Summary
This streamlined monthly report brings together consolidated financials across entities in just 10 minutes. Built in Fathom, it’s designed to cut through complexity and deliver clarity fast. Designed to help teams close the books on Day One and shift straight into planning and action.
What’s included:
- A high-level summary of P&L and Balance Sheet for each entity
- Side-by-side comparisons to spot performance gaps
- Automated consolidations (with FX handling where needed)
- Variance analysis against budget or prior periods
- Group-level insights to highlight key trends
- Custom commentary to highlight standout results
Why it’s effective
The report simplifies multi-entity reporting without losing depth. It gives stakeholders what they need, fast, while freeing up time for more strategic conversations. Tyler’s team uses it to complete consolidated reporting at speed, delegate with confidence, and shift client conversations from “what happened” to “what’s next.”
Designed for
Designed for CFOs and advisors managing clients or businesses with multiple entities. Ideal for firms juggling complex group structures who want to deliver consolidated insights quickly and visually, without cumbersome spreadsheet processes.
How to create this report in Fathom
Follow these steps to build Tyler Caskey’s 10-Minute Consolidations Report in Fathom:
1. Simplify your chart of accounts
Start by streamlining the chart of accounts across entities. Tyler recommends minimising complexity, especially around inter-company transactions.
- Use separate general ledger codes for internal sales and COS to allow Fathom to automatically eliminate them during consolidation.
- Group-related items (eg people costs, overheads) for a cleaner, single-page P&L.
2. Create your consolidated group in Fathom
Connect each entity’s accounting data to Fathom and set up a Consolidated Group. Fathom will automatically handle FX conversions.
To enable automated eliminations, go to your Chart of Accounts and tag the relevant inter-company accounts for elimination. Fathom will then apply these automatically in each reporting period.
For more complex eliminations (like partial eliminations or those in a multi-currency group) you can import an eliminations journal via Excel each month. This ensures your consolidated data stays clean, consistent, and ready for reporting.
3. Design a clear, high-impact report
Build a single-page report layout using Fathom’s report editor. Include:
- Consolidated Profit & Loss and Balance Sheet
- Entity-by-entity comparison tables
- Key metrics like revenue, gross profit, and net margin
- Variance tables (Actual vs Budget or Prior Period)
- Custom commentary fields to highlight 2–3 insights including any arising issues, opportunities, or red flags
4. Use Mayday to balance inter-entity loans
Tyler uses Mayday (a Xero-connected tool) to flag imbalances in inter-company loan accounts before consolidation.
- Run Mayday mid-month and before close to avoid last-minute surprises.
- This ensures your inter-entity balances are aligned before you generate the report.
5. Automate and customise
Save your layout as a Fathom report template to reuse each month.
- Fathom pulls in up-to-date data from your accounting platform and refreshes the report at the click of a button.
- Customise account groupings and labels to match your internal language and stakeholder preferences.
6. Delegate with confidence
With everything templated and simplified, junior team members can own the report production.
- Commentary sections make it easy for reviewers to quickly understand key takeaways.
- Tyler’s team closes and completes consolidated reporting on Day One of the new month, then moves straight into planning.
7. Present live or share digitally
Tyler prefers presenting live in-browser, making use of Fathom’s interactivity to drill down into data where needed.
For stakeholders who prefer static copies, export as a clean, branded PDF.
Customer spotlight
Tyler Caskey, Partner at TheBeanCounters
With experience as CFO across multiple businesses and a background at Deloitte and KPMG, Tyler brings deep expertise in process redesign, automation, and systems transformation. Now a Partner at TheBeanCounters, he helps teams radically reduce the time cost of finance by cutting manual work and building fast, efficient reporting systems.
He’s implemented Day One month-end reporting across dozens of businesses and is passionate about turning complex finance functions into streamlined engines for insight.
"I can produce a consolidated P&L and balance sheet in one page. The professionalism compared to what I used to do in Excel is mind-blowing."
Watch Tyler’s full Expert Series episode here.
