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Importing financial data from other accounting systems (via Excel)

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Instructions
In addition to importing directly from source accounting systems (ie. Xero, MYOB, QuickBooks). Fathom lets you import your financial data from Excel (.xlsx or .csv). 

To import financial data from Excel > Select ‘Add a Company’ > then select ‘Excel’ as the source.
select_source_excel.png

This allows you to import financial data for an unlimited number of monthly, quarterly or annual periods.

Typically you would export a multi-period monthly Profit and Loss (Income Statement) and Balance Sheet reports from your accounting system to Excel and then adjust these reports to conform to the following format:


Import Guidelines

To create a new import file follow these simple steps:

  1. Specify the company name and the first month of the financial year (cells B1 & B2).
  2. Add the column headings – 'Account Tag', 'Account Name', all your monthly periods and 'Account Number' if available.
  3. Add all your accounts and their respective monthly values.
  4. Tag your accounts. Don't tag summative accounts like 'Gross Profit' or 'Total Assets' though. 

Tip: You'll need to ensure that your financial data is located in the first worksheet of the spreadsheet for the import to be successful. 

For more detailed instructions, including a list of account tags, read the full Importing Guidelines.

Example Import Files
Fathom financial import file (Monthly)
Fathom financial import file (Quarterly)
Fathom financial import file (Annual)
Fathom financial and non-financial import file (Annual)

To update your data from Excel
At the end of the month or reporting period, you can update the data in Fathom by importing a revised import file.  If there are prior period adjustments, then we recommend that the import file contains data for all prior periods. Alternatively, you can just supply the new data that you wish to append this to the existing data.

Tip:
After the first import, you are no longer required to complete the 'Account Tag' column in your excel import template. This column can be left blank. we recommend doing this, unless there are new accounts in your chart of accounts, in which case you should supply the account tags.