5 Best Multi-company Accounting Software

Cody Cromwell
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Top 5 Multi-company Accounting Software

What is accounting?

Accounting Services:

In order to manage clients’ assets and liabilities, financial managers need to maintain very accurate accounting records. And this is where accounting services become indispensable. This includes preparing monthly, quarterly, and annual reports as well as any other management reports that you need. You can hire them from your own in-house staff or outsource it to a third party.

Worth mentioning is the fact that accounting services are offered in two different ways – as Outsourced Accounting and as Accounting Outsourced. In the first case, your in-house staff handles all of the accounting processes, while in the latter case, the accounting outsourcing company does so.

Thus, in the case of accounting services, there are various advantages of hiring an outsourced firm over your in-house staff.

One is that the accounting outsourcing company has a larger pool of resources and also has very knowledgeable personnel who can perform extremely complex accounting tasks such as those that require the use of specialized software programs.

The other advantage of hiring an accounting outsourcing company to perform accounting services is that you can request them to manage a large number of assets records, which may be too complex for your in-house staff.

Now, how will you know which company should be hired to perform accounting services for your business?

When running a business of any size, accounting software is something that’s often not taken into enough consideration.

Not only do you need to do the day-to-day stuff like sales, purchases, managing stock, etc., but you also need to make sure that your bookkeeping is above reproach. Otherwise, you could face a serious problem if the tax office decides to take a closer look at how you’re managing your finances.

For the business owner that doesn’t have time to set up spreadsheets or do manual bookkeeping, there are a variety of accounting software programs available.

Some of these are free, although they may have their limitations. We’ve done some research and compiled some of the best paid options available to the small business.

Here’s a list of five that we think are pretty kick ass accounting software.

Question 1

How can I run my company like a business?

Companies spend an incredible amount of time and money keeping books. However, most retail companies have very little time left with their functions running smoothly.

The most common pain points for retail companies include billings, credit cards, customer relations, inventory, employee management and payroll.

Question 2: How many retail companies use more than one software for employee management, credit card processing, and invoicing?

Multi-manufacturing and multi-company retail companies certainly use a lot of different applications for their different functions. A lot of companies have no choice.

Question 3: In the long run, will using a single software streamline the company's operations?

Running a single software can definitely make your company operations easier. However, the numbers suggest that using a single software is not the best way to proceed.

You might not be able to run all of your functions through your existing accounting software, but you can certainly leverage accounting technology to:

  • Require a single paper trail for P2P payments
  • Streamline employee management

How many companies do you need to keep the books for?

What is the capacity of your accounting software?

With these vital questions in mind, here’s an aim of selecting the best accounting software:

What’s your company size?

If you’re a start up business with a few employees, a quickbook or a cash book will work just fine. But if you have many employees or you are a mid-sized business with a lot of clients and customers, the figures will become overwhelming unless you have the right accounting software.

How should you keep the books?

The type of accounting system you need depends on whether you keep the books manually or through software or software-based programs.

A manual bookkeeper keeps the ‘real’ books. This is great if you have fewer than 10 employees. But it’s also a task that will result in a lot of extra work for you and can be a real burden.


Whether you employ a bookkeeper or you keep the records through a software program on a regular basis, you’ll want to make sure it can do what you need it to do.

Will your accountant’s help be enough?

Question 2

What are the best accounting software for multi-company

What type of software can I use for accountancy for more than one company? What are the criteria I need to look for in accounting software?

Answer 2:

As you probably know, just about any accounting software can be used for more than one company. But, before you dive into the ocean that is accounting software for multi-company accounting, let’s explore some options.

Keep in mind though, that the criteria for a good multi-company accounting software and the decision on which accounting software is right for you, will depend on many factors.

Like for example the purpose of the software, the size of the company, the competition (that is, which business can be used to compare the software), the hardware you have (which might pose limitations) and many others.

I suggest you to go and check out some multi-company accounting software, so at least you will know what is out there (Which is actually a lot).

Are you a professional bookkeeper offering your services to multiple unrelated clients?

You are one of the many professionals who may be having difficulty keeping track of your clients’ accounts. Not to worry!

There is a solution for the accounting mess! Multi-company accounting software makes keeping track of your customers’ accounts easy. For all professional accountants, you know how hard it can be to keep track of accounts for multiple clients, let alone all your clients. Multi-Company Accounting software has improved the accuracy and efficiency of businesses by providing them with a way to view and manage different clients’ accounts by assembling them into a single and cohesive whole. It provides a significant advantage to professional accountants either by supplementing their activities or by filling in the gaps. While it is true that multi-company accounting software is another tool in the professional accountant’s arsenal, it is definitely one of the most effective.

Question 3

Which is the Top Multi-company Accounting Software?

Question 1: Which Desktop Accounting Software is the best?

To answer this question, iŠčl will put together the comprehensive comparative analysis to find the most reliable, easy-to-use and cost-effective accounting and small business intelligence solutions.

AccountEdge is a contemporary cloud-based accounting software that is designed by financial professionals in the top accounting companies in the world.

The solution helps not only the small business owners, but also the managers, freelancers, contractors and even the accounting managers in the large and midsize companies to keep up with the rapid growth and expansion of the business. It offers a wide range of features like payroll, manual time tracking, project management, and docketing. This software has been designed keeping the small business in mind.

PROS: This cloud -based solution is cost-effective and provides you with the flexibility to go for only those features that are relevant to your business.

It provides the ability to connect to thousands of existing bank accounts, so the bills and payments are handled automatically.

It is compatible with the leading payroll software.

It provides business intelligence and financial reports to help you analyze your business performance and prepare for the expansion.

You can access the system from both your home computer as well as the web.

Are you bookkeeping for a group of corporations where one corporation owns at least 50% of the other(s)?

Here is a list of the 5 top multi company accounting package.

Quickbooks is a popular choice especially if you work as a sole proprietor who bookkeeping independently.

It has the most comprehensive reporting features and provides the most flexibility. It is a perfect package for entrepreneurs, sole proprietors, and small businesses working with a small number of different accounts.

Quickbooks is also a good solution for small-scale businesses with fewer than 50 employees. But if you’re wanting to manage a large number of accounting records and the number of companies you need to work with is more than 50, Quickbooks is not a good fit for you.

Quickbooks is known for its flexibility which allow you to keep a lot of control. But it is risky to use a multi-company software package for your books. What happens if your company decides to leave the accounting package you are using?

It is also very difficult to use Quickbooks in an international environment, where the fiscal years and fiscal periods used are often different.

How to Choose your Multi-company Accounting Software

Most importantly, budget software will help you organize and manage your business finances. You can provide different budgets to different departments in your company as well, so you can easily manage it and browse the data in a split screen view.

Budget software also has a built-in currency conversion feature so you can easily view your accounts in different currencies. Even though you may have a purely local business, you may find yourself in a foreign country, so it’s convenient in such case as well.

Financial Reports

Your business may be growing, but don’t leave out your major financial reports and accounting you need to produce to run your business. You can generate reports such as accounts receivable, income statement and balance sheet by choosing from different report templates, each of which will provide useful info such as cash flow, profit and loss, and the balance sheet. And with some accounting software, you can even generate customized reports according to your specifications.

Account Analysis

You want to see how your business’s spending and revenue is allocated to different accounts so you can understand better if it’s best for your business to increase some of your accounts, or have a lower one. It can also help you keep track of your spendings by segmenting accounts into different departments, such as your sales department or IT department.

QuickBooks Desktop : Best Overall Multi-company Accounting Software

QuickBooks desktop is one of the best Accounting Software for medium, small and independent business.

With the help of the software, You can manage your accounting and bookkeeping needs at a fraction of the cost of hiring a bookkeeper or an accountant.

QuickBook works in a cloud way and available on different computer system so you can always access your data from any place even in different company.

If you want a best accounting software with full user friendly interface software. QuickBooks desktop is best for you.

QuickBooks Desktop is best choice for all levels of business.

QuickBooks software is the best accounting software for freelancer because you can do the payroll online and your employees get paid every week.

QuickBooks Desktop Pricing

You’re running a business, and your primary goal is to make money. You need a software for managing your business, and that’s where QuickBooks comes in. The company is quite famous for its QuickBooks desktop accounting solution, which is available online for download and offline via an installed program.

Through the program, you can manage all your invoices, bills, payments, customers and vendors. You can also process payments, import data from your bank and export data for tax filing, so you can manage your finances quite easily. You can also monitor company expenditures and record income in order to keep your finances in check.

The program is also a must-have for entrepreneurs and small business owners. You can write down all your personal and business information on the same database. It’s a very good solution for small businesses, and the program also offers you some other features.

For instance, QuickBooks also offers two different price plans. You’ll have different prices for QuickBooks Pro and QuickBooks Enterprise. The former comes with some amazing features for small businesses, while the latter has additional features for businesses of all sizes.

QuickBooks Desktop Professional

Free: No ads and 30 transactions, including multiple users.

QuickBooks Desktop Features

QuickBooks Desktop is the oldest and most basic version of QuickBooks. Of course, it comes with a myriad of accounting features, but those can be a bit confusing to begin with. Just like every other version of QuickBooks, the users can easily upgrade to QuickBooks Pro. The biggest difference between the two is the number of features.

QuickBooks Pro is a resource rich and accountancy software. It also comes with QuickBooks Enterprise, which comes loaded with a whole lot of features and capabilities. The users can effectively run their business by managing the entire financial operations of their business. Even if the users don’t have any plans to upgrade, QuickBooks comes loaded with some incredibly powerful and robust tools for other businesses.

QuickBooks is undoubtedly one of the most powerful accounting softwares. It does a splendid job of organizing your business’s data and in that way does provide extensive reports for the business. It also enables notifications and reminders so that your business gets the best of business management.

QuickBooks comes with over 35 software modules and over 100 add-on tools. Built on an easy-to-use GUI, QuickBooks is the one of the easiest production accounting software that a business can use. It’s even easy for a novice to use it while there are plenty of features for pro level users and developers.

QuickBooks Accountant Desktop : Best for Independent Full-service Bookkeepers

QuickBooks has been the market leader and still continues to be one of the most trusted accounting software in the world today. Founded in 1988, QuickBooks is one of the most popular computers software programs. It has been used by 3.5 million accountants and business managers in more than 150 countries. There’s a reason why so many business owners trust QuickBooks. There’s a reason why so many accounting companies affiliate with QuickBooks. These are the best reasons why you should use QuickBooks:

{1}. Ease of use: QuickBooks moves seamlessly from PC to Mac to mobile. This has been possible because of the creation of the cloud. This cloud feature allows you to access your files from anywhere anytime. It also allows multiple users, multiple computers, and multiple accounts to access the same QuickBooks software.
{2}. Flexibility: In addition to making it compatible with Mac and mobile systems, this software is also compatible with Windows. It allows you to create professional invoices and work with customers from large corporations to small home-based businesses.
{3}. Accuracy: QuickBooks is meant for tax preparation. Being that it is compatible with Mac and Windows platforms, it makes it easy for you to make sure you have all your numbers right.

QuickBooks Accountant Desktop Pricing

Quickbooks is used in small business accounting, bookkeeping, payroll, tax and inventory for cash and cost tracking, controlling business expenses, preparing accounts and tax returns, managing payroll, payroll taxes, and inventory. QuickBooks also offers a helpful mobile application for iPhone and Android which helps businesses reduce their costs by offering access to the back office from different locations.

QuickBooks offers both desktop and online versions of its accounting software. It offers two types of QuickBooks accounting software: small business accounting and accountant desktop.

QuickBooks Small Business Accounting

QuickBooks small business accounting software primarily designed for individual users and multi-person businesses. QuickBooks small business accounting can be used for simple businesses with limited inventory. Also suitable for real estate agents and other service businesses.

QuickBooks Desktop Accountant

QuickBooks Desktop Accountant can also be used by individuals. This version offers more functionality and comes with advanced features such as inventory tracking, payroll management, tax preparation and advanced reporting tools. It is suitable for businesses with inventory.

QuickBooks Accountant Desktop Pricing

QuickBooks Accountant Desktop is an upgrade to QuickBooks Desktop and also suitable for businesses with inventory. It has more advanced features such as inventory tracking, payroll management, tax preparation and complex reporting tools. Accountant desktop is the best if you are looking for advanced features.

QuickBooks Accountant Desktop Features

QuickBooks accountancy software, designed for small business accounting has been a remarkably popular product for over 20 years. QuickBooks covers the basic needs of small business owners with its multi-company version for retail and wholesale business accounting. The retail version enables you to track service and repair, purchase, and sales details of individual and multiple assets. It also helps you to keep track of your business credit limit and payments with a range of standard reports. The retail version also allows you to create schedules, manage inventory and sales, print or email statements to your customers, schedule reminders, perform tax calculations and so much more.

Sales and Customer Records

The retail version helps you to organize your customers, maintain sales records and service files, track your inventory, produce a sales forecast, manage your profits and control your tax and compliance. With QuickBooks, you can do all these things in a single software.

Payment and Billing

QuickBooks also helps you to keep track of business credit limit and payments. You can enter all information such as credit limits, monthly payments and interest rates for customers and vendors. You can even generate invoices, modify them, and manage correspondence with your vendors.

Sage 50cloud : Best Accounting for Consolidated Entities

A mult-company accounting software is an online tool which allows an organization to record accounting information on a central server. This server can be accessed by end users at any time to view financial statements, invoices, and billing information in a variety of different reporting formats. Sage 50cloud is one of the best multiportion accounting software to help companies maintain and manage their entire accounting function in one place. It comes with a seamless integration with other Sage 50cloud software such as Quickbooks and Quickbooks Online.

Sage 50cloud’s latest version is Quickbooks on cloud software. The app is designed to give end users access to all of the necessary accounting information from any browser or mobile device. The latest version allows users to keep a copy of their accounting information in the cloud and sync it with their owned desktop, laptop or tablet accounting software.

The cloud offers the required security and privacy necessary to work with sensitive data and allows companies to have multiple users access their accounts and perform a variety of different tasks.

Sage 50cloud is designed to give end users access to a variety of financial reports and other relevant data. The Quickbooks cloud software can be integrated with other cloud based services like Quickbooks Online or Quickbooks Desktop. These access on line services can give you access to the cloud whenever you need it.

Sage 50cloud Pricing

Sage 50cloud is the premier cloud-based accounting software with the lowest pricing among major online accounting software vendors. It is an affordable solution for small businesses with an online presence. In addition to all the standard financial management features, Sage 50cloud provides special features that are appropriate to your type of business like schedules, contacts, time sheets, inventory management, vendors, and libraries. It also offers mobile app for both Android and iOS platforms that allow you to access your financial information whenever you need it.

Sage 50cloud Features

The cyber security industry has been moving at a fast pace in the recent times and it makes the industry thrive and stand the competition. Companies like Sage 50cloud are one of the many companies that are involved in the cyber security industry. Sage 50cloud is one of the best multi-company accounting software available on the market.

Sage 50cloud has a lot of features and the primary reason for its being one of the best accounting software is the way it helps accounting companies like the accountants do their job.

Sage 50cloud is a cloud accounting software, and the fact that it is cloud-based has many advantages. The cloud is also known to be more secure and faster. Sage 50cloud is a cloud accounting software that helps small businesses and companies with their accounting and tax preparation. The software also offers mobile accounting apps.

Another advantage of the software is that you can have the accounting and bookkeeping kept for you on the cloud. The cloud accounting software will help you avoid losses and ensure you get a complete and accurate accounting record.

The software has 3 versions available at the moment. The first version is the Sage 50cloud Demo. The second version is the Sage 50cloud Starter. The third version is the Sage 50cloud Plus.

Wave : Best Online Accounting Software for Multiple Companies

Wave Pricing

Wave pricing is an accountancy method used for pricing a range of products or services.

Wave Pricing is also known as a slope of demand curve.

An example of a wave pricing strategy is sending a letter to a customer with a hand written note at the top (Dear Mr. Max), then on the next line there is a discount message like: "I am sending this letter to you because you did not pay for the last letter." Then comes a line: "because your payment was late by 10 days." This letter ends with "Thanks for being a loyal customer!"

The consumer reads the letter and thinks: "The letter is direct to the point, and my payment was late, then I received a complement." The consumer is attracted to the offer of a lower price (the failure rate of a first purchase – the amount that was lost due to the failure rate is improved) and of the discount offer as a result.

In the same way, the discount profts have its own advantages; a customer is more prone to make the same purchase after their initial purchase. This is very effective when you are selling items that are related to a previous purchase. This objective model of behavior is built into the mathematics of gestalt psychology.

Two examples of this pricing scheme are as follows:

Wave Features

So, this accounting software markets itself as "Complete Business Value Chain." It's claimed to have a "Discipline and Reliability to deliver Proven ROI" and they have "Confidentiality and Security to Protect You." All this sounds nice. But can Glapush integrate within our small team? Is this free for small businesses?

More specifically, can Glapush integrate with Bountysource and increase our bounties substantially?

Bountysource is a place where people can request trust to be awarded with bounties in exchange for various tasks. It looks like it might work well with Glapush, but we don't know. Here's what we can see currently on Bountysource, currently no integration:

The main difference we found between Glapush and Wave being the lack of a user manual. Other than that we cannot tell any differences between Glapush and Wave. The only differences we could see is that Glapush tries to say Bountysource is the same as Glapush's Buyers Club. While that might be true for Glapush, Bountysource is a separate site with its own rules where people can request bounties for work done for business. In addition, it looks like Wave is free and Glapush is payed version, which is something we need to consider. Like I've said, we don't know enough about these accounting softwares.

SoftLedger : Best for Consolidating Entities With Cryptocurrency Transactions

SoftLedger is a blockchain-based accounting software. It has been designed to meet the needs of large corporations that want to consolidate their entities, such as small businesses, accounting institutions, and non-profit organizations, with cryptocurrency transactions.

Softledger is available through the use of a secure smart contract on the Ethereum blockchain. This removes the need for a third party service and reduces the cost and risk of data protection.

The software has already proved useful for a company producing cryptocurrency tokens. Smart contracts applied to this platform provide a means for private and public keys to be exchanged automatically, without anyone trusting one another. In addition, the system can be backed by a cold wallet for maximum security. Financial institutions have also found it a useful tool for tracking and storing asset stream transfers, monitoring loans, leasing assets, and compensating employees.

Softledger is available as both a cloud-based service and a software for hardware mounted across the network. Users can also purchase the source code for the software, which can be customized according to their needs.

The best part of the software is that it is a modular solution and supports the creation of private or public chains. This means that users can customize the platform in accordance with their business needs.

MultiChain : Best for Developing Distributed Ledgers

SoftLedger Pricing

SoftLedger has one large pre-built network and with it the enterprise multi coin proof of stake system is ready to use, that can be set up within a day. It is completely open source. Because of this, SoftLedger was able to attract quite a few companies in 2018 and 2019.

The best part about SoftLedger is that it is a solution that is built on the blockchain and is already concluded blockchain based smart contracts, that helps in reducing the paper issue of accounting completely. All you need to make the final step is the right smart contract which is going to be created on the smart contract running via the blockchain.

All you need to make the final step is the right smart contract which is going to be created on the smart contract running via the blockchain.

SoftLedger Features

Too many companies have a slow, ineffective in-house accounting system that breaks down under the pressure of high volume. Soft ledger is one of the best accounting software that can be used by different companies to meet their accounting needs.

Its integrated suite of applications provides a reliable and powerful financial management system that helps them save time and money, which ultimately means peace of mind for both small and large business owners.

More importantly, it also provides the power of an autonmous ledger. This will help all the users across the company streamline their financial transactions to be able to utilise limited resources for the most important tasks.

Remarkable Features of Soft Ledger Include;

Concept of scalable accounting

The software is scalable that allows users to deploy it to their needs. It supports a variety of ledger structuressuch as multi-company, multi-currency and multi-address.

Non transactional accounts

The software treats accounts as non transactional, meaning that all transactions are recorded as line items within the ledger.

Automated reconciliation

This software provides a number of features that help you eliminate manual work from reconciliation process such as basic bookkeeping and customized margin calculations.

Autonomous cash management

Bottom Line

Software developed to handle accounting needs varies based on the nature of your business. The type of business you run and the type of accounting you need greatly affect your software application. It’s just not practical for the typical small business to run complex accounting software. Thus, software designed for multinational enterprises will have an overwhelming amount of options for respondents looking for anything short of standard financial management.

Before narrowing the applications down to the best multi-company software, it will be helpful to understand the two general categories of accounting software applications. They are columnar and relational.

Columnar applications are usually found with manufacturing and production-based businesses. This type of software is basically made for accounting that is exclusively based on that which is in a column. Everything in that column is equal and separate. It is commonplace in the manufacturing industry.

Relational applications are usually found in a business of any size, but particularly those services that are service-based. This type of software is made to manage every aspect of the company’s business to its customers. It definitely covers every form of service, every customer’s particular needs. It is a better fit for general business software.

It’s also helpful to know if you prefer a desktop software package or a Web-based program. Each has its own respective use and advantage.