Creating financial statements. Tracking performance metrics. Exploring business impacts. These are critical pieces of running and growing your business that, honestly, can be hard to find time to do.

These tasks that can shape your business strategy and growth don’t have to be daunting manual efforts. Smart fintech solutions have been sprouting up to make gathering, analyzing and acting on data even easier. Among these is Fathom, whose easy-to-understand visualizations and clean reporting makes working with data delightful.

What is Smart Reporting Powered by Fathom?

Smart reporting powered by Fathom is a set of financial insight and business reporting tools that are built into QuickBooks Online Advanced. Fathom’s financial reporting is integrated for all users of Advanced ​​– our favorite QuickBooks Online solution for growing small businesses that need more from their financial software.

You can get a 90-second overview of the Fathom reporting features available in QuickBooks Online Advanced in this video, along with a look at how the tools show up in your account:

If you’re already using QuickBooks Online Advanced, find the “Reporting” tab on the left-hand navigation, and look for the option to “Open smart reporting powered by Fathom.” You’re now entering the world of automated insights and reporting that can transform your business growth.

Fathom Smart Reporting Tools that Fuel Your Business Growth

There are a few tools that are especially useful for growing your business, including Cashflow, Trend, Goalseek and reports.

Cashflow Tool

The Cashflow tool gives you a high-level look at your operating cash flow, free cash flow and net cash flow, breaking down cash received and cash spent in a helpful chart. Each category is further broken down to highlight changes or line items that contribute to the cash flow. 

Understanding your cash flow and how much you have on hand can keep your spending in line, or let you know when it’s a good time to buy supplies, invest in a business expenditure or repay debts.

Trend Tool

Track performance over time with the Trend tool by using the key performance indicators (KPIs) you’ve defined, metrics that come ready for use, and accounts from your profit and loss statement, balance sheet or chart of accounts. Add up to five metrics per trend chart to view and compare your performance down to the month. Similar to financial statement forecasting, you can use budgets and targets in the Trend tool to project forward in time.

While financial KPIs are all included for tracking when you open up reporting, you can also import non-financial KPIs, watch individual accounts from your general ledger or build out formula-based KPIs.

Understanding your business’ past performance is a critical step in planning for the future. With all your QuickBooks data already imported and available for Fathom’s smart reporting, you have a complete historical picture to work from as you plan ahead. The possibilities are endless for the KPIs, metrics and accounts you can mix and match to identify the trends that are most relevant to you.

Goalseek Tool

You know those goals that you write down and forget to check back on, let alone measure progress on? Those are a thing of the past. Define your business goals in the Goalseek tool using any of 13 available metrics. Fathom tracks progress against your goals automatically, letting you know whether you’re on target and what variables are affecting the outcomes.

A great use of the Goalseek tool is to create a view that’s similar to cash flow forecasting by planning a goal result for operating free and net cash flows. Goalseek also provides accountability for the business goals you set, increasing the chance that you’ll mindfully achieve them.

Reports

Across smart reporting powered by Fathom, you’ll find beautiful visualizations that make it easy to understand your finances at a glance. Further customize and build out reports to get the most from the data at your fingertips. From profit and loss statements to benchmarking between companies, get the insights you need to know about your business – or businesses.

The tool makes it simple to share your data with others. Build out dashboards with the visuals that your team needs to monitor. Or create reports that are easy on the eyes to persuade your board of directors, stakeholders and investors, using the data that supports your analysis and action plan.

Tap into Insights To Transform Your Growth Today

If you have more questions about how QuickBooks smart reporting powered by Fathom works, check out the frequently asked questions, or reach out to the Certum Solutions team. We’re happy to show you the ropes and get you set up with the Fathom reporting features you need to power smarter business decisions.

If you’d like to get started with smart reporting powered by Fathom, you can sign up for Certum Solutions’ 12-month discounted rates for QuickBooks Online Advanced today.

A Special Offer - Can Expire at any Time!

For a limited time, we’re adding a special thank-you gift (see above) to customers who register for QuickBooks through Certum. You can check that out here!