Best Accounting Software for Multiple Businesses in 2025

The platform allows users https://13brb.upboundstudio.com/small-business-accounting-software-start-for-free-2/ to manage financial activities, track expenses, and generate customized reports for each entity. When growing beyond small business accounting, selecting the right multi-entity software is critical for scaling efficiently. Basic solutions like QuickBooks and Xero require manual workarounds for complexity.

Pick a software that integrates well with all of your software solutions

Before add-ons, QuickBooks costs at most $200 per month, whereas FreshBooks’ packages with publicly available pricing cost at most $55 per month for one user. However, each team member you add to FreshBooks results in an additional charge of $11 per user per month. For especially large accounting teams, FreshBooks could wind up being the more expensive option. Multibusiness accounting software benefits each of your companies in ways including, but not limited to, the below. In all of the years we’ve tested FreshBooks, the platform has blown other vendors’ invoicing interface and features out of the water. We love that Mental Health Billing we can create invoices from one tab since other platforms often lack this capability.

QuickBooks Online Advanced

Having this data at your fingertips helps you make the overarching business decisions like hiring, offering new services, or opening additional locations. Dynamics 365 Business Central is a cloud-based ERP system for small to medium-sized businesses. It helps manage multiple entities, including financials, supply chain, and customer relationships. FreshBooks simplifies payroll processing for multiple companies, allowing you to pay employees and contractors, file taxes, and generate reports all within a single platform.

• Gravity’s three-tier currency model lets each entity operate in its own home currency while generating consolidated reports in a chosen reporting currency.
• Yes, businesses can work with multiple accountants, especially when subsidiaries have local support.
• It supports over 40 localized versions for online implementations and on-premises setups, ensuring compliance with local legal requirements and business practices.
• Whether you own more than one business in the same industry or different ones, you must keep detailed financial books, with proper accounting, for all your companies.

Free vs. FreshBooks accounting software for multiple businesses

• Like QuickBooks, Xero has a marketplace for third-party software integrations that provide additional functionality.
• Acumatica is a cloud ERP system with a fully integrated suite of business management modules, including accounting.
• You’ll likely still need to manually remit these taxes to city and state authorities, but merely recording them can be a major help.
• Although this is QuickBooks Online’s most expensive package, its exceptional breadth and depth of reporting features make multibusiness financial management much easier.
• Like QuickBooks, Xero requires separate subscriptions per entity, enabling distinct record-keeping but lacking built-in consolidated reporting and intercompany transaction management.

With this simplified invoice creation interface, we never accidentally jumped to another one of our companies’ tabs and took information from there instead. FreshBooks enabled us to get all our invoicing exactly right across our organizations. We collaborate with business-to-business vendors, connecting them with potential buyers.

We found that multibusiness owners stand to benefit a great deal from QuickBooks’ reporting suite. With basic reports such as profit and loss statements and, for Advanced users, fully customizable dashboards, QuickBooks streamlined our financial data review across organizations. When you’re managing the accounting for several businesses from one login, this consolidated, powerful reporting functionality is an absolute must-have. Acumatica is a cloud ERP system with a fully integrated suite of business management modules, including accounting.

• NetSuite helps streamline financial reporting, automate accounting processes, and ensure compliance with regulations.
• This allows your finance team to have insights into multiple entities, both separately and collectively, so you can make informed business decisions and strategize for future growth.
• Third-party apps for Xero accounting software include financial statement consolidation and Xero-integrated Tipalti AP automation.
• The automation provided by accounting software for multiple entities helps shorten your month-end closing time.
• Take a demo with BILL to see how our integrated platform can provide your business with seamless AP, AR, and spend and expense management.

Using BILL, Millenium Physicians creates a unique email for each practice so the invoices can be emailed to the correct set of books. The best what is multi entity accounting multi-entity accounting software will allow you to customize your policies and workflows to fit the unique needs of your business. As the accounting landscape evolves, expect more innovations in multi-entity accounting software.