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We have 15 entities and we do not bill/invoice anyone. We enter brokerage statements, maintain multiple checking accounts, have a small payroll and large A/P. Our owner wants to see a consolidated P&L, Balance Sheet, Budgets vs Actual, Cash Flow and Forecasting for multiple entities together.
I've gone through the QB Store looking for 3rd party applications, however, the search is overwhelming. Do any of you have any recommendations of an application that can consolidate multiple entities to do this?
I've created budgets based on prior year financials in each entity, exported them into excel then manually combined them but you can imagine when you don't have the same chart of accounts between them because they don't all need the same accounts, then you're trying to manually combine them, fix the excel formulas, etc. it takes hours and my boss doesn't understand why I can't do this on a monthly basis in a day.
Any suggestions?
@GSH-CY I'd actually be interested in this answer as well. One of my clients would probably be very interested in a statement like that.
The staff can't recommend any particular apps, unfortunately.
A lot of the big users went inactive some time ago; most likely list for this kind of question would be: @BigRedConsulting @Fiat Lux - ASIA @Just_me @Rainflurry
I recognize that managing this process effectively is essential for your operations, GSH-CY. However, the most practical solution we can offer to assist you at this time is to continue using Excel for exporting the data, which you are already utilizing.
You can refer to this article for more information on how to consolidate your financial reports from multiple QuickBooks Desktop (QBDT) company files: Combine reports from multiple company files.
You'll also want to check out this article if you want to learn how to keep your report settings in QBDT: Create, access and modify memorized reports.
Our Community is always available, featuring QuickBooks experts who are ready to help you, so please don't hesitate to ask any questions about running reports. We are dedicated to assisting you in achieving your goals.
Hello MoiraskyeT,
Thank you for your feedback however this is not a matter of "combined reporting". This is a matter of "consolidating reports" which is different. An example would be that I create a budget in multiple files and then export that into excel showing it monthly creating the Budget vs Actual excel. I then open the largest file and I copy and paste the other excel files from the other companies into one excel file and I fix the formulas to calculate all of the subtotals, totals, etc. I then have to figure out if any of those line items cancel each other out throwing off the true numbers because some entities pay each other not to mention that the chart of accounts aren't exact matches creating extra line items that I then have to combine manually or hide depending on what the owner wants to focus on. I am supposed to do this as a month-end process but it is so time consuming that it is just not possible without staying after hours, for which I do not get paid being an exempt employee. I am finding that this "consolidation" reporting is something that is taken care of with 3rd party software and to add another layer of difficulty, we use the Desktop Enterprise version being faced out and I have wasted alot of time trying to find a 3rd party software that works with desktop instead of on-line QB's. I was hoping for some guidance on other users who have been using a 3rd party software to give me their review so I may consider that software to assist us with our needs.
@FishingForAnswers Thank you for your response and sharing this with the other parties that would most likely list for this kind of question.
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