Free intercompany reconciliation template for QuickBooks Online
Last updated: Oct 8, 2026
A free Excel template to tie out the due to / due from balances between a client’s related QuickBooks Online companies and find each difference.
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This free Excel workbook ties out the due to / due from balances between a client’s related companies, each in its own QuickBooks Online file. Enter each pair’s two balances at month end: it shows which pairs don’t agree and by how much, and gives you a sheet to work out the entries behind each difference.
It follows the manual method in these guides: the same month-end date, the same accounting basis, one row per pair. A filled-in example uses the fictional Admin Co and Property Co from the sample close.
Download the template
Download the template (.xlsx)Free, with no signup. An Excel workbook with five sheets.
What’s inside
- How to use: the steps, in order.
- Tie-out: one row per pair, with each company’s balance, the difference between them and whether the pair ties.
- Find the difference: for one pair, list the entries that appear on one side only and see how much is still unexplained.
- Common causes: the usual reasons the two sides drift apart, as a checklist.
- Example: the fictional Admin Co and Property Co pair, filled in.
| Company that is owed | Due from balance | Company that owes | Due to balance | Difference | Status |
|---|---|---|---|---|---|
| Admin Co | $50,000.00 | Property Co | $48,000.00 | $2,000.00 | Doesn’t tie |
How to use it
- Run the Balance Sheet for each company at the same month-end date and on the same accounting basis.
- On the Tie-out sheet, enter one row per pair: the company that is owed and its due from balance, then the company that owes and its due to balance. If a pair uses more than one account, add the balances together.
- For each pair that doesn’t tie, open the two accounts for the months since they last agreed and match the transactions by amount and date.
- List each entry with no partner on the Find the difference sheet. When the amount left to explain reaches zero, the list accounts for the whole difference.
- Correct the side that’s wrong with an entry that records what actually happened, not a plug to a suspense account.
The template is a starting point for one month’s tie-out, not a record of the books: the balances come from QuickBooks Online, and any correction is made there.
Where Flatbooks fits
Flatbooks reads a client’s related QuickBooks Online companies for the month you choose and puts each due to / due from pair side by side, with the difference between the two sides. To help find the entries behind a difference, it can lay the two companies’ ledgers for the period next to each other.
When you’ve found the cause, it prepares one correcting journal entry for the company you choose. The intercompany side is calculated; the other account is yours to pick, with a note of the cause and source. Nothing posts to QuickBooks until you approve it, Flatbooks reads QuickBooks again afterwards to check the result, and a posted correction can be reversed.
Once the pairs agree, it exports the consolidated workbook: the group statements, the eliminations, and a verification sheet tying every company back to its own QuickBooks report. The client’s companies stay in QuickBooks Online. It handles due to / due from balances and management fees between sibling companies; when one company owns another, or other group adjustments are needed, it says so and pauses the export.
The sample is fictional and needs no account. Your first client’s diagnostic is free. No card needed.