Xero consolidated financial statements: what Xero offers a group and what adds them

Xero consolidated financial statements: what Xero says

Xero's own answer is that consolidated reporting across Xero organizations is not currently planned: a Xero Community Manager wrote that on July 23, 2025 and pointed to app partners on the Xero App Store.

Xero's Australian multi-entity guide, which has no US edition, says group statements involve combining income statements and balance sheets, eliminating intercompany transactions, adjusting for ownership percentages and presenting consolidated cash flow and equity. Each Xero organization has its own subscription, per Xero Central. For group-level insight the guide lists exporting reports and balances or integrating with group reporting tools.

Exporting each Xero organization to Excel

The route without an app is Excel: Xero Central documents the export and Microsoft documents the combining.

1. In each organization, open Reporting, then All reports, find the report and select Export. Choose Microsoft Excel. You need the administrator, standard + reports or viewer role.
2. Put the exports in sheets with the same layout and labels, for the same period and basis.
3. In Excel, choose Data, then Consolidate, pick a function such as SUM and select Add for each range.

Excel combines by position or by category, and labels that do not match become separate rows. Joiin's help center says Xero uses Xe.com exchange rates, which may differ slightly from Joiin's. The consolidated profit and loss multiple companies Excel page has the monthly steps.

Apps that build the group statements from Xero

Xero's App Store collection for multi-entity businesses lists Joiin and Syft, and Xero says it gives no guarantees about listed apps. Joiin reads each Xero organization through Standard with Reports or Advisor permission and builds the consolidated profit and loss, balance sheet and cash flow on every plan. Best consolidation software for Xero compares the apps; Joiin Xero covers the connection.

Fathom says entities from Xero, QuickBooks, MYOB or Excel can be consolidated together. Xero announced it would acquire Syft, which stays standalone, and Xero describes Syft as built for accountants and bookkeepers.

Intercompany balances in a Xero group

The controller of an eight-location restaurant group, each location its own Xero organization, must remove management fees and loans between locations before the lender's quarterly report. Xero's guide lists management fees, shared expenses and loans among intercompany items and says to eliminate them in group-level reporting.

Joiin's help center notes that Xero cannot keep intercompany balances in an Accounts Payable account of their own, and shows how to eliminate part of a shared account. It adds that with a foreign currency, all sides of an intercompany item should be eliminated together, or the balance sheet can fall out of balance.

Which route fits your Xero group

Two or three organizations in one currency can stay in Excel. Five to ten with intercompany items or a company abroad suit an app. As read on October 30, 2026, Joiin Core is $77 a month for 5 companies, billed monthly, and Xero lists multiple currencies on Established, $97 a month at list price. Each Xero organization has one base currency, fixed after set-up, so figures from a company abroad need converting before they join the group.

Pick Syft for goodwill and non-controlling interest journals, and Fathom for a group that mixes Xero with QuickBooks Desktop or MYOB. A Xero group can add its organizations to Joiin during the 14-day trial, which runs on Max and takes no card.