How to consolidate multiple QuickBooks Online companies
Last updated 21 July 2026
QuickBooks Online can't consolidate multiple companies natively. This guide walks accounting firms through combining several QuickBooks company files into consolidated group financial statements.
QuickBooks Online organises your work into separate companies — one company file per entity. For a single business that is exactly right, but when a client is a group of related companies, QuickBooks has no native way to combine them into consolidated group accounts. Firms are left merging company files by hand at reporting time. This guide shows how to consolidate multiple QuickBooks Online companies into one set of group financial statements.
Why QuickBooks alone can't do it
Each QuickBooks Online company is a separate subscription with its own chart of accounts and its own reports. There is no built-in "group" that sums several companies and eliminates the transactions between them. The usual workaround — exporting each company's trial balance and combining them in a spreadsheet — is slow, fragile, and has to be redone every period.
Consolidating QuickBooks companies step by step
- Connect each QuickBooks Online company via the official Intuit connection. Report Craft imports each company's chart of accounts and up to five years of period data.
- Map to a group chart of accounts so every company's accounts land on consistent group lines.
- Post consolidation adjustments and eliminations to remove intercompany loans, internal sales and investments.
- Generate the consolidated statements — a group Profit & Loss, balance sheet and trial balance in one print-ready PDF.
Eliminations are the important part
Simply adding two companies together double-counts anything that happened between them. Eliminating intercompany balances is what turns a sum of company files into a true consolidation. Our guide on intercompany eliminations covers which balances to remove and how to post the journals.
Groups that span QuickBooks and Xero
If some entities in the group are on Xero, that is not a problem — Report Craft consolidates QuickBooks Online companies and Xero organisations together in the same group, with one consistent set of output statements.
See the QuickBooks consolidated reporting overview for a summary of the whole workflow.
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