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.

Does Finviva combine the tax reports of my entities?

Finviva keeps the database tables and general ledgers for each Ltd company completely isolated. You get standalone, statutory-ready accounts for each entity and an optional consolidated overview for yourself.

Can I add different bank accounts for each Ltd company?

Yes. Each entity workspace connects to its own dedicated bank accounts, Stripe accounts, and merchant feeds with strict permission boundaries.

Multi-Entity Bookkeeping: How to Manage Multiple Ltd Companies Under One Unified Ledger

The Problem with Traditional Multi-Entity Accounting

Agency founders running side ventures and holding group operators face a common bottleneck: every legal entity requires its own general ledger. Under traditional tools like Xero and QuickBooks:

You must pay £30–£70/mo per extra entity.

You must log out of Company A to check invoices in Company B.

There is no unified dashboard showing total cash across all holding accounts.

Inter-company transactions (e.g. Agency Ltd loaning money to Media Ltd) must be manually keyed twice.

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4 Rules for Clean Multi-Entity Accounting

1. Enforce Strict Tenant Isolation

Never mix bank accounts or co-mingle expenses between legal entities. Mixing funds pierces the corporate veil and causes major accounting complications.

2. Automate Inter-Company Journal Entries

When Entity A pays for a shared software license used by Entity B, record an automated Due To / Due From journal entry so inter-company debts are balanced at year-end.

3. Maintain Unified Real-Time Cash Visibility

Use a unified multi-entity dock that aggregates live bank balances from Barclays, NatWest, Monzo, and Revolut into a single high-level view while keeping tax ledgers completely separate.

4. Consolidated vs. Separate Tax Reporting

Ensure your accounting system can generate standalone statutory accounts for each Ltd while providing consolidated P&L summaries for executive decision-making.