Financial Consolidation software

Q: Does financial consolidation software integrate with other accounting systems?

Fathom's financial consolidation software connects with source accounting systems that you can automate regular consolidated reporting from. These include: - QuickBooks Online - QuickBooks Desktop - Xero - MYOB AccountRight - MYOB AccountRight Live. This will make it easy to get started, stay connected, and get more out of your data. See all our integrations. (https://www.fathomhq.com/integrations).

Consolidated financial reporting, made easy

Effortlessly consolidate multiple entities with speed, flexibility, and accuracy with our financial consolidation software.

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Trusted worldwide for over 10 years

80,000+ businesses use Fathom to forecast, report and consolidate

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Save Time

Accurate consolidations – in minutes not days

Spend less time consolidating your financial data, and more time reviewing your results.

Save

14 hours

each reporting cycle

* The average time our customers save when compared to alternative consolidation methods.

No more fiddly spreadsheets

Eliminate manual process and improve accuracy

Eliminate the errors and simplify the complex task of advanced consolidations. For example, inter-company transactions or consolidating in multiple currencies.

Streamline Workflows

Always up-to-date consolidations

Our financial consolidation software stays connected with your source accounting systems so that that you can automate regular consolidated reporting and schedule the creation of reports.

FLEXIBLE

Multi-currency and multi-platform

Fathom brings together results from multiple different accounting systems. And if your group reports in multiple currencies, it’s easy to convert results into a single presentation currency.

Software that is more than just effortless consolidated reporting

Custom reporting

Bring together results from multiple companies into your custom reports.

Consolidated budgets

Consolidate your budgets, then easily create actual vs budgets variance reports.

95+ currencies

Consolidate across 97 currencies, using provided exchange rates or specify your own.

Eliminations

Apply inter-company eliminations to see the true business position.

Custom Chart of Accounts

Customise your consolidated Profit and Loss and Balance Sheet layouts.

Frequently asked questions

What is the maximum number of companies in a consolidated group?

Fathom can consolidate up to 300 entities in a single consolidated group. If you are looking to consolidate more than this, get in touch with our team and we’ll see what we can do!

Does each company require a consistent chart of accounts?

A consistent Chart of Accounts isn’t necessary, but it is recommended. This will help ensure your accounts are correctly consolidated across all of your entities in the group.

Can I consolidate data from different accounting systems?

Yes! You are able to consolidate entities between Xero, QuickBooks, MYOB or Excel.

Does Fathom support eliminations (eg. for intercompany transactions)?

Fathom does support inter-company eliminations. You can eliminate entire accounts from any underlying companies, or apply specific-value adjustments to accounts.

Are the consolidated financial statements audit-ready?

No. Fathom is designed as a management reporting tool for internal reporting, rather than as a statutory reporting tool. However, you can use Fathom to assist in preparing consolidated financial statements or reports that are audit-ready.

What is financial consolidation software?

Financial consolidation reporting helps businesses to eliminate the time-consuming manual process of consolidating their financial data.

Learn more about financial consolidation software in our webinar: Save time and add value with consolidations

Can financial consolidation software handle multiple entities and subsidiaries?

Fathom's financial consolidation software brings together results from multiple entities and subsidiaries into customized reports.

Fathom is useful for businesses with multiple entities. In fact it can consolidate up to 300 entities in a single consolidated group.

What types of financial data can be consolidated using this software?

You can combine all of your entities using the same currency or from different currencies into a single base currency for a consolidated group.

The consolidation process will include the following: Actual data, budget data, financial and non-financial KPI data and GL accounts.

Does the consolidation feature support partial ownerships & minority interests?

Fathom does not natively support partial ownerships or minority interests. However, you can import your data through Excel as a workaround that would allow you to achieve this.

Can I perform budget vs. actual reporting for my consolidated group?

Absolutely. You can include a budget for the entire group, or roll up individual budgets from each entity. You can then perform actual vs budget analysis in our reports and dashboards.

Can I consolidate companies which report in different currencies?

Fathom supports multi-currency consolidations of up to 50 entities. Get in touch with us if you would like to consolidate more entities than this.

Which currencies does Fathom support?

You can use up to 97 different currencies for individual reporting and multi-currency consolidated reporting in Fathom. See the help centre for the full list of supported currencies.

Can I specify my own exchange rates for currency translations?

Yes. Fathom allows you to override our default historical exchange rates with your own custom exchange rates. Our default exchange rates are sourced from openexchangerates.org.

How does financial consolidation software benefit businesses?

Fathom's financial consolidation software offers the following benefits for businesses:
- Removing time-consuming data consolidation with accurate reports in mere minutes
- Eliminating manual processes
- Simplifying complex tasks
- Removing the need for fiddly spreadsheets

Does financial consolidation software integrate with other accounting systems?

Fathom's financial analysis software seamlessly integrates with leading accounting platforms, including:
- Xero
- QuickBooks Online
- QuickBooks Desktop
- MYOB
- Excel
- Google Sheets
- Access Financials UK

This will make it easy to get started, stay connected and get more out of your data. See all our integrations.

Can financial consolidation software handle complex intercompany transactions?

Fathom's financial consolidation software supports eliminations for intercompany transactions.

With Fathom, businesses have the capability to eliminate entire accounts from any underlying companies,
or apply specific-value adjustments to accounts.