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Update your financial data in Fathom

Manage and update your company’s financial data

Updated yesterday

There are two areas of Fathom where you can update financial data:

💡Smart Tip: If you've imported divisional data for your company (e.g. tracking categories, classes, locations), the divisional data will also update when you update your financials.

From the ‘My Companies’ page

You can update your financial data for cloud-sourced (Xero, QuickBooks Online, MYOB Business, Sage Business Cloud, FreeAgent), Sage 50 Accounts, and Excel companies from your ‘My Companies’ page.

If you make changes in your source system, you can synchronise them to ensure data accuracy in Fathom by triggering a manual update.

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To update a company's financials:

  1. Click the Three dots icon under the Actions column for the company you wish to update.

  2. From the drop-down menu, select Update.

  3. A modal will then open:
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    1. For cloud-based companies on a Fathom Pro plan, you can select the date range you would like to update. Sage 50 Accounts and Excel companies will be updated based on the date range in the update file.
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    2. For companies on a Portfolio plan, Fathom will always update financial data for the past 36 months, counting backwards from the most recently completed month.

Companies sourced from QuickBooks Desktop or MYOB Desktop will be taken to the ‘Source Data’ section of the company's Settings when they select this option.

💡Smart Tip: You can bulk update cloud-based, Sage 50 Accounts, and Excel companies from the ‘My Companies’ page.

Update Source Data in the Fathom Pro Company Settings

For all companies on a Fathom Pro plan, you can update your financial data within the Company Settings.

For a guide to updating a company’s budget, AR and AP, non-financial data, or updating a consolidated group, please visit the relevant article below:

To update a single company’s financial data:

  1. From the My Companies page, select the Company Settings via the Cog/Gear icon.

    1. If you have multiple companies imported, hover your mouse over a Fathom Pro company and click on the Cog/Gear icon to open Settings.

  2. Go to Source Data on the left sidebar.
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  3. Under Financials, click the Update data button.

For companies on a Fathom Pro plan, which are sourced from Xero, QuickBooks Online, or MYOB Business, Fathom will, by default, automatically update your financial data once every 24 hours. Follow our guide on how to enable automatic updates, including for Portfolio plan companies: Automatic updates for financials

You can find more detailed instructions on updating your company’s financials in the following articles:

Import Current Month Data

By default, Fathom will automatically update your data to the nearest completed month. However, for cloud-sourced companies (Xero, QuickBooks Online, Sage Business Cloud, MYOB Business, FreeAgent) on a Fathom Pro plan, you can import current-month data.

Automatically import current month results (MTD)

You can enable Fathom to automatically update your data to include the current month's results.

To enable automatic updates of the current month's results:

  1. Head to the Source Data > Financials section of the Company Settings.

  2. Make sure the option to ‘Automatically update your financials every day’ is toggled on.

  3. Click 'recently completed' under the automatic update option, then choose 'current'.

Manually import current month results (MTD)

You can also manually update Fathom to the current (incomplete) monthly period to bring in month-to-date (MTD) results.

To manually import MTD financial data:

  1. Proceed to Source Data > Financials in Company Settings.

  2. Click 'Update data'.

  3. Select to import results for the current (incomplete) month.

Remove financial periods

If required, companies on a Fathom Pro plan can delete previously imported financial periods. This is useful if you have imported results for incomplete periods, which may be distorting Quarter-to-Date (QTD) or Year-to-Date (YTD) analysis. To do this, simply select 'Remove Periods' under the 'Update Data' button.

❗Notice: Unless your data is imported from Xero, QuickBooks Online, Sage Business Cloud Accounting, FreeAgent or Excel, once the starting date of your data has been altered by removing historical periods, these periods cannot be re-added, except by deleting and re-importing the company to Fathom.

Getting Started with Fathom?

Feel free to follow our ‘Get Started Workflow’ to guide you through importing your data into Fathom and getting you comfortably set up.

Get Started Workflow

Learn more

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