfolio plan

Fathom will update financial data for the past 36 months, counting backwards from the most recently completed month.

Start a bulk update

To bulk update companies:

  1. Go to the My Companies page
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  2. Select the Revolving Arrows icon in the lower left corner
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  3. Check the box next to a company you want to update

    1. Search to find companies quickly

    2. Filter to find a consolidated or benchmark group and quickly select to update all of the cloud-sourced companies in the group
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      ❗ Notice: You will not be able to select (1) companies currently being updated, (2) companies already queued as part of a bulk update, or (3) companies for which you need to re-authorise your connection with the source accounting system.
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  4. After making your selections, select Update companies

Check the progress of a bulk update

Once a bulk update has been triggered, the selected companies will be added to the update queue.

You can check the progress of a bulk update:

  1. Go to the My Companies page
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  2. Select the Update Companies icon on the black bar at the top of the page
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  3. If an update is in progress, select View details
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  4. Select an update status to view the companies currently in that status. The statuses are:

    1. In Progress: Companies currently being updated

    2. Queued: Companies next in line to be updated

    3. Successful: Companies successfully updated within the last 24 hours

    4. Failed: Companies unsuccessfully updated within the last 24 hours

Can I change the order of the queue?

It is not possible to change the order of the companies queued for updates. If you need a company updated quickly, you can trigger a manual update of the individual company.

This will update the company, and the company will be skipped over in the bulk update queue.

What if an update has failed?

Companies that have failed to update will be listed as Failed in the bulk update progress tracker.

An error message will be displayed for each company. If you would like to re-try updating all failed companies, you can select the Retry updates option at the bottom of the tracker.

To re-try updating an individual company listed as Failed, select the Three dots icon next to the company. Then, select Retry update.

Can companies be imported in bulk?

It is possible to bulk import multiple companies if they are sourced from a cloud-based software or Excel.

Automatic vs Bulk Updates

Companies on a Fathom Pro plan can also have automatic updates turned on if they are sourced from a cloud accounting system. If automatic updates are turned on for a company, the company's financials will be updated once every 24 hours.

Bulk updates enable you to update several companies before the next scheduled automatic update.

Learn more

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