Last Updated:

Importing budgets from Excel
In addition to your actual financial results you can also import your financial budget. Importing a financial budget is optional. However, budgets are really useful for setting targets and also 'budget vs actual' analysis.

A budget can be imported from Xero (from the budget manager), QuickBooks, MYOB. Alternatively, you can also import your budget from Excel. This is useful if you use an other forecasting tools for creating your budgets.

Importing your budget from Excel
Fathom enables you to import your budget data from an Excel (.xlsx or .csv) files. To import your budget data > go to 'Setup' for a company > then in 'Step 1: Update Data' select the ‘Add a budget' button.

To create a file for import, simply download a ready-made import template or follow the following guidelines:

Guidelines for creating a budget import file:
1. Specify the company name in cell B1.
2. Specify the data type as 'Budget' in cell B2.
3. Add the column headings – 'Account Name' and all period names. Also add 'Account Number' in a separate column (if available).
4. Add the respective budget values for each account and period.

import_instructions_budget_screenshot-month.png

Tip: You'll need to ensure that the budget is contained in the first worksheet of the spreadsheet for the import to be successful. 

After you have created your import file, import this file by selecting 'Choose a file to Upload'.

Import Template:
After your company financials are imported, you can download an import template for your Excel budget by clicking the "Add a Budget" button in Step 1 of the company setup, selecting the Excel option, and then downloading an import template using one of the links highlighted in the image below. If your financials are already imported, this budget template will reflect your existing chart of accounts, so you'll just need to add the budget figures, and you're ready to go.

Image_2018-04-30_at_4.06.41_PM.png

To update your budget data from Excel
Whenever you update your budget, you can update the data in Fathom by importing a new or revised budget import file.