Importing financial data

To import financial data from MYOB AccountRight Live, select ‘Add a Company’ in the top right of the My Companies screen.

Then, select to connect to MYOB > MYOB AccountRight Live.

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.

After authorising access, Fathom will begin to import your financial data (P&L and Balance sheet). It should not take more than a few minutes.

Once completed, you will see your new MYOB file available in the 'My Companies' screen.

Update your data from MYOB AccountRight Live

At anytime, you can manually update the data in Fathom by selecting 'Update from MYOB' in 'Step 1 - Update Data' of the company settings. This will synchronise the data in Fathom with the data in MYOB at that point in time.

You can also tick the checkbox to 'Automatically update every day'. This will ensure that Fathom stays up to date with your data in MYOB AccountRight Live on a daily basis.

For more detail on managing or updating your financial data, view the following help article: Step 1 - Update data.

Importing budget data

Fathom enables you to import an external budget from MYOB AccountRight Live.

When importing your financial data from MYOB AccountRight Live for the first time, select the checkbox option to bring in budget data. This is found in the same window as selecting the company to import into Fathom.

To import budget data from MYOB AccountRight Live for an existing company, proceed to 'Step 1 - Update data > Budgets' in the company settings. You can add a new budget, or update your existing budget.

❗ Note: You can choose to import your budget from MYOB, or import a budget from Excel.

Importing Job and Category data

When importing from MYOB, you can choose to bring in your job and category data for divisional analysis. This will help you to further filter your results to gain more detailed insights on the performance of those jobs.

You can import up to 20 jobs into Fathom for a single company when importing from MYOB. You can find more information on this in the following article: Import Job and Category Data from MYOB

For more general information on using divisions in Fathom, view our article for Getting started with divisions.

FAQ

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.

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