How Intuit Enterprise Suite handles several companies
By Scott Engler · Averan Advisors · Updated 3 October 2026
Many owners run more than one legal company. A franchise owner often puts each location in its own LLC, and a property owner often puts each building in its own LLC. Intuit Enterprise Suite keeps every company's books separate, records the money that moves between them once, and adds them together into one set of statements.
Three terms, in plain English
| Term | What it means |
|---|---|
| Entity | A separate legal company, such as an LLC or a corporation, with its own bank accounts and tax return. |
| Intercompany transaction | Money or charges that move between two of your own companies, such as a loan from the parent company to a new location. |
| Elimination | Removing those intercompany amounts when the companies are added together, so the combined statements only show business with outsiders. |
| Consolidated statements | One profit and loss statement and one balance sheet that add all of the companies together after eliminations. |
How it works in QuickBooks Online
- Each company has its own subscription and its own login.
- A loan from one company to another is entered twice, once as money owed in each company.
- Someone exports each company's reports and adds them together in a spreadsheet, or pays for an outside app such as Fathom or Reach.
- The intercompany amounts are removed by hand in that spreadsheet.
How it works in IES
- All of the companies sit in one login with shared lists of customers, vendors and accounts.
- A loan between two companies is entered once, and IES records both sides.
- IES produces consolidated statements with the intercompany amounts removed.
- Dimensions such as location or brand work across every company, so one report can show all of them.
Intuit says these tools can replace add-ons such as Reach, Fathom, LivePlan and Syft for some companies.
Setting up the entities
- List every legal company and the bank accounts each one owns.
- Use one chart of accounts for all of them, so the same account number means the same thing in every company.
- Write down which companies lend to or charge each other, and how often.
- Decide which dimensions you will report on, such as location, brand or region.
The franchise owners we work with often run several locations under several LLCs. The franchise resource center has unit-level numbers by brand.
Common questions
What is an intercompany elimination?
It is the removal of sales, charges and loans between your own companies when their books are added together, so the combined totals only show business with outsiders.
Can QuickBooks Online do multi-entity accounting?
Each QuickBooks Online subscription covers one company. Combining several takes a spreadsheet or an outside app.
How many entities can Intuit Enterprise Suite hold?
The number of entities is set in the quote and changes the price.
Moving systems with Averan Advisors
Averan Advisors keeps the books for companies on QuickBooks Online and Intuit Enterprise Suite. Our team includes Certified QuickBooks ProAdvisors. Before a move, we reconcile the accounts and fix the chart of accounts so the new system starts from correct balances. After the move, we compare the reports in the old and new systems line by line and close the first month in the new one.
Sources
- Intuit, Intuit Enterprise Suite for construction
- Intuit, Intuit Enterprise Suite pricing page
- ERP Research, Intuit Enterprise Suite pricing, July 2026
Prices, dates and features are as of 3 October 2026 and can change. Averan Advisors is not affiliated with Intuit, Oracle, Sage or Microsoft. This page is an educational summary and is not legal or tax advice.
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