From XU Magazine, 
Online News

Consolidating financials used to be painful, not any more

July 7, 2020

Processing consolidations manually in spreadsheets takes time and can often be prone to error. Not only that, but the information might not always be the most up to date. And the problem only gets worse if you add in things like different currencies, inter-company transactions and more than a handful of entities.
This article originated from the Xero blog. The XU Hub is an independent news and media platform - for Xero users, by Xero users. Any content, imagery and associated links below are directly from Xero and not produced by the XU Hub.
You can find the original post here:

At Fathom, we eat these problems for lunch. Our consolidation functionality saves you time – and money – so you can spend it on doing things you're good at, like growing your business or practice.

Thousands of companies in over fifty countries use Fathom to compare their subsidiaries, branches or franchises. Fathom enables you to quickly and easily aggregate the financial and non-financial data of underlying entities, giving you an accurate, easy to manage view of the entire group’s financial results.

Consolidation in a few clicks

Consolidation, along with Benchmarking, is one of the most powerful features of Fathom. And so if you missed our recent consolidations webinar, don’t worry, we’ve made it available to watch again. Watch now to learn more about the following:

Watch the Webinar

The benefits of using Fathom to consolidate related entities

  • How much time will you save? Typically 14 hours per report
  • Exit Excel: there's no value in checking the formulas in an excel workbook, easily determine what the numbers mean and how to act on them.

How to create a consolidated group in Fathom

  • Fathom is quick, easy, and aggregates across source system and currency
  • You can have up to 300 entities in a group (50 if multi-currency), which means you’ve plenty of room to grow

Features that allow you to edit exchange rates in a multi-currency consolidation

  • Fathom supports nearly 100 popular currencies
  • Fathom seamlessly handles currency conversion
  • Manually edit exchange rates for total control

Features which allow you to eliminate inter company transactions

  • Set up intercompany eliminations for loans or management fees
  • Remove the impact of transactions between companies in a group
  • Get a more accurate view of consolidated performance

The Reporting and Analysis functionality for consolidated groups

  • Beautiful reporting at subsidiary and consolidated level
  • Compare subsidiaries for quick insights and improvement opportunities
  • Analyse results and take action

Why leave it there?

To learn more

Straight to your inbox

Subscribe to our newsletter for updates as they happen
We hate spam too. We NEVER sell our mailing list.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.