Building Custom Financial Statements in Fathom
To build a custom financial statement in Fathom, you may use a custom data table as your framework for creating the exact layout of rows, subtotals, and columns you’re wanting to view. Before you begin building your custom table, however, there are just a couple of things to note and prepare.
Before you Begin
Firstly, for any sub-totals or account groupings you'd like to include in your custom financial statements, you'll need to create Formula KPIs that sum the accounts in question. For example, if you'd like to break out your expenses into 2 categories, or add 2 subtotals to the expense section of your P&L, you'll need to create 2 separate Formula KPIs, which each sum the relevant expense accounts you'd like to roll up.
You should name these KPIs whatever you'd like the subtotal line to display, as these KPIs will later be inserted to represent your ‘subtotals’ or groupings.
Eg. “Staff Expenses” = (Expense 1 + Expense 2 + Expense 3 + …)
The below guide provides detailed information on creating custom KPIs in Fathom:
It’s important to note that these layouts, subtotals and account groupings are entirely defined by the user, so we highly recommend you carefully review their subtotal formulas to ensure all relevant data is being included in the statement. This is especially important in Consolidations, where Formula KPIs added to your KPI Library may not necessarily be including variables or pulling data from all underlying companies in the group, depending on the way these KPIs were set up.
Building the Statement
Once you’ve determined the subtotals and account groupings to include in your statements, the next step will be to start building your statement, in the form of a custom data table. You can create a custom table in the report editor by adding a new component to your report. From the component gallery, navigate to the "Tables & Financials" section, select "KPIs" from the 'Rows' dropdown menu, and insert any of the KPI data tables as a starting point.
Once inserted into your template, you will be able to create a custom financial statement by "editing" this table to your liking. It’s recommended that you begin by removing all of the existing KPIs in the table, from the 'Rows' section of the component editor. Then, you'll be able to start from scratch to build out, line by line, your custom financial statement by adding new rows to the table, starting from the top of your statement.
You may wish to begin by adding individual accounts as new rows (eg. beginning with revenue accounts at the top of a P&L). Then, when you reach a point where you'd like a subtotal of accounts, you will add one of your custom Formula KPIs below the relevant groupings of accounts (i.e. the accounts being summed in the Formula KPI).
In the "EDIT" menu, you may click the 3 vertical dots next to a row, and select the "total row style" option to make the row appear bolded and underlined, as a subtotal row.
The example below illustrates these concepts with a subtotal of expenses:
If you do not wish to show any account-level detail in your statement, you may build out your custom table using only custom KPIs. You may also use any of Fathom’s 'standard' summary P&L and Balance Sheet groupings, to include more standard/general lines like Total Revenue, Gross Profit, Total Expenses, Operating Profit, Net Income, etc.
Finally, once you’ve built out the rows to your liking, you'll be able to customize the columns in your data table to show prior period comparatives, trends, or variance from targets/budgets.
Once you’ve completed your custom financial statement, we recommend looking it over to ensure that all desired accounts have been included, subtotals are summing the correct accounts, and the statement as a whole ties out or balances.
Additionally, if the template housing this custom financial statements is going to be shared with other companies in your Fathom account, please note: Unless the other companies have identical charts of accounts and Formula KPIs in their setup, the custom financial statement may need to undergo considerable editing (after ‘duplicating’ the template within the new company, to ensure any changes do not affect the original template) to ensure accuracy.