We started our journey by understanding the fundamentals of Fathom Smart Reporting and how it integrates seamlessly with QuickBooks Online Advanced. We explored how to access Fathom and navigate its user-friendly interface. We then delved into the different types of reports and dashboards available, such as financial reports, KPI dashboards, trend analysis, and benchmarking. By creating customized reports, you can present financial information in a format that is easily understandable and actionable. This enables you and your team to make informed decisions and drive business growth.
Furthermore, Fathom offers interactive features within its reports and dashboards, allowing you to drill down into the underlying data and explore specific transactions or accounts. This level of detail helps you identify the root causes of financial trends or anomalies and take appropriate action. As we come to the end of our guide, we hope that you have gained valuable insights into accessing, utilizing, and troubleshooting Fathom Smart Reporting within QuickBooks Online Advanced. By harnessing the power of Fathom, you can analyze your financial data, generate meaningful reports, and make informed decisions that drive your business forward.
Your customisations in the Company Settings flow through to the Analysis tools, Reports, and Forecast. With the above configuration, the ‘Germany’ parent class and the ‘Germany’ child class are considered separate classes; the results for ‘Germany’ will be displayed in two separate classes. You can also choose to enable ‘auto-sync’, which will automatically update your data from QuickBooks each day, to the nearest completed month. See articles customized for your product and join our large community of QuickBooks users.
You can still trigger a manual update at any time while automatic updates are on. In Fathom, Admin-level users and users with the ‘Add a company’ Advanced User Permission can import companies into Fathom. You can begin setting up once you’ve imported a company or companies into Fathom.
- You can update the class and location data that is being imported to ensure that any changes made in QuickBooks Online are reflected in Fathom.
- When you import a QuickBooks Online company into Fathom, your company’s Chart of Accounts will automatically be brought into Fathom.
- By integrating seamlessly with QuickBooks Online Advanced, Fathom Smart Reporting empowers users to effortlessly access and analyze their financial data.
- It offers a wide range of reporting options, including customizable reports, dynamic dashboards, and interactive visualizations.
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- Sharing Fathom reports promotes transparency and collaboration within your organization, allowing everyone to stay aligned and make informed decisions based on the same consistent data.
- These features allow you to perform sophisticated analysis, gain deeper insights, and stay proactive in monitoring your financial performance.
- Any unimported child division amounts will roll up into the appropriate parent division.
- Make sure to check your subscription plan to ensure that Fathom Smart Reporting is included or to upgrade if necessary.
- Whether you’re a small business owner, a finance professional, or an analyst, Fathom provides you with the tools you need to make informed decisions and stay in control of your financial performance.
It seamlessly integrates with QuickBooks Online Advanced, allowing you to pull data from multiple companies or subsidiaries into a single consolidated view. This makes it easier to compare and analyze financial performance across different entities. After completing the initial import of QuickBooks Online company data into Fathom, you can bring in any class or location data for divisional analysis and reporting. This will help you to filter your results further to gain more detailed insights into your classes, locations and departments. Additionally, Fathom provides options to schedule automatic report generation. This feature allows you to set up recurring reports and have them delivered to your email inbox at regular intervals, saving you time and ensuring you stay up to date with your financial performance.
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You can add fathom quickbooks online a budget directly from QBO to a company with financials sourced from QBO. While you can create multiple budgets in QBO, Fathom allows one budget to be connected at a time. By following these troubleshooting tips, you can resolve most common issues that arise while using Fathom Smart Reporting. Remember that ongoing communication with Fathom support and staying updated with the latest software releases and bug fixes can help ensure a smooth experience with the tool. Now that we’ve covered the process of creating and customizing Fathom reports, let’s move on to the next section and explore how you can share these reports with others.
Fathom Smart Reporting also offers a variety of visualizations, such as charts, graphs, and KPIs. These visual representations provide a quick and intuitive way to identify trends, patterns, and anomalies in your financial data. Whether you’re looking to track monthly revenue growth, analyze expense trends, or monitor the performance of specific product lines, Fathom’s visualizations make it easy to spot opportunities and challenges. One of the key advantages of Fathom is its ability to consolidate data from multiple sources.
FINANCIAL ANALYSIS SOFTWARE
Furthermore, Fathom allows you to create custom metrics and calculations based on your unique business needs. You can define your own formulas, ratios, and indicators to gain deeper insights into the financial aspects that are most relevant to your industry or business model. With Fathom, you can easily analyze key financial metrics, such as revenue, expenses, profitability, and cash flow. It offers a range of standard reports and customizable templates that enable you to focus on the specific aspects of your business that matter most to you.
You can also import Month-to-Date data for QuickBooks Online companies on a Fathom Pro plan. Once completed, you can see your QuickBooks company or companies listed on the ‘My Companies’ screen in Fathom. You’ll want to ensure your class tree hierarchy is set up correctly in QuickBooks to avoid double-counting in Fathom. Fathom identifies parent and child classes based on their relationship in QuickBooks, not based on name-matching.
Add a QuickBooks Online company to Fathom
With Spreadsheet Sync, you can upload and download QuickBooks Online Advanced information and use customizable templates for formatting your data. You can select the period range of data that you wish to retrieve from QBO – the periods that you wish to analyse and report on using Fathom. Fathom reports can be exported in various formats, such as PDF, Excel, or HTML, giving you the flexibility to share and distribute them as needed. Once you’re in the Fathom interface, click on the “Reports” tab to view the available report templates. It’s worth noting that Fathom Smart Reporting is an add-on feature within QuickBooks Online Advanced and may require an additional subscription.
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Fathom works with all QuickBooks Online versions, and comes free of charge with any US users who upgrade to QuickBooks Online Advanced. Most countries are compatible with Fathom, with the primary exception being QuickBooks Online France. After granting authorization, you can start exploring the various features and capabilities of Fathom Smart Reporting.
It is designed for accounting firms to get an overview of their entire portfolio of clients. You’ll also have access to a Fathom Pro demo company throughout your trial and once you sign up for a subscription. We also explored the various options for sharing Fathom reports, whether it’s exporting them in different formats, scheduling automatic delivery, or providing collaborative access.
Furthermore, we discussed some advanced features of Fathom Smart Reporting, including data consolidation, what-if analysis, and customizable dashboards. These features allow you to perform sophisticated analysis, gain deeper insights, and stay proactive in monitoring your financial performance. With these advanced features, Fathom Smart Reporting takes your financial analysis to the next level. By leveraging these functionalities, you can gain deeper insights, perform sophisticated analysis, and make well-informed decisions that drive business growth. With Fathom, you can unlock your company’s financial performance and gain valuable insights into key areas such as profitability, cash flow, and growth trends. Welcome to the world of Fathom Smart Reporting within QuickBooks Online Advanced!
When importing from QuickBooks Online, you can import up to 60 classes and locations into Fathom for a single company. Once imported, you can view this data in various charts and tables, including side-by-side financials and Fathom’s Breakdown Tool. Making it easy to get started, stay connected and get more out of your financial data. Lastly, we provided troubleshooting tips to help you address any issues that may arise while using Fathom Smart Reporting. Clearing the browser cache, checking your internet connection, and reaching out to Fathom support are some of the steps you can take to resolve common issues. Automatic updates will update your financials from QuickBooks Online once every 24 hours.
Intuit chose Fathom to be the exclusive reporting app for the QBO advanced offering in the US. Before we delve further into accessing and utilizing Fathom Smart Reporting within QuickBooks Online Advanced, it’s important to understand the core concepts and functionalities of this powerful tool. When you import a QuickBooks Online company into Fathom, your company’s Chart of Accounts will automatically be brought into Fathom. Fathom will detect if the company is using cash-basis or accrual accounting. Companies on a Fathom Pro plan have access to the Company Settings.