Managing finances for a single company can be complex enough. Add multiple business entities into the mix—each with their own revenue, expenses, tax obligations, and reporting needs—and things can quickly spiral into a nightmare. That’s where accounting software for multiple businesses comes in.
In this comprehensive guide, we’ll explain what makes accounting software multi-entity-friendly, highlight key features to look for, and share top tools that help streamline operations across multiple companies.
What Is Multi-Business Accounting Software?
Accounting software for multiple businesses is designed to help users manage the financials of more than one legal entity within the same platform. These tools allow for consolidated reporting, separated ledgers, intercompany transactions, and simplified workflows across your entire portfolio.
It’s ideal for:
- Entrepreneurs with multiple businesses
- Holding companies
- Franchise owners
- Accountants and CPAs
- Agencies and professional firms
Key Features to Look for
When managing more than one business, your accounting software should offer:
Multi-Entity Support
Ability to create and manage separate financial records for each business, with isolated ledgers, bank accounts, and reports.
Consolidated Reporting
Roll-up financials from all entities into a single consolidated report—essential for CFOs and investors.
User Roles & Permissions
Control which team members can access specific business files or entities for data security and collaboration.
Automated Bank Feeds
Sync multiple bank accounts and credit cards for seamless data capture and reconciliation per business.
Intercompany Transactions
Easily record and reconcile transactions between entities, such as transfers or shared expenses.
Scalability
Support for adding new entities as your business grows without needing a separate login or license for each.
Customizable Chart of Accounts
Maintain a consistent chart of accounts across businesses or allow each to have their own setup.
Best Accounting Software for Multiple Businesses
Here are the top-rated solutions known for strong multi-entity support:
QuickBooks Online Advanced
- Best for: Small to midsize businesses
- Multi-entity: Requires separate accounts for each business
- Features: Custom roles, smart reporting, integrations
- Limitation: No true consolidated reporting unless paired with third-party apps
- Price: Starts at $90/month per entity
Xero
- Best for: Modern small businesses
- Multi-entity: Multiple organizations under one login
- Features: Bank feeds, customizable dashboards, easy switching between businesses
- Limitation: Limited consolidated reporting natively
- Price: Starts at $15/month per entity
Zoho Books
- Best for: Startups and budget-conscious users
- Multi-entity: Manage multiple businesses from one account
- Features: GST-ready, automation, multi-user access, real-time insights
- Limitation: No direct consolidated reporting
- Price: Free to $240/year (tiered per business)
Sage Intacct
- Best for: Midsize to enterprise businesses
- Multi-entity: Built specifically for multi-entity management
- Features: True consolidated reporting, multi-currency, intercompany accounting
- Limitation: More complex; implementation required
- Price: Custom pricing
NetSuite ERP (by Oracle)
- Best for: Growing or enterprise-level companies
- Multi-entity: Yes—global consolidation, automated eliminations
- Features: Full ERP + accounting, CRM, inventory
- Limitation: High cost, not beginner-friendly
- Price: Starts around $999/month + user fees
Wave Accounting (Free)
- Best for: Freelancers or very small businesses
- Multi-entity: Supports multiple business profiles
- Features: Free invoicing, receipts, basic accounting
- Limitation: Lacks advanced features like consolidation or automation
- Price: Free
Who Needs Multi-Business Accounting Software?
You should consider dedicated software for multiple businesses if you:
- Run more than one LLC or corporation
- Operate franchises or regional offices
- Manage clients as an accountant or bookkeeper
- Share resources across businesses (employees, tools, inventory)
- Need centralized financial visibility
Benefits of Using One Platform for Multiple Entities
BenefitWhy It MattersCentralized accessOne login for all companiesFaster reportingView combined revenue, expenses, or profitReduced duplicationShared vendors, contacts, and workflowsEasier collaborationAssign roles across businesses to your teamBetter complianceKeeps clean books for each legal entityTips for Managing Multiple Businesses Efficiently
Use consistent chart of accounts
Standardizing categories makes consolidated reporting easier and cleaner.
Automate data entry
Link each entity’s bank and credit accounts to reduce errors and save time.
Set role-based access
Limit users to only the companies or features they need to work with.
Reconcile frequently
Keep reconciliations and reporting up to date for all entities to avoid last-minute scrambling.
Use cloud-based solutions
Access your accounting dashboard from anywhere—and scale as needed.
Security & Compliance Considerations
When using accounting software for multiple entities, ensure:
- Data encryption
- Audit trails and logs
- Multi-user authentication
- Regular data backups
This is especially important for businesses in healthcare, finance, legal, or multi-state operations.
What About Consolidated Reporting?
Consolidated reporting is critical if you:
- Present data to investors or a board
- Operate parent-subsidiary companies
- Need to combine revenue/profit across businesses
Tools that support consolidated reporting:
- Sage Intacct
- NetSuite ERP
- Third-party apps for QuickBooks (e.g., Fathom, Spotlight Reporting)
Conclusion
Running several businesses doesn’t mean managing several platforms. The right accounting software for multiple businesses helps you streamline operations, save time, and make smarter financial decisions—all from a single dashboard.
Whether you’re managing two LLCs or ten franchises, choosing a platform that scales with you—and offers entity-level flexibility—will simplify compliance, boost accuracy, and give you better financial control.
FAQs
1. Can I use QuickBooks for multiple businesses?
Yes, but you need a separate QuickBooks Online account for each business. You can switch between them under one login, but there’s no consolidated reporting unless you use add-ons.
2. Which software is best for multi-entity accounting?
Sage Intacct and NetSuite ERP offer true multi-entity support with consolidated reporting, intercompany eliminations, and scalability.
3. Is it legal to keep all businesses in one accounting file?
Not recommended. Each legal entity must have separate financial records to ensure proper reporting, taxes, and liability protections.
4. Can I give different employees access to different businesses?
Yes, most modern platforms like Xero, Zoho, and Sage offer user roles and permissions for separate entity access.
5. Do I need to file taxes separately for each business?
Yes. Each business with its own tax ID or legal structure must file separately—even if managed under the same platform.