Importing financials from MYOB AccountRight Live

Uploading & updating your financial data from MYOB AccountRight Live

Updated over a week ago


Adding your MYOB AccountRight Live company to Fathom

Fathom has a direct integration with MYOB AccountRight Live. Those with an Administrator role for a company in MYOB will be able to import data into Fathom.

When you import a MYOB AccountRight Live company into Fathom, your company’s Chart of Accounts will automatically be brought into Fathom. You can import a maximum of 3000 accounts and up to 8 years of monthly data. For information about 13th period adjustments, please see that section of this article.

Importing financial data from MYOB AccountRight Live

To import financial data from MYOB AccountRight Live, log into your Fathom account and go to the ‘My Companies’ page.

  1. Select ‘Add’ in the upper right corner of the ‘My Companies’ page.

  2. Choose ‘Company’

  3. Then, in the menu that opens, select ‘MYOB’

  4. In the ‘MYOB AccountRight Live’ section, select ‘Connect to MYOB’.

  5. If you have multiple MYOB AccountRight Live companies, then you can select which company to import into Fathom.

  6. The first time Fathom connects to your MYOB organisation, you must authorise Fathom to access your data from MYOB. You’ll only need to do this once for each MYOB AccountRight Live organisation.

    Note: You must be a user with the 'Administrator' role in the MYOB company in order to connect the company to Fathom.

  7. If you have a budget in MYOB, then you can import your budget along with your financials by checking that option. You’re also able to import the budget at a later stage.

  8. Select ‘Import’

  9. If you are using Jobs & Categories in MYOB, then you’ll also be able to select which Jobs and Categories you want imported into Fathom. You’re also able to skip this step and import these at a later stage.

After authorising access, Fathom will begin to import your financial data, or chart of accounts. This should not take more than a few minutes.

Once the import is complete, you will see your MYOB company listed on the 'My Companies' page. You’re now able to access the Settings, Analysis, Reports, and Forecasting tools for your company.

Frequently Asked Questions

Company File Version

Each MYOB AccountRight file has a company file version which initially is the version of MYOB the file was created with. You can see the version by opening your library browser in AccountRight and hovering over the file name. If your AccountRight file is stored online, then MYOB requires it to be no more than three versions behind the most recent version of AccountRight.

If you encounter this issue, you will need to first ensure your AccountRight desktop client is upgraded to the latest version and then open your company file. You will be prompted to upgrade the company file.

How are 13th period adjustments reported in Fathom?

13th period adjustments will not be distinguishable from regular financial results within Fathom.

The data will be applied to the monthly results based on the transaction date of the adjustment.

For example, adjustments made in the '13th period' to April results will be visible in Fathom reports for the month of April and for that financial year.

Update your financial data from MYOB AccountRight Live

You can manually update the financials of your MYOB AccountRight Live company in Fathom at any time in the company’s Settings.

  1. Go to ‘Step 1 - Update Data’ of the company’s Settings

    💡 Pro Tip: Your financials will default to update through the most recently completed calendar month. If you want month-to-date financials imported into Fathom, then you’ll need to select this using the ‘edit’ option next to the listing under the ‘Automatically update every day’ checkbox.

  2. In the ‘Financials’ section, select the grey ‘Update from MYOB’ button.

💡 Pro Tip: By default, Fathom will automatically update your financial data from MYOB once every 24 hours. This setting can be toggled on or off in 'Step 1 - Update Data' of the Settings for a company. For more information about automatic updates, please see our ‘Automatic Updates’ article.

Next steps

Congratulations on adding your MYOB AccountRight Live company to Fathom! Continue onto the next step in the 'Getting Started Workflow' to finish setting up your company for analysis, reporting, and forecasting. Choosing from one of the next steps below:

What you want to do:

Next step in setup process:

Did you miss out on importing your Jobs & Categories from MYOB?

Want to change the budget that was automatically imported or add a budget?

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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