Monthly client report packs with Fathom for accountants

Clients who pay for management accounts expect a report with a commentary every month, and building the pack in a spreadsheet takes an hour. If you do 30 clients, that's 30 hours a month.

Fathom connects to accounting software including Xero and syncs daily. Its Pro plan produces branded client reports, forecasts and KPIs, and a Commentary Writer feature, listed under Pro, that the vendor describes as AI commentary. You review the figures, edit the commentary and send. Pricing is $450 (about £338) a month including 25 companies, then $17 (about £13) for each extra company.

A six-person practice in Manchester produces monthly management accounts for 30 Xero clients. It switches to Fathom Pro: the 25 included companies plus 5 extras.

About 17.5 hours a month saved (35 minutes x 30 clients = 1,050 minutes), worth around £788 if staff time is worth £45 an hour. Cost is $450 + 5 x $17 = $535, about £401 a month; the page also shows $18 a company, which would make it $540 (about £405). It only pays back if clients are paying for these reports.

1. 1Start the 14-day trial with three clients' Xero files.
2. 2Compare Fathom's figures with the accounts you would have reported, before using them.
3. 3Set the branding and one report template for all clients.
4. 4Edit each commentary yourself before you send it; remove anything you can't back up.
5. 5Count your reporting clients and compare to the 25 included before deciding on Pro.

• AI commentary can describe a movement wrongly or miss context. A qualified accountant reads and takes responsibility for each report.
• Prices are listed in USD by default, with GBP selectable; check the GBP figure in the basket, since the exchange rate moves the sterling cost.
• Pro upgrades automatically as you add companies, but downgrades are manual.
• Portfolio at $67 a month for 100 companies is cheaper, but advanced reporting and forecasts need Pro on each company.