How to consolidate Xero Profit and Loss reports from several organisations

Where Xero stands on consolidated reporting

The request Reporting - Ability to consolidate multiple Xero organisations on the Xero ideas board was opened on 22 October 2012 and had 279 votes on 7 November 2026. Its status is "Accepted". On 23 July 2025 a Xero community manager replied that work on consolidated reporting for multiple organisations is not currently planned, and pointed to Xero app partners for people who need it now.

So for several companies, each in its own organisation, you choose between building the consolidation yourself, as below, and using an app. The ideas board was checked on 7 November 2026; the status and the votes can change, and if Xero ships this, use it first.

This is also the short answer to "can you have multiple companies in Xero": a group can run one Xero organisation per company, and the reports stay per organisation. Combining them is the part you do outside Xero.

The manual method in Excel, step by step

Nothing here needs a tool. It takes about an hour for three companies the first time and much less when you reuse the workbook next month.

1. Export the same period from every organisation. In each one open Reporting, then Profit and Loss, set the same date range and the same basis (accrual or cash) for all of them, and use Export, then Excel. Do not edit the exports.
2. Put each export on its own sheet in one workbook, and name the sheets after the companies. Write the currency of each company at the top of its sheet.
3. List the accounts once. On a new sheet called Consolidated, list every account name that appears in any export, grouped in the order of the report: income, cost of sales, operating expenses. If one company calls an account "Sales" and another calls it "Revenue", decide which name wins and write the pairs in a small mapping table. Without this step the same account is counted twice, on two lines.
4. Pull each company's amount into its own column with a lookup on the account name (for example SUMIF on the sheet of that company). Use SUMIF rather than a typed number, so that a missing account gives 0 and not an error.
5. Convert the currencies. If a company reports in another currency than the group currency, add a rate cell for it and multiply its column by the rate. Decide one rate policy for the group (for example an average rate for the period), write it down with the source of the rate and the date, and use it every month.
6. Add an Eliminations column. List the amounts one company charged another in the period: a management fee, a recharge, goods sold between group companies. Take the amount off the income line of the seller and off the cost line of the buyer, in the same period and for the same amount.
7. Add up. The Group column is the sum of the company columns plus the Eliminations. Build the totals, Gross Profit and Net Profit with formulas, not typed numbers, so that anyone can audit them.
8. Check before you send it. For every company, compare the Net Profit on your Consolidated sheet (in its own currency, before conversion) with the Net Profit in its Xero export. They must be the same to the cent. Then check that the eliminations take the same amount off both sides.

Keep the workbook. Next month, export the new period, paste it over the old sheets and check that the account list did not grow: a new account in one company is the usual reason for a total that no longer matches.

Four mistakes that make a consolidation wrong

• Different periods. One company exported October and another October to December, or one used the cash basis and another accrual. The columns add up and the result still means nothing. Check the period line at the top of every export.
• Different currencies. Adding a pound amount to a dollar amount works in a spreadsheet and gives a wrong total. Every column needs a currency and a rate, including the group's own currency at 1.
• Account names that differ. The same expense appears on two lines, or two different accounts are merged by mistake because the names look alike. Use a mapping table and read it once a quarter.
• Counting inter-company amounts twice. A fee charged by one company to another is income in one file and a cost in the other. Left in, both inflate the group. Take both out, in the same period.

Option: Groupfold, the same steps with checks

Groupfold is a web page that does steps 2 to 8 for the Profit and Loss. You add the Excel export of each company (2 to 10 files for the same period), choose the currency of each, type the exchange rate and where it comes from, and read one consolidated Profit and Loss with a column per company, an Eliminations column and a Group column.

• Your files stay in the browser. They are read in the page and not uploaded.
• Net Profit is checked. Each company's Net Profit is compared with the one in its file. If one differs, the status turns red and the download stays closed.
• Clear errors. A file for a different period, an empty file, a report that is not a Profit and Loss, and a currency without a rate each stop the run with a message that says why.
• Names are matched by you. Accounts with different names stay separate until you map them on screen. The mapping downloads as a small file you can load next time.
• Excel out. The download has four sheets (Consolidated, Sources, Mapping and Notes) and the totals are real formulas. The Notes sheet holds the rate and source you wrote for each company.

What it does not do. It covers the Profit and Loss only, without a balance sheet or a cash flow. It does not connect to Xero, so you export the files yourself. It does not look up exchange rates, and it does not find inter-company amounts: you type the eliminations on each line. It is a management reporting aid, with no claim of IFRS compliance and no accounting advice. It was tested with files in the Xero Global layout; if your file is not recognised, the tool tells you why.

Disclosure. Atesen Software, which publishes this guide, makes Groupfold. The manual method above works without it.

Price. The preview is free and needs no sign-up. The Excel download is a $19 pass for 30 days with unlimited runs; prices exclude VAT and sales tax. Founding offer: FOUNDING40 takes 40% off, so the pass is $11.40, until 30 November 2026. Full refund within 14 days of payment. Checkout is by Paddle.

Add your Profit and Loss files, free preview About Groupfold

Which route fits

• Two or three companies and a monthly report you are happy to build once: the Excel method above, free.
• Several companies, several currencies and a report every month, still from exports: Groupfold.
• A live connection to Xero, a balance sheet or a cash flow, or reports that refresh by themselves: an app that connects to Xero. See the comparison with five of them.

Atesen Software is independent. Xero is a trademark of Xero Limited, and this page is not affiliated with or endorsed by Xero.

Questions about this guide: support@atesensoftware.com.