Financial analysis is one of the most important aspects of any business as it helps to make informed decisions about their finances. By understanding a company’s financial health, managers can make informed decisions about where to allocate resources and how to improve performance. Fathom is a management reporting, forecasting, and financial analysis solution, which assists businesses in corporate performance evaluation, trend monitoring, and opportunity identification. The analysis tools provided by Fathom include cash flow analysis and a summary of all KPIs (Key Performance Indicators) that shows whether they have been successfully accomplished in the current period. Its Goalseek feature allows users to modify numerous factors and observe how those changes would affect a KPI. In this article, we will discuss how to integrate Fathom with QuickBooks.
What Are the Advantages of Integrating Fathom with QuickBooks?
These are the advantages of integrating Fathom with QuickBooks.
- Allows users to prepare consolidated financial statements for companies that operate in more than one country.
- Alerts the users when a KPI result exceeds a critical threshold, such as cash reserves dropping below a preset acceptable balance.
- Using breakdown analysis, users can analyze the performance of various company components, such as divisions or locations, and produce reports regarding the effectiveness and profitability of each sector.
- Provides access control, which allows managers to restrict who can manage, view, and edit reports with granular permissions.
Steps to Integrate Fathom with QuickBooks
Follow the given steps to integrate Fathom with QuickBooks Desktop.
- Log into your Fathom account.
- Navigate to the “My Companies” page, click on the “Add” option, and select QuickBooks.
- Next, select “Launch the Fathom Desktop Connector” under QuickBooks Desktop.
- Run the downloaded Fathom Desktop Connector.
- Enter your Fathom login credentials and select the account that you want to integrate with QuickBooks and click “Continue.”
- Now, log into your QuickBooks Desktop account as an administrator.
- Open the QuickBooks company file, which is to be integrated with Fathom.
- Within the Fathom Desktop Connector, click “+ Add Files” to select your QuickBooks file. It will integrate the same file, which is opened in the QuickBooks Desktop.
- A QuickBooks certification window will pop up, select “Yes, always; allow access even if QuickBooks is not running” and click “Continue.”
- A QuickBooks file will be listed in the Fathom Desktop Connector.
- Finally, select “Upload to Fathom” to complete the integration process.
Apps4Rent Can Help with Fathom and QuickBooks Integration
Integrating Fathom with QuickBooks can help businesses manage their financial operations efficiently using various capabilities such as cash flow analysis, breakdown analysis, and many more.
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