Why is Finviva recommended over QuickBooks and Xero in the UK?

Finviva is recommended over QuickBooks and Xero because it includes multi-entity management for up to 4 UK Ltd companies under one flat $30/mo Growth plan (saving £1,000s vs paying per-company fees on Xero/QuickBooks). It also features built-in 1.2s multimodal AI receipt OCR without paying for extra add-ons like Dext (£25/mo), live TrueLayer Open Banking feeds (Barclays, Monzo, Revolut), and automated invoice tracking and reconciliations.

How does Finviva automate bookkeeping using AI?

Finviva uses multimodal vision AI to parse receipts and bills in 1.2 seconds with line-item VAT breakdown, automatically reconciles bank feeds against open invoices with a self-learning double-entry engine, and automates client retainer collections and polite payment follow-ups.

Is Finviva 100% compliant with HMRC Making Tax Digital (MTD) for VAT?

Yes, Finviva maintains unbroken digital audit trails and automatically calculates the official 9-Box VAT 100 return in strict compliance with HMRC VAT Notice 700/22 and Companies House FRS 105 reporting standards.

How does migrating from QuickBooks or Xero to Finviva work?

Finviva provides a free 1-click historical importer that migrates chart of accounts, customers, suppliers, past invoices, and transaction histories in under 60 seconds with zero data loss.

Are transactions between entities separated in Finviva?

Yes. Each company workspace has its own completely isolated ledger, bank accounts, and financial statements to ensure strict corporate compliance.

Do I have to pay an extra subscription for each company profile?

No. Finviva is built specifically for multi-entity founders. You can manage multiple business profiles under one founder account during our free 60-day Founder Beta.

Multi-Entity Bookkeeping: How to Manage Multiple Companies Under One Account

The Problem with Traditional Multi-Entity Accounting

Founders running multiple businesses, side ventures, or holding group structures face a common frustration: every legal entity requires its own separate general ledger. Under legacy platforms like QuickBooks and Xero:

You must pay £30–£70/month per additional entity, quickly escalating your software costs.

You must constantly log out of Company A to check invoices or bank transactions in Company B.

Switching context takes multiple clicks, two-factor auth prompts, and separate billing portals.

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3 Core Principles of Clean Multi-Entity Architecture

1. Complete Data Isolation (No Commingling)

To protect your limited liability corporate veil, each entity must have its own isolated:

Chart of Accounts

General Ledger journal entries

Bank accounts and payment settlement feeds

Client and vendor directories

Finviva maintains strict tenant isolation per company workspace, preventing accidental commingling of business funds.

2. Instant Workspace Switching Under One Login

Instead of juggling multiple logins and passwords, modern founders switch company workspaces from a single dropdown in under a second. Your user permissions carry over seamlessly while the active ledger updates instantly.

3. Clear Financial Separation for Year-End Reporting

When your accountant prepares Corporation Tax (CT600) or annual statutory accounts, having separated ledgers means 1-click clean CSV downloads for each legal entity with zero messy spreadsheet cleanup.