Adding divisions as standalone entities to Fathom
It is possible to analyse a single division (class, department, location, tracking category, job, or category) as a standalone entity. Importing divisions as standalone entities will allow you to add budgets for divisions, to forecast on the divisional level, and also to consolidate or benchmark divisions with other entities.
To do this, you will need to import a division as a separate entity. Each standalone division will be considered as a company in Fathom for billing purposes.
After a division has been imported as a standalone entity, you can import a budget for the division from Excel (for divisions from Xero and MYOB AccountRight Live) or QuickBooks Online.
❗Note: Only Xero, QuickBooks Online, and MYOB AccountRight Live companies can import divisions as standalone entities into Fathom.
Importing a division as a standalone company
To import a division as a standalone entity, you must first import the parent company into Fathom. Then,
The selected division will now be visible as a company on the 'My Companies' page in Fathom. You’ll be able to update the divisional data, add a budget, analyze metrics, create a forecast, and generate reports for the standalone division like any other company in Fathom.
Frequently Asked Questions
Will this affect billing?
Yes. Please note that each division imported as a standalone company will have access to all of the analysis, forecasting, reporting tools in Fathom. Therefore, each standalone division is treated as a separate entity for billing purposes.
If you have QuickBooks Online Advanced, then only the parent company is covered as part of your QuickBooks Online Advanced subscription. Each standalone division is treated as a separate additional entity for billing purposes. If you have not already started a paid plan, then you will need to sign up for one to import classes and locations as standalone entities.
If you have questions or concerns about billing for standalone entities, the please contact our us at email@example.com.
Can I import a budget for a standalone entity?
Yes. Fathom enables you to add budgets for divisions that are imported as standalone entities. For more detailed information on this process, view the Adding Budgets for Divisions help article.
Can I create a forecast for a standalone division?
Yes. Fathom enables you to create a forecast for standalone divisions as you would for any other company. You can then create a consolidated group out of the standalone divisions and use a consolidated forecast to forecast at the parent company level. For more detailed information on this process, view the following help articles:
Can I import another division from within a standalone entity?
No. Fathom does not allow you to nest divisions within standalone entities. Each division must be imported as an individual entity.
Congratulations on adding your division as a standalone entity to Fathom! Finish setting up your standalone division for analysis, reporting, and forecasting:
What you want to do:
Next step in process:
Import a budget for your standalone entities
Set up the Company Profile for your standalone entities
Benchmark your standalone divisions to better analyse and report on how divisions perform against one another
Create a forecast for each standalone division as you would for a regular single entity in Fathom
Report on each standalone entity
Consolidate standalone divisions from multiple companies to combine them into one entity
Additional knowledge & common questions: