It is often tricky, with more and more accounting bureaus or businesses being formed these days. The process of setting up an accounting system can be overwhelming. When you have so many entities to track, the Accounting software for multiple entities becomes necessary to save time and manpower.
This blog post will discuss the numerous options available for such software that can enable your company to access an orderly set of data from multiple locations with minimal effort on your part. Moreover, below you can find the list of best accounting software for multiple entities available on the market with its pros and cons.
Our Top 5 Accounting Software For Multiple Entities
Best Accounting Software For Multiple Entities Reviews
1. Best Overall: FreshBooks
FreshBooks is cloud-based accounting software for multiple entities that makes life easier for small to medium-sized businesses. This software provides automatic invoicing, time tracking, and reporting. It allows the user to track expenses as well as earn more money by automating recurring billing and cutting down on manual processes.
FreshBooks Features
- Create and run invoicing, credit scoring, and reports that automate business tracking.
- Connect with your bank and use their online automation tools.
- Access your data from any computer or device with an internet connection.
- Automatic reminders keep track of where you need to be next and guide you through it all.
- Get payment reminders and automate late fees through FreshBooks, reminding clients that they need to pay up.
- Keep your books in order with automated invoicing, credit scores, and unpaid invoice reminders.
- FreshBooks makes payments easy; send invoices directly from your bank or let the client pay by credit card.
- Easy access on any device helps you work faster and better for your clients.
2. Best for Streamline Workflows: Gravity
Accounting software for multiple entities that can be used by accountants and accountants. Gravity was created to help users make an ideal solution for their business.
Gravity is easy to use, in part because it uses the built-in functions and other features found in every computer. It also has a simple interface to make data entry as convenient as possible, with a powerful search feature that helps find information quickly and easily. On the other hand, the back office of Gravity tends not to be so streamlined; this is what makes its flexibility stand out from the competition.
The big advantage of using Gravity is its ability to perform multiple entity management and multiple set-up accounting; it is possible to set up and run each business as a different account. The first thing that users will notice about Gravity is that it comes with a detailed PDF user manual that provides step-by-step instructions for using the software. In addition, to make it even easier for new users, a free YouTube tutorial video has been created and uploaded by the software developers themselves.
3. Best Customer Support: QuickBooks Desktop Pro Plus
QuickBooks Desktop Pro Plus is accounting software for multiple entities. The program includes a full range of inventory, bill paying, payroll, and e-mail reminders. In addition, it’s easy to use and simple to learn of the numerous benefits offered by QuickBooks Desktop Pro Plus.
QuickBooks is the easiest accounting software to learn and use. With step-by-step instructions, users can be up and running in minutes. The software has a comprehensive Help feature that explains every aspect of the program. Users can search for specific questions or browse through an organized database of information. The Help feature also includes video tutorials for beginners who are not familiar with accounting software.
QuickBooks’ other features include e-mail reminders, invoices for reminders, mobile access, and online banking account reconciliation to make bookkeeping more effortless than ever before. In addition, QuickBooks Desktop Pro Plus adds many features to previous versions of the software and enhances its spreadsheet editing abilities. It also includes an integrated word processor with a built-in calculator, spell checker, and calendars for billing.
4. Best for Consolidating Entities with Cryptocurrency Transactions: SoftLedger
SoftLedger is accounting software that allows for multiple entities to be created on the same ledger. This can help accountants and businesses create their ledgers in a single place, reduce human errors, and save time.
This accounting software allows you to manage your ledgers for a multitude of organizations within the same framework. You can create accounts, track transactions, add new companies or individuals as well as adjust taxes. In addition, it makes it easier by eliminating human error, which saves time. Softledger is the solution for those with a large number of diverse companies to manage.
SoftLedger is based on the principle of efficient validation and intelligent certification of invoice data. In addition, this software allows businesses to create and edit ledgers organized by different entities in a single place, eliminate human errors and save time.
5. Best Easy-to-Use: Kashoo
Kashoo is accounting software that makes accounting for multiple entities a breeze. It offers an all-in-one solution that handles your entire life cycle of accounting. Whether you run a small business or are part of a large enterprise, we’re here to make life easier for you. Kashoo is easy-to-use and intuitive accounting software for small businesses, freelancers, or professionals. It is designed to be used both on the desktop and online – wherever you are.
Kashoo Features
- Multi-User support.
- Send your clients their invoices directly from Kashoo! No more Word documents by email. No more long and complicated invoices that you need to create over and over again each time a new client hires you. The software does it all for you automatically.
- Kashoo helps you manage bills with recurring payments. You can choose to generate invoices for recurring payments or bills (such as for utilities), and the software will generate your bill automatically.
- Kashoo offers powerful tools to help you track your income and expenses by month, week, day, hour, and even by second.
Buyer’s Guide
In this article, I will discuss different options available for accounting software and the features they come with. The features mentioned in this article will be categorized based on a few parameters. I will not discuss every feature that each software for multiple entities has, but I will mention those that are essential to a good accounting system for multiple entities.
Main Features
Financials Management
This category encompasses all the features that enable you to view your financials from a single location. You should be able to view these online or download them in an organized fashion so that you can access them from anywhere and at any time and store them on your hard disk as well so that you can refer to them whenever necessary.
Data Storage
You should be able to keep data organized and accessible from one central network location. Don’t think that you will only be able to store your financial data in a cloud or other storage software. You should also be able to download them whenever required. Though this may not be very useful for a small business, it can come in handy when you have multiple companies under the wing of one organization.
Reporting
This category covers all the features that will help you generate and present reports at regular intervals. Reporting is the core of any accounting system, and without it, your system will not be as effective as it could have been. In addition, the information generated by such a system should be accurate and easy to read so that you can make quick decisions based on the same without wasting too much time on analysis and calculation.
FAQ
What Is Accounting Software For Multiple Entities?
Accounting software for multiple entities helps a company to keep track of its assets and liabilities, revenues, expenses, profits, taxes, and cash flow which are essential for keeping good account records.
What Is The Best Accounting Software For Multiple Entities?
QuickBooks is the best accounting software for multiple entities. This is a must-have tool for any business, big or small. There are many different accounting software programs on the market, but QuickBooks simply has too much to offer to be left behind.
Can XERO Do Multiple Companies?
The answer is “yes.” XERO can do many companies. You can connect up to three separate entities to your one account, which is more than enough for most small businesses. However, the more companies you own, the more advantages you get when combining reports across them all, such as better inventory handling and so on.
