Use this workflow to consolidate your subsidiaries' financials for a single period, with the ability to review a trial-balance-style extract and the resulting consolidation journal entry before posting to the parent company.


If you'd rather skip the per-company review and post everything in one click, use the Multi Period / Company Consolidation workflow instead. You can still use Single Period Consolidation later to look up the extract details for any period that's already been posted.


How It Works


Step 1 — Select the period

Choose the fiscal month (calendar month in QuickBooks) you want to consolidate.

Once you select a period, any connected subsidiary with balance activity in that period will appear in the workflow matrix table.


Step 2 — Extract subsidiary balances

Click Run Workflow in the Extract Subsidiary Balances column to pull account balance details from each subsidiary. You can select all to run the extract across every subsidiary at once.


Step 3 — Review and post

For each subsidiary, click Review. You'll see two side-by-side tables:

Left side — Subsidiary trial balance (as extracted from QBO):

  • Beginning balance, period activity, and ending balance shown in DR/CR format

Right side — Parent-formatted consolidation entry:

  • The extracted period activity reformatted into the parent company's COA (based on your mappings)
  • Displayed as a traditional DR/CR trial balance — this is the consolidation journal entry that will post to your parent QBO company

You have two options:

  • Click Confirm & Post to post the consolidation JE to your parent company, or
  • Click Reviewed to mark the entry as reviewed without posting (useful if you want to come back to it)

Repeat for each subsidiary with period activity to consolidate.


Step 4 — Post reviewed entries (optional)

If you marked any entries as Reviewed but didn't post them in Step 3, return and click Confirm to post them.

Consolidation journal entry details

  • Each JE posts to the Division (Location) that JustConsolidate automatically created in your parent company for the relevant subsidiary
  • Entries are dated the last day of the fiscal period you selected
  • If your subsidiary companies use Class IDs in QBO, those Class IDs carry over to the consolidation journals posted in the parent company
  • JE numbers follow a consistent syntax to make them easy to identify: PDXXX(realm ID of QBO company)


Consolidated reporting

Once you've posted consolidation entries for every subsidiary, the rest of your consolidation and reporting work happens directly in your parent QBO company.

  • Segmented reporting — P&L, Balance Sheet, and Cash Flow reports in QBO can be filtered by Division (Location) and Class, giving you full flexibility to run both segmented and consolidated views.
  • Adjusting entries — Book intercompany eliminations, minority interest adjustments, and other consolidation entries directly in the parent company. Consider creating a dedicated Division (Location) to segment these adjustments from your subsidiary-sourced balances.