Best multi-entity accounting software
Before you migrate every company to an ERP, check whether a reporting layer solves the problem for a fraction of the cost.
Quick answer
Multi-entity accounting software comes in two kinds. A multi-entity ledger, such as NetSuite, Sage Intacct or Intuit Enterprise Suite, runs every company's books in one system; it's powerful but costs thousands a year and means migrating. A reporting layer, such as Joiin, sits on top of your existing Xero or QuickBooks companies and consolidates them; it costs from $23 a month and nothing changes in your books. Most groups under about 20 companies are better served by the second.
Two ways to solve multi-entity accounting
| Multi-entity ledger (ERP) | Reporting layer on your current ledgers | |
|---|---|---|
| Examples | NetSuite, Sage Intacct, Intuit Enterprise Suite | Joiin, Fathom, Spotlight Reporting |
| What changes | You migrate every company to a new system | Nothing in your books; the app reads from them |
| Typical cost | Thousands to tens of thousands a year, plus implementation | From $23 a month |
| Time to go live | Weeks to months | Hours to days |
| Intercompany | Can automate both sides of intercompany entries | Eliminates intercompany balances in reporting |
| Best for | Larger groups with complex operations, approvals and audit needs | Small and mid-sized groups and accounting firms |
When a reporting layer is enough
If your problem is month-end group reporting rather than day-to-day operations, you don't need to change ledgers. Keep each company in Xero or QuickBooks and connect a consolidation app. Joiin, for example, can combine companies on different ledgers in one group, and it handles eliminations and currency translation.
When to move to a multi-entity ledger
- You need shared customers, suppliers or inventory across companies in real time.
- You process large volumes of intercompany transactions that should post on both sides automatically.
- You need approval workflows, complex revenue recognition or audit trails that small-business ledgers lack.
- You have dozens of entities with partial ownership and non-controlling interests.
Even then, many groups run a reporting layer first and migrate later, once the business case is clear.
Our recommendations
- 2 to 20 companies on Xero or QuickBooks: Joiin on top of your current ledgers.
- QuickBooks users outgrowing QuickBooks: compare Intuit Enterprise Suite against an add-on; see QuickBooks consolidation options.
- Large, complex groups: a mid-market ERP, with implementation support.
Frequently asked questions
What is multi-entity accounting software?
Software that manages or reports on several legal entities together, producing consolidated financial statements and handling intercompany transactions.
Do I need to change accounting software to consolidate?
Usually not. Consolidation apps such as Joiin connect to your existing Xero, QuickBooks or Sage companies and produce group reports without migration.