Account Watch KPIs enable you to track any account from your general ledger as a KPI in Fathom. Creating an Account Watch KPI will make a key account’s results more visible because it pulls the account’s result from the general ledger and makes it accessible in the Analysis tools as a KPI.
This also allows you to easily monitor the performance of a specific general ledger account against budget or against target, viewing the actual result, comparative, and variance, all in one place.
Creating Account Watch KPIs
To create a non-financial KPI, go to Step 4 of the company setup and click ‘Create a KPI’. Then select ‘Account Watch’:
You can then set Target Type, and Category for the KPI. You will also have the option to add the new KPI to your KPI Library for use with other companies or groups:
Note: Custom KPIs can only be created at the individual company level. To use custom KPIs in a consolidated/benchmark group, add it to your KPI library. This will only be available for Admin level users. For more information on managing users, please see: User Roles and Permissions.
Using Account Watch KPIs
Once an Account Watch is created, it will automatically become an ‘active’ KPI in Step 4 of the company setup, and will display in the ‘KPIs’ and ‘KPI Explorer’ Analysis tools by default. The KPIs result will reflect the ending balance of the underlying general ledger account for any period you choose to analyse.
Account Watch KPI Comparatives
Account Watch KPIs can be compared against target, or against budget. This allows you to see variance vs. the exact budget value imported for an account, or to set a new target for the KPI. To set targets for KPIs, go to Step 5 of the company setup. When setting your targets, you will have the option to use an imported budget to automatically set targets.
For more information on setting KPI Targets and using the budget to set KPI Targets, see: Step 5: Targets