Can Quickbooks Online Consolidate Multiple Companies?

December 16, 2021

Fixing a robot

If you have multiple entities that you need to create a consolidated report for, this is a pretty manual and tiresome task to complete using QuickBooks. First you need to log into QuickBooks and download the report from your first entity, export this to excel, reformat the report and then repeat this for all your entities. Once all your reports have been exported, you need to manually create a consolidated report. This has to be repeated every week/month you want an updated consolidated report. 


Tired of constantly creating manually consolidated reports? Use LiveFlow’s Google Sheet Add-on to stop wasting time on manual consolidation - connect unlimited QuickBooks accounts, set up your consolidated preferences, and experience your numbers updated in real-time. Here’s how:

1. Use the LiveFlow Google Sheets Add-on to import a P&L report for each entity. Learn how to connect multiple QuickBooks accounts here

2. Create a tab named ‘Months’, this’ll be used for validation in the next step. Note: make sure the months are formatted as plain text.

3. Create a new tab named Consolidated P&L and name your columns.

4. Click the cell next to ‘Date’ > Select data > Data validation > Select the date range from the ‘Months’ tab. This will create a dropdown list of months. Format this as plain text.

5. Copy and paste the chart of accounts of your first entity into your consolidated P&L tab.

6. To pull in your data into the consolidated P&L select cell and use the formula =IFERROR(INDEX - here you need to select all possible values in Entity 1 P&L tab, MATCH(fix the column of the cell containing the first account from Chart Of Accounts on the Consolidated P&L tab, select all Chart of Accounts from Entity 1 P&L tab, 0), MATCH(you now need to refer the date range - fix with $ the Month cell on Consolidated P&L tab, and then select all months from Entity 1 P&L tab,0)))

The end result will look like this: =IFERROR(INDEX('Entity 1'!$A$10:$O$40,MATCH($B6,'Entity 1'!$A$10:$A$40,0),MATCH($D$2,'Entity 1'!$A$10:$O$10,0)))

7. Copy and paste this formula by dragging the cell across the column. Repeat for your other entities. 

8. Note: if your entities have different charts of accounts, add rows into your consolidated P&L tab and copy and paste the formula into these rows (this wont break any cell references!). 

9. Under Totals use formula =SUM(select first cell from each entity) and drag down to copy and paste across all cells in the totals column.  

10. The result, a live consolidated P&L report created in minutes.

For more on how to create consolidated reports which update in real time, check out this step by step guide:


Try out our Google Sheets Add-on for free here

Still have questions? Get in touch at founders@liveflow.io, we’d love to hear from you! 

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