❗ Note: This article is for consolidated groups in which all companies in the consolidation use the same currency. For multi-currency consolidations, please see Multi-Currency consolidations.
Consolidations in Fathom
Fathom enables you to group related companies and easily create consolidated reports. These features enable you to create an aggregated view of both the financial and non-financial performance of a group of companies.
This is useful for organisations:
With multiple entities (up to 300 for single-currency consolidations, and up to 50 for multi-currency consolidations)
Seeking to consolidate financial (and/or non-financial) performance
Using different accounting systems
Reporting using either a consistent or inconsistent chart of accounts
Reporting in a single currency or multiple currencies (see this article for multi-currency consolidations)
Fathom will consolidate financial results by unifying accounts with the same name and Fathom classification. Accounts from different companies that have these two elements in common will appear as a single account in the consolidated group and any associated amounts will be summed accordingly. Fathom does not consolidate accounts based on Account Code.
Accounts with different names or classifications, can be grouped with the use of headings. For a guide to creating headings see: Headings and Subheadings.
KPIs and Budgets will ‘roll up’ from the underlying entities in the consolidated group for use within that group.
Creating a group
Before you create a consolidated group, you must first ensure that you have imported each entity into Fathom. After all companies are imported, you can create a consolidated group by:
On the ‘My Companies’ screen, select 'Add a group'
Choose 'Create a consolidated group'
Type in the name of the group
Select the companies to include in the consolidation
Choose a date range for the group financials
If the chosen companies operate using different financial years, you will need to choose a first month of financial year to use for the group.
Once you are ready, click 'Create Group'
The consolidated group will appear as a new entity on the ‘My Companies’ page.
Access the group Settings by clicking the 'Settings' icon in the My Companies screen. In Settings, you can review important settings (i.e. KPIs, targets and alerts) for the group.
You can also add or remove companies from the group, by selecting ‘manage group’ in Step 1 of the 'Settings'.
Once you have initiated the consolidation, it is recommended that you review the KPIs, targets and alerts for the group in Steps 4-6 of the Set Up.
A KPI cannot be created directly within a consolidated group. It must be created in one of the underlying companies and then it will show once a consolidation update has taken place.
However, not all KPIs will be used. Only custom KPIs which have been created in the KPI Library and added to one of the underlying companies will be included. Custom KPIs belonging to a single company will be ignored during the consolidation process.
You can set targets for each of the KPIs.
For a step-by-step guide to the consolidation process, see: Guide to Consolidations in Fathom.