Unfortunately, the short answer is no; there is no built-in tool for consolidating multi-entity business financials in QuickBooks Online today.
However, there are some great QuickBooks Online consolidation tools out there💡
One of them is LiveFlow, which we'll cover here.
LiveFlow is the easiest way to consolidate data from multiple QuickBooks companies into one consolidated report. It's also the fastest and most reliable way to create real-time consolidated financial statements. We have customers creating consolidated financial reports in under 3 minutes!
Don't believe us? LiveFlow is highly recommended and used by hundreds of accountants, finance teams, and business owners.
How does it work?
LiveFlow connects your QuickBooks Online accounts to Google Sheets or Excel and lets you import your profit and loss, balance sheet, cash flow reports (and other QuickBooks data) directly into your spreadsheet. Your data then updates automatically and is available to share with clients or stakeholders.
Yes, that means no more manual exports to Google Sheets or Excel.
LiveFlow takes all the tedious repetition out of consolidated financial reporting and turbocharges your reporting workflow.
Have questions? Learn more about LiveFlow's new consolidation tool here.
How do I consolidate multiple companies with LiveFlow?
- Set up a 30-minute demo with our Customer Success team to learn the basics of LiveFlow
- Once installed, connect your QuickBooks accounts (you can connect as many as you like)
- Import your financial reports from QuickBooks (for instance, a Profit and Loss report)
- Consolidate the reports together with our free Consolidated P&L Template for Google Sheets and Excel
- Done!
You will now have a fully automated QuickBooks consolidation workflow that will save you time and stress ever month!
Our average customer saves 192 hours per year on reporting tasks.
Learn how to consolidate multiple QuickBooks companies here in the video
Here are some key benefits of using LiveFlow for multiple-entity consolidation
- Live, automated dashboards mean you no longer have to do manual consolidation. Save hours per month!
- Create custom reporting for clients and stakeholders that captures every metric and KPI needed for your specific FP&A use case
- Share access to the Google Sheet or Excel document once. True set-it-and-forget-it reports! Never deal with nagging clients or stakeholders again.
- Align your whole company under one source of truth with consolidated reporting.
Import live data from QuickBooks to Google Sheets
Here is a range of financial data workflows you can automate with LiveFlow:
- Automate budget vs. actuals and create a real-time budget vs. actuals dashboard
- Get an overview of your Profit and Loss by department with our P&L by Class template
- Consolidate multiple A/P reports from various QuickBooks entities into one with our Consolidated A/P Template
Which QuickBooks data can LiveFlow help me import?
LiveFlow connects to almost all QuickBooks reports, including:
➞ Profit & Loss
➞ Profit & Loss Detail
➞ Balance Sheet
➞ Balance Sheet Detail
➞ Cash Flow
➞ Account List (Chart of Accounts)
➞ Accounts Payable (A/P) Aging Summary
➞ Accounts Payable (A/P) Aging Detail
➞ Accounts Receivable (A/R) Aging Summary
➞ Accounts Receivable (A/R) Aging Detail
➞ Trial Balance
➞ General Ledger
➞ Sales by Customer Summary
➞ Income by Customer Summary
➞ Transaction List
➞ Collections Report
➞ Bill Payments List
➞ Customer Contact List
➞ Sales by Product/Service Summary
➞ Expenses by Supplier/Vendor
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