The 6 Best Financial Consolidation Software Solutions in 2026

What is financial consolidation software?  

Financial consolidation software automates the process of combining financial data from multiple legal entities, subsidiaries, or business units into one set of consolidated financial statements. It is a tool that helps eliminate manual spreadsheets, handles intercompany eliminations and multi-currency translation, and produces accurate, comparable results for reporting and analysis.

This guide will help you compare different software options and select the best fit for your needs.

Quick summary of financial consolidation software:

• ‍Fathom: Fast, polished multi‑entity consolidation with full and partial eliminations, supporting 97 currencies, up to 50 entities in multi-currency consolidations, and up to 300 entities in single-currency groups.

• ‍Spotlight Reporting: Multi-entity consolidation focused on presentation-ready reports.

• ‍Syft Analytics: Flexible consolidation across complex group structures and supports unlimited entities.

• ‍Joiin: Scalable, cloud-based consolidation with automated branded reporting.

• ‍Futrli: Daily‑refreshed consolidated reporting plus group forecasting, for planning‑heavy SMEs.

• ‍Excel: Highly customisable, Power Query–driven consolidations but requires manual logic and careful maintenance.

Why it matters: Financial consolidation for small businesses and advisors

• ‍Provides accurate group-level visibility: Consolidation software brings everything together into one unified, accurate view, eliminating duplicated revenue, expenses, assets, and liabilities from intercompany transactions.

• ‍Improves financial planning and strategic decision‑making: With clean consolidated financials, teams can compare entities, track group KPIs, and plan more effectively across brands, regions, or subsidiaries.

• ‍Reduces risk and manual error: Automated consolidation removes the risks of errors by applying consistent rules every period.

• ‍Strengthens credibility with stakeholders: Banks, investors, and boards require clear group performance. Accurate consolidated reports demonstrate financial control, maturity, and strong governance across the organisation.

Key features in financial consolidation to look out for:

• Multi-entity consolidation limits (how many companies can be included)
• Intercompany eliminations and adjustments
• Multi-currency translation and custom exchange rates
• Automated data imports and system integrations
• Custom reporting and financial statements
• Scalability and user collaboration
• Audit trails and security controls

The top 6 best consolidation tools for accurate business planning

1. Fathom

Fathom’s financial consolidation software helps businesses and advisors consolidate up to 300 entities with multi‑currency support, eliminations, and flexible reporting. It integrates with Xero, QuickBooks, MYOB, FreeAgent, Sage and Excel, and allows both full and partial eliminations depending on account setup.

Strengths:

• Fast, error‑proof consolidations: Consolidations can be completed in minutes, with automated data refreshes from connected ledgers.

• Multi‑currency consolidation: Converts 97 currencies using average rates for P&L and closing rates for balance sheet items.

• Scales up to large groups: Consolidates up to 50 entities in multi-currency groups and up to 300 entities in single-currency groups.

• Advanced reporting: Provides consolidated statements, entity-by-entity reporting, and visual analysis tools, including KPI comparisons.

Considerations:

• Management-focused reporting: Consolidated reports are designed for management insight and advisory use, rather than producing statutory, audit-ready consolidation outputs.

• Controlled handling of partial eliminations: Partial eliminations are managed via an Eliminations Company, allowing entries to be reviewed, adjusted, and documented each period for greater transparency.

Best suited to: Accounting firms and finance teams that need fast, accurate management consolidations, strong visual reports, and scalability across multi‑entity structures.

2. Spotlight Reporting

Spotlight Reporting provides modular reporting, forecasting, and consolidation tools for accountants and advisory firms globally. It allows consolidations for up to 75 entities, with inter‑entity balance elimination, and unified charts of accounts,

Strengths:  

• Multi‑entity consolidations: Supports group consolidations up to 75 entities with multi‑currency translation and eliminations.

• Unified chart of accounts: Aligns different COAs for consistent group reporting.

• Allows removal of inter-entity balances: Suited for groups with regular recharges or intercompany handling.

• Visual reporting: Dashboards, KPIs, and customisable branded report packs.

Considerations:

• Onboarding setup needed: Advanced consolidation methods (e.g., acquisition/proportional) may require additional onboarding.

• Subscription cost scaling: Adding groups or more entities increases the subscription cost, depending on the package.

Best suited to: Advisory firms seeking board-ready consolidated reports.

3. Syft Analytics

Syft Analytics supports unlimited entities, multi‑level corporate structures, and professional consolidation methods, including acquisition and proportional consolidation. It integrates with most major accounting platforms and supports over 170 currencies.

Strengths:

• Unlimited entities and structures: Ideal for large, complex groups with multi‑layer consolidations.

• Offers full professional and consolidation methods: Provides acquisition methods (with goodwill, fair value adjustments, non‑controlling interest, and consolidation journals) or proportional consolidation for joint ventures.

• Transaction‑level eliminations: Eliminates intercompany sales, loans, recharges, and balances at granular detail.

• 170+ currencies with editable rates: Strong FX handling across global entities.

Considerations:

• ‍Features depend on plan: Consolidations require the Standard plan or above.

• ‍Not a statutory consolidation engine: Designed primarily for consolidated management reporting.

Best suited to: Accounting practices and advisors needing consolidated reports and consolidation methods.

4. Joiin

Joiin is a flexible, cost-effective consolidation and reporting platform used widely by accountants and multi‑entity SMEs. It consolidates data from various accounting systems and provides customisable elimination rules and multi‑currency support.

Strengths:

• Flexible eliminations: Create elimination groups (1:1 or 1:many), apply exclusions, and manage netting adjustments.

• Multi‑ledger consolidation: Supports Xero/QBO/Sage/spreadsheets without extra setup.

• Unlimited reports and users: Ideal for multi‑client accounting firms.

• Branded report packs: Presentation-ready board packs generated quickly.

Considerations:

• Focused feature set: Optimised for simple consolidations and essential reporting, rather than complex acquisition accounting.

• Requires configuration: Eliminations require configuration for complex group structures.

Best suited to: Accounting firms and SME groups requiring flexible, customisable multi‑entity consolidations, and scalable multi‑client reporting workflows.

5. Futrli

Futrli provides consolidated reporting, budgeting, and forecasting with daily data synchronization across different accounting systems. It is designed for groups needing both consolidated actuals and consolidated planning.

Strengths:

• ‍Consolidated forecasting: Combine multiple entity forecasts or create new group‑level forecasts.

• ‍Offset‑group eliminations: Automates intercompany elimination through rule-based offset groups.

• ‍Multi‑currency with FX overrides: Access live FX rates or set your own for budgeting and reporting.

• ‍Pre-built group COA structures: Speeds up setup for multi‑entity consolidations.

Considerations:

• Increased costs: Additional fees may apply per consolidated child entity.

• Limited features: Not suited for statutory consolidation requiring NCI or acquisition accounting.

Best suited to: SMEs and advisory teams needing daily‑refreshed, multi‑entity consolidated reporting.

6. Excel

Excel remains a widely used consolidation tool due to its flexibility and accessibility. Teams can consolidate data using the Consolidate feature or Power Query to combine multi‑sheet or multi‑file data. However, Excel lacks built‑in consolidation intelligence.

Strengths:

• Flexibility: Allows consolidation of logic and reports, with sophisticated functions and pivot tables that support complex calculations and analyses.

• Unlimited customisation: Build fully bespoke consolidation models.

• Power Query automation: Automates combining data from multiple sheets or files with consistent transformations.

• Familiarity: Easy organisational-wide adoption, and is often readily available within businesses, eliminating the need for additional software purchases.

Considerations:

• No native eliminations: Intercompany eliminations must be created manually.

• High risk of errors: Manual processes and a lack of automation may make consolidation more error-prone and time-intensive for large entity groups.

Best suited to: Finance teams that need custom consolidation logic or those using Excel for consolidation data.

How to choose the right consolidation tool (Checklist)

Choosing consolidation software is all about improving accuracy, reducing manual workload, and giving teams more time for analysis and advisory work. Here's what to look for depending on your role, goals, and group structure:

For advisory teams:

Look for tools that streamline multi‑client workflows and reduce the monthly reporting grind:

• ‍Automated client data sync: Ensure the tool connects directly to ledgers (Xero, QuickBooks, Sage, MYOB) so entity data refreshes automatically, reducing manual imports.

• ‍Branded multi‑entity reporting: Tools with templated or customizable client-ready reports help firms deliver polished, professional consolidated packs consistently.

• ‍Intercompany eliminations and multi‑currency support: Choose platforms that handle eliminations and FX translation cleanly, so you spend less time fixing errors and more time advising clients.

For multi-entity clients:

Prioritise scalability, data integrity, and easy roll‑ups across complex structures:

• High entity limits or unlimited consolidation: Larger groups need tools supporting 50+, 100+, or even unlimited entities without slowing down.

• Scalable reporting and group roll-ups: Look for multi‑level consolidations, entity drilldowns, and side‑by‑side reporting to keep group-wide visibility clear.

• Strong integration ecosystem: Choose software that can consolidate data across different accounting systems or mixed ledgers, which is crucial for franchisors, holding companies, and acquisition-heavy businesses.

For SME businesses:

SMEs need consolidation tools that are intuitive, quick to adopt, and minimise complexity:

• Ease of use and quick setup: Tools with simple onboarding, no heavy configuration, and guided consolidation workflows are ideal for lean teams.

• Flexible reporting templates: The ability to quickly generate consolidated P&Ls, balance sheets, KPIs, and budgets saves time every month.

• Integrated forecasting for planning: If your business uses consolidation to support budgeting or scenario planning, look for built‑in forecasting features.

For firms scaling advisory services:

Growing firms need to standardise processes and collaborate efficiently across teams:

• Workflow automation: Automated consolidations, scheduled reporting, and recurring processes reduce the manual load as client numbers increase.

• Centralised client consolidation dashboards: A single workspace for managing multiple groups helps teams stay organised as entity counts and clients grow.

• Collaboration and unlimited user access: Look for role‑based access, unlimited users, and shared dashboards so your advisory team can work together efficiently at scale.

Final thoughts: Which financial consolidation software should you choose?

Each of the six tools covered in this guide offers a different approach to multi-entity consolidation, from highly flexible manual models to automated, insight-driven platforms.

As groups grow, accuracy, automation, and clarity become essential. Choosing the right financial consolidation software ultimately comes down to your business structure, reporting complexity, and the level of insight you need from your consolidated numbers.  

Learn more about financial consolidation software in this blog.

To see what’s possible, explore this consolidated financial report example or learn more about Fathom’s consolidation features.

Try Fathom's financial reporting today

Start with a 14-day trial or contact us if you need further help and our dedicated team can help you make an informed decision.

Frequently asked questions (FAQs)

1. ‍What is financial consolidation software?
   
   ‍A financial tool that automates combining multi‑entity financials while handling eliminations, currency translation, and group‑level reporting.
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2. ‍How do consolidation tools handle intercompany eliminations?
   
   ‍They automate full, partial, or transaction‑level eliminations depending on the platform, reducing manual adjustments.
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3. ‍What’s the difference between management and statutory consolidation?
   
   ‍Management tools provide fast internal consolidated reporting, while statutory consolidation requires audit‑ready adjustments like NCI and acquisition accounting.
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4. ‍Should teams still use Excel for consolidation?
   
   ‍Excel works for custom models but lacks native eliminations and is more error‑prone and time‑intensive at scale.
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5. ‍Which tools best support multi‑currency consolidation?
   
   ‍Fathom, Syft Analytics, Spotlight Reporting, Futrli, and Joiin offer built‑in FX conversion with varying levels of automation and override control.