The two companies utilized vastly different Charts of Accounts (COA), making a direct import impossible without standardization.

There were frequent transfers of funds between the two entities that had been recorded inconsistently, risking double-counting of revenue or expenses.

The client needed to retain full historical data for the subsidiary for the current fiscal year while ensuring the opening balances matched the previous tax returns.

• Exported the COA from both entities into Excel.

• Created a mapping schema to align the subsidiary's accounts with the parent company's structure (e.g., mapping "Office Exp" in Company A to "G&A Expense" in Company B).

• Utilized CSV import tools to migrate vendor lists, customer lists, and transaction history into the primary QBO file.

• Carefully validated the "Opening Balance Equity" to ensure the subsidiary's trial balance matched the final trial balance from the old system exactly.

• Utilized CSV import tools to migrate vendor lists, customer lists, and transaction history into the primary QBO file.

• Carefully validated the "Opening Balance Equity" to ensure the subsidiary's trial balance matched the final trial balance from the old system exactly.

• Audited all transfers between the two entities.

• Eliminated "Inter-company Income" against "Inter-company Expense" to ensure the consolidated P&L reflected true external revenue only.

• Ran a "Balance Sheet by Class" report to allow the client to see the financial health of the merged division separately from the main company.

The client eliminated the cost of a second QBO subscription and reduced monthly bookkeeping review time by 40%

The business owner can now view a single "Total Profitability" report instantly, rather than manually combining reports from two different logins.

The consolidated books balanced to the penny against the original separate records