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.
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'.
Example import file:
Example Budget import file (monthly)
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.