Before You Start

This guide assumes you have active Xero and Fathom subscriptions and administrative access to both platforms.

Overview

40 min
Setup Time
Advanced
Difficulty
Weekly
Maintenance

What You’ll Learn

  • Seamlessly connect your Xero accounts to Fathom
  • Define and track custom non-financial KPIs
  • Design insightful financial and operational dashboards
  • Generate sophisticated multi-period comparison reports
  • Share interactive reports with stakeholders and investors

1. Preparation Steps

Before designing your dashboards, ensure these foundational elements are in place:

Required for Setup

  • Xero financial data is accurate and up-to-date
  • Active Fathom subscription with appropriate user roles
  • Clear understanding of your key business objectives and metrics

Optional (but recommended)

  • Defined strategic objectives for your organization
  • Access to non-financial data sources (e.g., CRM, HRIS)
  • Pre-agreed reporting frequency and audience with stakeholders

2. Understanding Fathom’s Capabilities

Fathom extends beyond basic financial statements to provide comprehensive business intelligence.

Financial Reporting Focus

This aspect focuses on traditional accounting data from Xero.

Pros:
  • Automated Xero data synchronization.
  • Comprehensive financial statements.
  • Budget vs. Actual analysis tools.
Cons:
  • Limited non-financial data import.
  • Can be basic for complex consolidations.

Operational Insights Focus

This aspect leverages Fathom’s custom KPI and forecasting tools.

Expert Tip: For a holistic view beyond just financials, leverage Fathom’s custom KPI features. This provides the nuanced insights investors and management truly value, transforming raw data into actionable intelligence.

3. High-Level Integration Workflow

The process involves connecting Xero, importing data, defining key metrics, and building your visual dashboards.

Here is a sample code block to show how a KPI definition might be structured.

{
  "kpi_name": "Customer Acquisition Cost",
  "category": "Marketing",
  "calculation_method": "custom_formula",
  "formula": "(Marketing Spend / New Customers Acquired)",
  "data_sources": ["Xero", "CRM_Manual_Input"],
  "target_value": 150.00
}

4. Step-by-Step: Setting Up Fathom

  1. 1

    Connect Xero to Fathom

    Authorize Fathom to securely access your Xero organization(s). Follow the in-app prompts for authentication.

  2. 2

    Import your Financials

    Select the Xero accounts and desired reporting periods to import. Verify data integrity post-import.

  3. 3

    Define Custom KPIs

    Create and track non-financial metrics specific to your business model and strategic objectives.

  4. 4

    Build Dashboards & Reports

    Design visually engaging dashboards and sophisticated comparison reports for your audience.

Common Error: Wrong Account Classification

Ensure your Xero accounts are correctly classified (e.g., Revenue, Expense, Asset, Liability). Incorrect classifications can lead to misleading financial reporting and KPI calculations in Fathom.

5. Testing & Validation

Dashboard Validation Checklist

  • Verify financial data in Fathom matches Xero
  • Confirm custom KPI calculations are accurate
  • Review dashboard layouts for clarity and usability
  • Generate a multi-period comparison report for consistency
  • Share a test report with an internal team member for feedback

Need Help?

Get Expert Support

Having trouble building your dashboards or interpreting your KPIs? Our team of financial reporting experts can assist.

Contact Us