Today in this article, we are going to discuss the combining of reports in QuickBooks from multiple company files. If you are also wandering for this topic then read the article till the end, and combine reports in QuickBooks as per your need.
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Two or more QuickBooks company files store data separately and you want to combine data in one single report so, it is possible you can combine reports in QuickBooks. There is some version of the QuickBooks designed with this task in mind. The combining reports of multiple companies provide you with combined balance sheets, statements of cash flows, and profit and loss. The combined data is exported into Microsoft Excel or spreadsheet files.
Most of the people currently using the traditional method export the report into excel, which opens the second report which you want to combine then opens a new Excell worksheet here combines all the previous reports and saves it. This task approx one to 3 hours while the third-party application does in a few minutes the name of third-party apps are- Spotlight Reporting, FathomHQ, and Bison Analytics.
Important Points to Know Before Combine Multiple Company Files
- If you want to combine two company files then the name, type, and hierarchical level should be the same.
- Account names are not cased sensitives if you write XYZ.qbw will be considered the same as xyz.qbw.
- In Quickbook all the accounts listed by its type. Into each type, the accounts are listed in order of changes in the first company file. After that the accounts from other company files are added in the order they are encountered.
There are some accounts that can’t be combined-
- You can combine different level account, for example, a mobile account can’t be combined with a mobile subaccount.
- If you make a mistake in spelling than you can’t combine reports
- For example- mobile and mobyle both are different.
- You wrote a different account number for example 6115 – Utilities is different from 6778- Utilities.
- You choose two different option Account with and without an account number.
- Your file in single-user mode to correct this switch to a multi-user account.
These are the following combined reports in QuickBooks from multiple company files.
- Profit & Loss standard
- Profit & Loss by Class
- Balance sheet standard
- Balance sheet summary
- Statement of Cash-flow
- Trial balance
Profit of using Financial Reports in QuickBooks
- Reduce errors: When you manually copy and paste your report then the chances of errors increase while you did the same thing with QuickBooks then the chances of errors are 0%.
- Save time: When you use the traditional method of copy and paste on an excel spreadsheet then it will take more time as compared to the combine reports in QuickBooks.
- All the reports at one place
One of the biggest advantages of combining reports is your all reports are placed in a single place. If you need any report so you don’t have to search anywhere you have simply clicked on a single file and accessed your report.
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How to Combine Reports in QuickBooks
There are 3 methods to combine reports in QuickBooks from multiple company files.
Method 1: Combine Reports in QuickBooks Enterprise
- Go into the Reports menu
- Click on Combine Reports from Multiple Companies.
- Then click on Add Files.
- After that, select Open. (Repeat again for additional files).
- Then select the reports which you want to combine.
- After that enter the date range you want to use within From and To date range.
- Then click on Combine Reports in Excel.
- After that, all the information you have combined will open into an Excel spreadsheet.
Method 2: Run Third-Party Software
In the market, there is a lot of third-party software available that works with QuickBooks Desktop. This software provides Combine Reports in QuickBooks so, you have an option to choose third-party software.
Method 3: Combine Reports by Using Microsoft Excel
- Open your company file.
- Selected report export into Excel sheet after that save it.
- Again open the second company file which you want to combine.
- After that create the same report, again export to a new worksheet in the same workbook and save it.
- Simply combine the two reports into a third worksheet.
- After that save the workbook.
The End Line
Hopefully, now you are able to solve the query of how we can Combine Reports in QuickBooks, Now you know what are the things we should keep in mind before combining any report in QuickBooks. There are three simple ways to combine reports first one is to Combine reports in Quickbook second one is Third-party software and the third one is to Combine Reports using Microsoft Excel you may choose any one of these it’s up to you.
We hope you like this article, still, if you need help to combine the files in QuickBooks then you can ask for a QuickBooks ProAdvisor for guidance.