Setting up Fathom within QuickBooks Online Advanced

Hi there, Linda Artesani, Artesani Bookkeeping. So I decided to shift gears this week. I had been doing a series on law firms and how you get started with your first attorney client. But I started thinking about some of the areas that I think are really what I'm finding with my community, with the community that we have, and areas where people are struggling with, especially from doing some of the webinars with Matthew is that people are really struggling to learn Fathom. And I decided that this would be the beginning of a multi-part series. I'll take it in small bite sizes from setting up Fathom from the very beginning to working in the program and starting to build some of the reports. So we'll learn, um, I'll be able to show you how to use this tool, which is like your magic tool to really show business owners how you can work Successfully. So when you start to get into these larger firms, these more mid-market firms that have multiple business owners, it adds a different layer of complexity onto the whole file, right? So accounting is accounting, but when you start to get bigger and you start to have bigger firm, more employees, things can get out of control, especially cost-wise. Even with the sales, you can really start to fine-tune and figure out how the sales are going. A lot of attorneys that I work with, they just work on the law that they're— what they've wanted to specialize in, but sometimes they don't stop to take a look and dig in to figure out what is really working and where it may be more profitable. So the same thing in any industry, right? So if you're a contractor, what are you selling that gets you more money and where is the best benefit for the business and for all the partners, all the business owners? So that's what we're gonna get into the next few weeks and I hope it's helpful for everybody as we start to dig in. I'm going to start right with settings. And we'll jump into a little bit of reports here to start some of the things that I've discovered when I've worked in the program. And then we'll start to build into deeper as we go through the week. So I'm going to share my screen. So here we are in my QuickBooks Online Advanced file. I'm just going to shorten and call it QuickBooks Advanced. So that would make it a lot easier. So when you, you know, you're in a QuickBooks Advanced file by finding that you've got Priority Circle up here, and then you'll know when you get in here that there's more things to follow. Now I have a demo file and I'm on part of beta testing. So this revenue streams is something new. It's some data points that are really helpful to the business owner, tracks the sales, tracks the sales by product or service. So that's a really cool feature. It'll be out very shortly. So we're still beta testing that one. But I'm really here to teach you about Fathom. So we're gonna come over to reports. And I'm going to start with setting it up. And then we'll get into a couple of reports. And then we'll end this this week. And then we'll dive even deeper next week. So here's report. You'll see smart reporting, and that's the smart reporting by Fathom. And they've got this little icon that's going to take me right to Fathom. So here we are in Fathom, and it took me right into the KPI page for some reason. I'm not quite sure why. So if we first log in, once you've gotten into here— maybe it's because I've already set it up— you want to come over to the gear on the right. So you can see organization settings, user management, account billing, KPI library, and delete or a company or a group. So I'm going to come right into Organization Settings. We'll start right at the top. So this is where you're going to fill in, you know, your address. And this is because my company, Artisani Bookkeeping, Artisani Management Services, the actual name, does not have Fathom attached to it. So I don't— I'm not paying for Fathom for my own business, and it's not in QuickBooks Online Advanced. So that's why you're going to see where it says to change or upgrade your Fathom plan, please visit the page. Because I don't have that. I'm only getting it because it's part of QuickBooks Online Advanced from my demo file. So come down here, I wanted to put my logo in here. So when I clicked to put the logo in, right away, it said the logo was too big, it really doesn't allow for a big logo at all. So I'm going to give you a little tip here, you can go to an online image resizer. It's resizeimage.net. And then you can just upload your image. And then I just came down here and said, give me 50%, because I could see how many how big of, how many kilobytes it was, which you can see was 5.4 and it only allows for like under 4. So I was able to resize my image at 50% and you can put whatever you want, a JPEG, PNG, GIF, you can just select the one you want. I just, I always select PNG. It's a clear image and I was able to upload it. So as you can see here, when I got over here, it shows my logo. And why do I want that? It's going to brand my Fathom account, right? So When you use Fathom, you can print reports to PDF to give to the client. And it's a, it makes a beautiful report. So you can start to customize templates, especially if you're in a niche-based business, you can template out and use them across the board with any customer that you have that's in Fathom, which is really cool. But for the most part, giving a client these reports is sometimes pretty useless because they really don't understand. They get these reports and they don't always make a lot of sense to the client. It's much more beneficial to sit with them in a meeting. You could do a Zoom meeting or even go in person if they're local to you and go through this. And that's why I want my logo, my brand on it so that I can go through the steps of showing the reports. And then I'm able to— it has my URL. I can put my URL in here. I can pick a color if I want to pick this turquoise, I can. And then I wanted it to be in a letter. So the paper size, you can select all this. I changed organization. It's spelled because this is a company that's in Australia, had the S instead of the Z. And you'll see down here that it also says in the disclaimer that, you know, it's got a little CYA letter. And you can see where organization is spelled the way it is in Australia. You have to leave that there because it won't be able to find it. So don't rename that, but you can rename your own footer. So let's go to— so I just did that and then I hit save. And you can have this other terms of use, pretty much just legal language, right? So let's go to the user management part. So I'm going to come over here. This is where I have all the users in this file, which is just me, and you can invite your client in here. Now again, same thing, it's up to you. It really depends on the client, right? If a client wants to get in here, start to play around with reporting, or maybe you've got a client that has somebody in their organization that works as a CFO, does CFO services within the firm, or if you've got even a bookkeeper wants to get deep into some of these settings, and maybe they work in the firm, invite them in, they have it. The business owner, you can obviously invite in if you want to. So you have that ability. I can also invite somebody in my own firm into this file. So you just click Invite Person and then you're there. Let's go to Account Billing. I mean, straightforward. This came with Add Another Company. I can add another company here, QuickBooks Online Advanced, if I have another client, which I have a couple that are outside this demo file. I've got Several, actually, I could invite them in here, and that will just put them all under my account. So when you get a client with QuickBooks Online Advanced, I cannot pound this into your head anymore. Strongly tell you that as soon as you get that client, click in and get Fathom set up for yourself. Because if the client gets in there and sets up their own Fathom account, you're going to have to go back to the client and say, hey, Can you take that off and let me put you in mine and then invite you in? And it just— it's a conversation you really don't want to have. It's the only way you can do it. You can't just swap it out. Once they've taken the steps to set up their own Fathom account, you're going to have to have the conversation. You can't just take them off and take over. They have to actually invite you into it, and then you can take it from there. So just the first thing you do, first step, you get your first QuickBooks Online Advanced file, go right into this spot. Fathom, set yourself up, you'll be very happy that you did. Back to my company. So I'm going to have a demo company, I'm going to have the Proper Trust, which is my company, my, my demo company in here. And then there's also the demo for Fathom. So we can come here and see that I've also made some reports. So there is a way to get into this reporting here on this card. As you can see, it moves, right? I've got the analysis card and the reporting card. So this is the first place you want to go in Fathom because there's templates So the hard work is done for you. You can start to play around with these. And once you take one of the templates, it'll create its own little place. And I just think this is a fun place to start because it's already pre-made for you. So as you come in here, there's draft reports. Once you make it a published report, then people get to see it from the outside. So once it's draft— if it's draft, it's always in here. So you can see I've got one draft report here. You can come in here. So this is where you can go and make your own custom ones, or you can do predefined. So this is where the templates are that are already here for you. So there's a monthly performance report, I can create this, I can create a quarterly. This file doesn't have a lot of data in it yet. It's got less than a year, but it's got now 10 months. So I can play around with that revenue analysis, I can create the reports. Let's just create the revenue analysis one. Remember, this is already made for me. And of course, here's my report. It's pretty simple. It's got the variance here. I really like it. It's got the variance by the dollar amount or the percentage amount. So you can see where I was here for September. So I'm doing really well compared to August. And that's just from me playing around with the data and making other files and, and things in here. Because again, this is a sample file, one that I'm creating. So advertising and marketing was $869. In August, it was zero. So I did really well there. I didn't spend any money on dollar— on advertising. It's something that might jump out at you. And we'll get into some of that because there's other places where you can really watch some of these categories. And advertising and marketing is definitely one you want to watch. It's one that you can kind of see and work with KPIs to see if it's working for a client. So many ways to track. Bank charges were $27. In the prior month, they were zero. So you can just come in here and when you see things like it went up, it's nice and red. So if you're not colorblind like my friend, it's pretty straightforward when you see red. So what I also wanted to show you, once you've set this up, this report up, so this, I'm just gonna pull this monthly report here. Once you set this up, you can see that I've already created the report, I've already pulled it up as a draft. Now I'm pulling it up in the system. And here's where you can see the branding. It's a little fuzzy, but you can see that my branding is there. So if I wanted to present this to the client, I would do this not here, this is where I'm going to edit it and add my own touches to it, right. So here's my drafted report. So we just created a couple of them here. And this is where they kind of stay until you publish them. So I come into this monthly performance reports, Probably the best one in this file because there's not a lot of data in here. And this is just kind of the general overview. Sometimes it can get a little wordy and a little bit hard for the client. So maybe you want to come over to the layouts and pick one like 4 revenue charts. Pretty cool. So sometimes it's easier for the client to interpret, depending on the client, this over numbers, right? So maybe I don't really want this one here, but I want to switch sides and move this one over here. I have the ability just to drag and drop, which I think is really cool. And this is part of that 2.0 that I talked about in the beginning, how you have to turn the setting on for to turn on 2.0. So this is exactly what you can just kind of move around and change it around however you want to do it for your presentation. So it makes it easier here. Got the little icon here so I can change the— and under Options, I can rename, duplicate, and delete. So that's just a little taste of what's in here. And I hope it helps you to kind of get a gauge on how you can manipulate the templated reports and really make them your own. I just wanted to give you a little taste of where you go in this and how you get started, because it is a little bit confusing when you first get in here, because there's the settings on the right, which really are applicable to your firm, and then the settings on the left where you can go into really diving into a lot of the settings for Fathom for your client, which is really what you're in here for if you've got a client on QuickBooks Online Advanced. So a little taste. This was really only a little tiny taste. We'll get deeper and deeper as the weeks go on. But I wanted to at least show you how to set up the settings as an accountant advisor. And that way you can have that firm view. And I wanted you at least to see some of the settings, how to get your, get your logo on there as well. And also just get into the templates. So if anything this week, any takeaway that you could take from this week's Play around in the templates. You can't hurt anything. They're there. They save as a template, save them in draft, and then you can play around with that. So you're ready when you're ready to make some reports for your clients. You've got them already predefined and they're already professionally set up so you can really play around and add your own flair to them. So on that note, until next week.