If you run a group of companies in Xero, sooner or later someone asks for one set of numbers for the whole group. Xero doesn't do that by itself: each organisation has its own books and its own reports. This guide covers what Xero says, the three ways groups get consolidated figures, and the things that usually go wrong.
Can Xero do consolidated accounts?
No. Consolidated reporting across organisations has been requested on Xero's ideas forum since 2012. In July 2025 Xero replied that work on consolidated reporting is not currently planned, and pointed people to apps on the Xero App Store. So the options are an app, a spreadsheet, or keeping everything in one organisation.
Option 1: one organisation with tracking categories
If the Xero entities you want to consolidate are really divisions, branches or projects of one business, you may not need separate organisations at all. Put them in one Xero organisation and tag transactions with a tracking category. You can then split the Profit and Loss by division and still see the total. See Xero reports by tracking category.
This doesn't work for separate legal companies, which need their own books. Ask your accountant before merging anything.
Option 2: consolidate in Excel
For a small group with a handful of companies, a workbook is often enough. The usual steps:
- Export the same reports for the same dates from each organisation: the Profit and Loss and the Balance Sheet, with the same period and layout. See exporting data from Xero.
- Map each company's accounts to one group chart of accounts. If the companies use different account names or codes, a mapping table saves you redoing it every month.
- Eliminate intercompany balances and transactions on a separate sheet: loans between group companies, management fees one charges another, sales within the group. Reconcile both sides first; if company A says it's owed 10,000 and company B says it owes 9,500, find the difference before eliminating. Post each elimination with both sides (for intercompany sales, remove the sale in one company and the matching purchase in the other) so the eliminations net to zero. If the parent owns shares in a subsidiary, also eliminate the parent's investment against the subsidiary's share capital; partial ownership and profit left in intercompany stock are where you want your accountant.
- Translate any company that keeps its books in another currency. Under IFRS (IAS 21), assets and liabilities go at the closing rate and income and expenses at the rates on the transaction dates, where an average rate for the period is an accepted approximation if rates haven't moved much. Share capital stays at the historical rate. The difference goes to a translation reserve in equity, and the balance sheet only balances once it's in. US GAAP has its own rules (ASC 830).
- Add it up and check it balances. The consolidated balance sheet should balance, and the elimination column should net to zero.
Once the mapping is set up, the monthly work is mostly getting the exports (step 1) and reconciling intercompany balances (step 3). If the exports arrive in your inbox as Excel files on the 1st, the first part takes care of itself.
Option 3: a consolidation app
Once you have more companies, foreign currencies or partial ownership, an app starts to make sense. Some apps that offer consolidation for Xero, going by each vendor's own description:
- Syft Analytics (Xero agreed to buy it in 2024): consolidation with eliminations, partial ownership and multiple currencies.
- Joiin: built around consolidation, with account mapping, eliminations and multi-currency.
- Spotlight Reporting: reporting for accountants and advisors, with consolidation, eliminations, multiple currencies and partial ownership.
- Fathom: management reporting with consolidation and eliminations across currencies.
- G-Accon: reporting and consolidation, with eliminations, inside Google Sheets rather than Excel.
They differ in how they handle partial ownership, currencies and audit trails, so try them on your own group before choosing. Syft lists a 14-day trial; check the others' sites for theirs.
Things that usually go wrong
- Different charts of accounts. The same cost in two companies lands in differently named accounts. Map once, and agree a standard chart for new companies.
- Different year ends or cut-offs. If one company has a different year end, or closes its month later than the others, its figures won't line up. Run every company to the same dates and agree a group close date.
- Intercompany balances that don't match. Usually timing (one side has booked an invoice, the other hasn't yet) or currency. Reconcile before eliminating.
- Translating the whole P&L at the closing rate. Income and expenses should use transaction-date or average rates, not the rate on the last day.
Where Reportpost fits
Reportpost doesn't consolidate. What it does is send each company's standard reports on a schedule, so you're not exporting them by hand every month. Set up one schedule per organisation, with the Profit and Loss and Balance Sheet as Excel, and the files for every company arrive on the same morning ready for your workbook or your accountant. If one email covering every company in the group would suit you better, tell us; it helps us decide what to build next.
Related: which Xero reporting tools email reports on a schedule, reporting for multiple branches in Xero and exporting Xero reports to Excel automatically.