Sync Two QBO Companies into Umbrella Company

There is no multiple subscription reporting in QBO so there is no way do it

you can check the app store, maybe there is something there

QBO Apps  https://apps.intuit.com/

Thanks, Rustle! I’m looking into the following Apps which help in consolidating reports:  FathomHQ, Spotlight Reporting, Qvinci, QQUBE, Bison Analytics and Infor F9

Do any other Quickbooks products (e.g. Quickbooks Enterprise) enable enable rolling/syncing  two Quickbooks companies into one umbrella organization/company?  Another key objective is to track customers from both organizations in one CRM platform; the CRM I’m usuing will only sync with one Quickbooks company.  Since we cross-sell products from the two sub-companies, it helps having customers from both organizations synced into one CRM.  

in desktop only enterprise has a function to consolidate multiple company financial statements - all companies have to be desktop not QBO

there is a third party utility to do that too if you do not have enterprise and use pro or premier

In terms of use on mobile devices, how does the hosted Quickbooks Eneterprise solution compare with Quickbooks Online?  Is Enterprise accessible to mobile devices, for example, if I'm traveling and want to check-up on companies using a smart phone?

Hi Jaromf,

I’m here to provide additional information about your concern.

Mobile usage is only available for inventory barcode scanning. At this time, there isn’t an option to access companies using QuickBooks Desktop Enterprise using mobile devices.

However, you have the option to sign up for QuickBooks Online. One of its best features is you’ll be able to access your company data anytime anywhere via PC, Mac, tablet or smartphone.

Here’s an article to learn more about the offered features of QuickBooks Online: https://quickbooks.intuit.com/online-compare/

I’d still be around if you have any other questions about QuickBooks. Cheers! 

Even with QuickBooks Enterprise, it's not real company consolidation accounting that stays in QuickBooks as a separate consolidated file. It does not do intercompany elimination process either if you want. All it does is it will combine selective reports from multiple companies and exports to excel file. It's not an automatic report run, you will need to do this process everytime you need to consolidate multiple companies. Nothing is saved in QuickBooks, just export to excel when you want it, that's all.

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vpcontroller and Charies_M,

Thank you for the helpful insights.  Due to the steps required, Enterprise does not appear to be a streamlined solution to getting daily quick-glances at consolidated company performance.  In addition, Enterprise is a step backwards in terms of mobile access. 

I started looking at third-party apps that automate such report consolidation, but am not sure which to choose.  Is there any consolidation app that is sponsored or recommended by Intuit for small and medium size companies?  By the way, my two sub-organizations each have QBO companies with very similar charts of accounts.  If there is anyone out there who feels they've syncronized sub-companies successfully, sharing the apps and methods would be very helpful.

@Jaromf

"By the way, my two sub-organizations each have QBO companies with very similar charts of accounts."

If you have a similar COA template that helps a lot in the consolidation process to generate reports.

"I’m looking into the following Apps which help in consolidating reports:  FathomHQ, Spotlight Reporting, Qvinci, QQUBE, Bison Analytics and Infor F9 "

Seems like you've already selected good apps. You may also want to check out the reviews. You can always call them directly for more information, see if they offer a free trial.

Good day, Dougienyc.

For now, syncing two QuickBooks Online companies into one umbrella company is unavailable. As what the other users suggested, you can look for third-party applications that can help you. Visit our website for the list of apps. 

What I can do is to submit this concern to our management team and have it pass along to our software engineers. This will be reviewed and it might be added on our future updates.

If you have other concerns, please don't hesitate to get back to us. 

I just got set up on Fathom. Took me 10 minutes and now I have consolidation perfectly set up. They let you pick accounts to identify as part of the "Elimination" process so we don't over-report revenues or expenses (we have subsidiaries paying management fees to the parent company). Thanks for the forum response. This is a game changer!

My company just elected to upgrade to QBO Advanced because the sales rep told me it was possible to consolidate our multiple companies to an umbrella company.  Is this untrue?

Allow me to help provide additional clarification about the QuickBooks Online (QBO) features, @cheerbear.

There might be a misunderstanding of communication about the QBOA features. In QBO, we have two QBOA, these are the following:

• QuickBooks Online Advanced
• QuickBooks Online Accountant

In QuickBooks Online Advanced (QBOA), you can consolidate one company on each subscription. On the other hand, in QuickBooks Online Accountant (QBOA), you can purchase a wholesale billing/single invoice for one subscription which can handle multiple companies(clients) but each company must still have each own subscription.

You can check these articles to learn more about the difference between QuickBooks Online Advanced and QuickBooks Online Accountant.

• QuickBooks Online Advanced Features
• QuickBooks Online Advanced: Growing With – and for – Our Customers
• About QuickBooks Online Accountant features

Let me know if you have any other questions about the accountant and advanced features of QuickBooks, I'm always here to help. Have a great day ahead!

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@cheerbear wrote:

My company just elected to upgrade to QBO Advanced because the sales rep told me it was possible to consolidate our multiple companies to an umbrella company.  Is this untrue?

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@cheerbear 

"Is this untrue?"

Yes, it's untrue. If you're looking for consolidating multiple companies, QuickBooks is not the right product for you. No versions of QBO or QB desktop can really company financial consolidation except QuickBooks Enterprise version maybe.  Even this one can do consolidation in QuickBooks one-time and export to Excel to run the reports.

With QBO Advanced version, it also comes with Fathom app, it does some sort of financial consolidation of reports, you may want to activate this app and check-it-out and see if it's any help in your situation.

Hope this helps!

There is a new app out there called JustConsolidate that enables you consolidate multiple QBO companies into one QBO parent company. The benefit is the consolidated financials are in a QBO company you control so you don't have to learn another reporting tool/dashboard and your consolidated financials are not held captive in a 3rd party reporting app (i.e. you're not forced to maintain a subscription to an app just to access your historical consolidated financials). Different COA's across your sub's are not a problem and you can consolidate by month, quarter or even year to fit into any close cycle.

If you're looking for an app that consolidates and provides alternatives for reporting and BI analytics, the other apps mentioned are likely better alternatives. However, if you're simply looking for basic consolidated financials in a separate QBO company for financial reporting (a common feature in higher end platforms like NetSuite or Intacct) then this app is worth looking at.

https://www.justconsolidate.com/

https://apps.intuit.com/app/apps/appdetails?shortName=justconsolidate&locale=en-us

Hi,

You might want to also consider Joiin - this is a QuickBooks Online add-on which performs multi-entity consolidation at a fraction of the price of other add-ons mentioned in this thread and includes all the features such as multi-currency, eliminations, custom reporting, budgeting, reporting by class and company.

https://apps.intuit.com/app/apps/appdetails?shortName=joiin

Hope this helps.

Rob

I am trying to decide on one of these add-ons. Can you tell me which one you went with and if you are happy with it?? Anyone else use these tools? Thanks!

Am using Joiin and works great, and its super simple.

I am using a new APP JustConsolidate | Consolidate in QuickBooks Online.

It does both single currency and multicurrency consolidation. It brings the data back into a QBO parent company. It is pretty slick, leverages the QBO reporting and is affordable.

Hi,

Did you solve your consolidation problem?

There are a couple of great solutions, particularly if you have similar COAs

Thanks

Paul