In this guide · 8 sections
- 01Why each company needs its own books
- 02Xero, QuickBooks and Zoho Books for several entities
- 03What three entities cost per year
- 04Handling transactions between your companies
- 05Consolidation and a group dashboard
- 06Set-up checklist for a small group
- 07Do it yourself or get help?
- 08Frequently asked questions
Short answer
Each company needs its own organisation and subscription in Xero, QuickBooks Online or Zoho Books, all reachable from one login. Their standard Singapore plans don't consolidate a group, so record intercompany transactions on both sides and use a reporting app or dashboard for the group view.
Why each company needs its own books
Every Singapore company is a separate legal entity with its own UEN, bank account, tax returns and, if registered, GST returns. Mixing two companies in one set of books makes GST returns, corporate tax and audits much harder, and makes it easy to pay one company's bills from another without a record.
So the basic rule in all three popular cloud packages is the same: one organisation (or company file) per legal entity. What differs is pricing, multi-currency support and how easily you can see the group together.
Xero, QuickBooks and Zoho Books for several entities
All three let one person hold several organisations under one login and switch between them. Each organisation is billed separately.
| Software | How multiple companies work | Singapore price per entity (Oct 2026) | Multi-currency |
|---|---|---|---|
| Xero | One subscription per organisation; one billing account can pay for several | Starter S$39, Standard S$70, Premium S$95 a month | Premium only |
| QuickBooks Online | Each company file needs its own paid subscription; switch files with one sign-in | Simple Start S$31, Essentials S$57, Plus S$78.99, Advanced S$124 a month | Check plan details |
| Zoho Books | Up to five organisations per email by default; each on its own plan | Free plan; Standard S$15, Professional S$30, Premium S$45 per org a month, billed annually | From Standard |
Check the current prices on Xero's Singapore pricing page, QuickBooks Singapore pricing and Zoho Books pricing. Intuit's help article on adding another company confirms each company needs its own paid subscription, and Zoho's multiple organisations FAQ gives the five-organisation default. Our Xero vs QuickBooks comparison covers the wider choice.
What three entities cost per year
Here is a simple comparison for a small group with a trading company, a service company and a holding company.
- Xero: 2 x Standard + 1 x Starter(S$70 x 2 + S$39) x 12, GST includedS$2,148/year
- Xero: all three on Premium (multi-currency)S$95 x 3 x 12S$3,420/year
- QuickBooks: 2 x Essentials + 1 x Simple Start(S$57 x 2 + S$31) x 12, as listedS$1,740/year
- Zoho Books: 2 x Standard + holding company on FreeS$15 x 2 x 12, annual billing, excluding taxS$360/year
Illustrative, using regular list prices as of October 2026. Choose the plan each entity actually needs, and check the Free plan's limits before relying on it; a dormant holding company may need far less than a trading company.
The cheapest option isn't automatically right. If your accountant works in Xero, the cost of them learning another package, or of converting later, can outweigh the subscription difference.
Handling transactions between your companies
Intercompany transactions are where group books usually go wrong: one company pays a bill for the other, lends it money or recharges staff costs, and only one side gets recorded.
Create matching intercompany accounts
In each company, add an account such as 'Due from Company B' (asset) and 'Due to Company A' (liability). Agree the names with your accountant.
Record every transaction on both sides
If Company A pays Company B's supplier, Company A records an amount due from B, and Company B records the expense and an amount due to A.
Use invoices for recharges
Recharging staff, rent or management fees should go through a proper invoice from one company to the other, with GST if the charging company is registered and the supply is taxable.
Reconcile the balances monthly
'Due from B' in Company A should equal 'Due to A' in Company B. A difference means a missed entry.
Settle by bank transfer
Pay intercompany balances by transfer between the companies' bank accounts, so the bank feeds match.
Consolidation and a group dashboard
Consolidation means combining the entities' accounts into one set of group figures and removing the intercompany balances so they aren't counted twice. None of the standard Singapore plan pages for Xero, QuickBooks or Zoho Books lists group consolidation as a built-in feature.
Accountant consolidates
- Done at year-end or quarterly in the accountant's tools
- Includes eliminations and adjustments
- Needed where group accounts are required
Best for: Statutory or formal group reporting.
Reporting app
- Apps such as Syft, which Xero owns, consolidate across entities
- Monthly management reports for the group
- Subscription cost on top of accounting software
Best for: Groups wanting regular consolidated reports.
Group dashboard
- Cash, receivables and sales per entity side by side
- Built in Looker Studio or Power BI from each file
- A management view, not formal consolidation
Best for: Owners who mainly want one screen for cash and sales.
Xero's Syft page describes consolidation across platforms, entities and currencies, available through the Xero App Store. For most two or three-company groups, a monthly dashboard plus the accountant's year-end consolidation is enough.
Set-up checklist for a small group
Getting the structure right at the start saves a lot of clean-up later.
Multi-entity set-up
If you are moving an existing company onto new software, our guide to opening balances and the conversion date covers the switch, and the Xero GST F5 checklist helps each GST-registered entity file correctly.
Do it yourself or get help?
Creating extra organisations is easy. Setting them up consistently, with the same account structure, intercompany accounts and bank feeds in each, is where an afternoon of care saves months of reconciling later.
Our Accounting Software Setup (S$490) sets up Xero, QuickBooks Online or Zoho Books in your company's name with the chart of accounts and tax settings agreed with your accountant, bank feeds, branded invoices and user access; each additional entity is a separate set-up. For the group view, our Finance Dashboard (S$790) builds up to four pages in Looker Studio or Power BI, covering cash, receivables, payables and sales against expenses. Neither includes bookkeeping or consolidation entries, which stay with your accountant.
Frequently asked questions
No. Xero charges per organisation, and each company should be its own organisation with its own subscription. You can switch between organisations with one login, and one billing account can pay for several organisations, but each is billed separately at its plan price.
Yes, with one paid subscription per company. Intuit's help says you can add multiple companies under a single QuickBooks Online account and switch between them without signing out, but each company you create requires its own separate paid subscription.
Not in their standard Singapore plans as listed in October 2026. Consolidation is usually done by your accountant, or with a reporting app such as Syft, which Xero owns and offers through the Xero App Store. A dashboard showing each entity side by side gives a management view but isn't formal consolidation.
Record it in both companies: an amount due from the borrowing company in the lender's books, and an amount due to the lender in the borrower's books, using matching intercompany accounts. Pay it by bank transfer and check monthly that the two balances agree. Ask your accountant about documentation and any interest.
On regular Singapore list prices in October 2026, Zoho Books is the cheapest per organisation, with a free plan and Standard at S$15 a month on annual billing. Xero and QuickBooks cost more per entity. Your accountant's preferred software, and the features each entity needs, often matter more than the price difference.