How to consolidate multiple LLCs without Excel
Most accounting software cannot perform real intercompany eliminations, forcing businesses with multiple LLCs and a holdco to rely on separate files and manual Excel spreadsheets for monthly consolidation. Alternative programs often make daily tasks like accounts payable, accounts receivable, and invoicing more difficult while providing poor support. This leaves companies unable to escape manual spreadsheet reconciliation.
What people tried
Every workaround mentioned in the threads below. We haven’t tested any of them — and nobody here is claiming they worked.
- 1Maintaining separate files per entity and manually consolidating results in Excel every month
- 2Using traditional software like QuickBooks Enterprise or QBO despite high costs and limitations with intercompany transactions
- 3Switching to niche industry platforms like Foundation, Knowify, or Buildertrend
- 4creating a separate adjustment entity to record GAAP adjustments
- 5using multibooks or adjustment-only multibooks
- 6making adjustments directly in the local entity
In their words
Unedited, most upvoted first, each linked to the thread it came from.
“Just know none of them do real intercompany eliminations, I have a client with three LLCs and a holdco and we still consolidate in Excel every month.”source ↗
“for 4 llcs plus a holdco you might end up with a separate file per entity and then consolidate manually anyway, so don't expect the software to fully kill the spreadsheet reconciliation”source ↗
“Our primary entity and consolidated reporting are in the U.S., so we may need to make adjustments to the U.K. lease accounting to bring it in line with U.S. GAAP for consolidated reporting.”source ↗
“Has anyone handled this type of setup in NetLease/NetSuite? If so, did you use a separate adjustment entity, make adjustments directly in the U.K. entity, or handle the differences another way?”source ↗
“Please let me know of a software cheaper than excel for consolidating the results?”source ↗
“My office used to use QB Enterprise Desktop. Switched to Foundation two years ago. Everything is more difficult (AP, AR, invoicing tasks) except the payroll tasks. The product support is amateur hour.”source ↗
Where this came up
People with this problem also raised
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