Best Accounting Software for Multiple Businesses in 2025

Involve finance team members in the evaluation process and request demonstrations or trials to assess how the software handles your real-world scenarios. Vendor reputation, customer support, and the availability of onboarding services or implementation consultants can significantly impact your success with the software. Additionally, tax compliance and reporting tools often integrate with multi-entity accounting systems. These integrations help navigate differing tax codes and filing requirements across regions or countries, automating tasks like VAT returns, sales tax calculations, and statutory reporting. When accounting platforms include time tracking, you improve your labor management and build out the capacity to bill your clients per hour of work. Your invoicing and accounts receivable improve as much as your team’s productivity.

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Take a demo with BILL to see how our integrated platform can provide your business with seamless AP, AR, and spend and expense management. When evaluating the best multi-entity software for your business, the primary thing you should look for is customization. Running multi-entity companies requires intense oversight, and being able to customize your approval workflows is essential. Finally, its inventory module is quite useful for mid-sized companies, tracking stock across multiple locations and meeting demand through strategic https://qureshikarahi.com/factoring-in-finance-meaning-business-examples/ stock transfers.

• However, we recommend QuickBooks Online, not QuickBooks Desktop, for multibusiness accounting.
• Our editorial team independently evaluates products based on thousands of hours of research.
• You’ll use this software to record and reconcile transactions; create, send and track invoices; review key financial data; and manage each of your businesses’ taxes.
• Managing a multi-entity business means handling complex multi-entity accounting processes and challenges.
• From consolidating financials across multiple entities to managing intercompany transactions, discover how Gravity Software can help your business grow.
• Sage Intacct is a cloud-based financial management solution designed to meet the needs of businesses with multiple entities.

Streamlined quoting and invoicing

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. This daunting task becomes much easier with accounting software for multiple businesses. You’ll use this software to record and reconcile transactions; create, send and track invoices; review key financial data; and manage each of your businesses’ taxes. It offers a unified platform for financial management, accounting, and business operations. NetSuite helps streamline financial reporting, automate accounting processes, and ensure compliance with regulations.

Dynamics 365 Business Central

In that case, you might ask one) whether it’s time to upgrade your accounting tools or two) whether you should continue using your current software for handling multiple entities. With accounting software providers aimed at smaller or mid-market businesses, you’re looking at digital-native service providers working on a subscription revenue model. These providers may not always know how to handle bigger, more complex issues, for example, inventory tracking. In some cases, Tipalti automates 80% of the manual payables workload, enabling businesses to close books 25% faster while strengthening financial controls and reducing compliance risk.

Acumatica Cloud ERP

Watch this short video to see how Gravity Software simplifies multi-entity accounting for businesses. Tipalti has money transfer licenses (MTL) and uses some major global banks for payments. Whether a trial balance, receivables and/or payables report, balance sheet, or income statement, you can compare quarters for your separate entities. Zoho Books integrates easily with what is multi entity accounting other Zoho products and third-party applications.

How does Gravity Software handle intercompany transactions?

It supports over 40 localized versions for online implementations and on-premises setups, ensuring compliance with local legal requirements and business practices. The system also tags every transaction with dimension codes, making analyzing your data easier and ensuring accuracy. The ability to integrate with the other applications running your enterprise is critical, especially if you yourself are trying to integrate disparate businesses. One reason we picked Payhawk for spend management was the accounting and ERP integrations.

Multi-entity accounting software becomes much more efficient and accomplishes more with add-on accounting Oil And Gas Accounting automation. In essence, software that complements or feeds into financial data—whether it’s operational, transactional, compliance-based, or analytical—is a candidate for integration with multi-entity accounting platforms. This interconnected ecosystem promotes efficiency, accuracy, and strategic visibility across complex business structures.

• Artificial intelligence and machine learning will play a larger role in automating financial processes and providing real-time insights.
• Yes, but the capability to manage multiple businesses varies across software platforms.
• Regardless of what thresholds and approvers you choose, it’s essential to build a workflow that grants oversight without overwhelming your managers.
• With accounting software providers aimed at smaller or mid-market businesses you’re looking at digital-native service providers working on a subscription revenue model.

These financial relationships support our content but do not dictate our recommendations. Our editorial team independently evaluates products based on thousands of hours of research. Business News Daily provides resources, advice and product reviews to drive business growth. Our mission is to equip business owners with the knowledge and confidence to make informed decisions. Sage Intacct offers customized pricing based on the number of users, entities, and features needed. For accountants who manage multi-company clients, QuickBooks offers the ability to buy one QuickBooks Online Plus subscription at wholesale price (currently $40/month) and up to 14 additional companies for $5/company/month.