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Import financials from Excel

Upload & update financial data from other accounting systems via Excel

Updated this week

Use Excel to import data into Fathom

Fathom has direct integrations with Xero, QuickBooks, MYOB, and Sage. If you’re not using one of these source accounting systems, then you can also import financial data into Fathom via Excel (.xlsx or .csv).

Using Excel as your source, you can import monthly, quarterly, or annual financial data. You can import a maximum of 3000 accounts and up to 96 months, or 8 years' worth, of financial data. We recommend importing up to 60 months, or 5 years worth, for the best performance.

📝 Note: While importing quarterly or yearly data into Fathom from Excel is possible, you must have monthly financial data to forecast in Fathom.

Typically, you would export a monthly Profit and Loss (Income Statement) and Balance Sheet report from your accounting system to Excel, then adjust it to the Fathom Import Template.

📝 Note: Excel companies will be automatically imported onto a Fathom Pro plan and cannot be downgraded to a Portfolio plan. Excel companies can access the Analysis tools, Reports, Forecast, and Insights Dashboard.

Import financial data from Excel

To import financial data from Excel into Fathom, go to your ‘My Companies’ page:

  1. On the My Companies page, select the green Add button.
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  2. Choose Company.
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  3. Select Excel.
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  4. Choose Standard Excel Company and click Next.

    1. If you do not want to report on financial data, only non-financial data, then you can import a non-financial entity.
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  5. Choose to import on a Fathom Pro or Portfolio plan and click Next.
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    🎉 Beta feature: The ability to import Excel companies onto a Portfolio plan is in beta. To enable this functionality, you must turn on the beta flag.
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    💡 Smart Tip: If you’re a triallist, we recommend choosing Fathom Pro so you can try out all of Fathom’s features during your trial. You can learn more about the plan options from our ‘Fathom Pro v Portfolio’ article.
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  6. In the following screen, you can:

    1. Download an import template in which you can enter your Chart of Accounts and financial results. You can also download an import template from here:

      1. Fathom financial import file (Monthly)

      2. Fathom financial import file (Quarterly)

      3. Fathom financial import file (Annual)

    2. You have the option to download our detailed Import Guidelines, which provide step-by-step instructions for creating your Excel file.
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      💡Smart Tip: Account Classification codes are required and Fathom-specific. Individual account codes (not classifications) are optional and can be left blank if you do not use account codes.
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      💡Smart Tip: If you need to flip the values of an entire account (e.g. from negative to positive or vice versa), you can add a minus sign '-' directly after and in the same column as the classification code.
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      ❗Notice: We recommend that your initial Excel file contain all periods of historical data that you'd like to use.
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  7. Once you’ve created your import file in Excel, return to Fathom.
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  8. Hit Click to upload and select your import file.

    1. You can import multiple Excel companies at the same time by uploading an import file for each company. All companies will be imported on the plan you selected in Step 5.
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      🎉 Beta feature: The ability to import multiple Excel companies at once is in beta. To enable this functionality, you must turn on the beta flag. You can import up to 10mb or 20 files at once.
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  9. Import company.

📝 Note: The currency for the Excel company will be assumed based on the country selected in the Organisation Settings. However, the currency can be changed after the company has been imported. The currency selected will only impact the currency symbol displayed, not the values.

Once your file has finished importing, you’ll see your company listed on the ‘My Companies’ page in Fathom. From there, you can access the Settings, Analysis, Reports, and Forecasting tools.

Continue setting up your company in Fathom

Update your financial data from Excel

🎉 Beta feature: The ability to bulk update multiple Excel companies is in beta. To enable this functionality, you must turn on the beta flag. You can always update Excel companies individually, following the steps below.

To update the financial data for your Excel company in Fathom, you’ll need to re-upload the Excel file.

  1. Go to Source Data of the company’s Settings.
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  2. In the Financials section, click the option to Update from Excel.
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  3. On the following page, you can download a blank import template or an import template (including existing data).
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  4. Add the new data to the downloaded file.
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  5. Once you’ve created or updated your Excel financials file, select Choose a file to upload.
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  6. Select your Excel file with the updated financials.

💡Smart Tip: To add financial data for a recently completed period, you can just supply the new data you wish to append to the existing financial range. You do not need to include prior periods.

However, many customers prefer to build upon a single Excel file containing all periods. This can be easier to manage and allows you to easily make prior period adjustments if required.

Next steps

Congratulations on importing your company into Fathom via Excel! Finish setting up your company for analysis, reporting, and forecasting by continuing the 'Getting Started Workflow'. Choose from one of the next steps below:

What you want to do:

Next step in the setup process:

Want to import a budget for your company?

Import a Budget from Excel

Don’t want to import a budget at this time, and are ready to begin setting up your Company Profile?

Set up your Company Profile

💡Smart Tip: If you want to consolidate several companies in Fathom, we recommend importing and completing the setup process for each company before creating a consolidated group.

Additional knowledge & common questions

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