{"id":5341,"date":"2018-09-06T18:00:11","date_gmt":"2018-09-06T17:00:11","guid":{"rendered":"https:\/\/sagestaging.wpengine.com\/en-gb\/blog\/?p=5217"},"modified":"2026-01-29T10:31:44","modified_gmt":"2026-01-29T10:31:44","slug":"multiple-businesses-accounts","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-gb\/blog\/multiple-businesses-accounts\/","title":{"rendered":"How to manage accounts when dealing with multiple businesses"},"content":{"rendered":"
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\n\t\t\t\n\t\t\t\t\"Ashley\t\t\t\tAshley Thompson<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n
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Are you managing multiple businesses and need help when it comes to dealing with your finances and accounts?<\/p>\n

At one end of the scale, you may have a large business<\/a> that has acquired smaller companies to fill the gaps in your operation. Perhaps you want to set up an incubator where startups<\/a> can thrive.<\/p>\n

Or maybe you\u2019re a sole trader looking for more of a portfolio career \u2013 offering childminding during the week and wedding photography at the weekends.<\/p>\n

Whatever the nature of your different companies, there are some key factors in running the accounts for multiple businesses and clients successfully.<\/p>\n<\/div>\n<\/div>\n

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Keeping cash flow steady<\/strong><\/h2>\n

Say you run two businesses \u2013 the main one is a seaside holiday rental business that is fully booked during the spring and summer; the secondary one has you making coastal-themed craft products for gift shops over the winter.<\/p>\n

The latter gives you some protection from the seasonal nature of your main business. You can also protect yourself to some extent by asking for deposits up front when people book their holidays throughout the year.<\/p>\n

Picture the bakery owner who enjoys steady trade throughout the year and who runs cookery workshops on the side. What would happen if there was flooding in the shop and they had to rely on the income from the secondary business?<\/p>\n

Cash flow forecasts are really important, particularly if you have one main business that provides most of your income and several smaller businesses around it<\/mark>.<\/p>\n

They also help you answer those “what if” questions so you can take care to always have cash in the bank (and get motivation to chase those late payers<\/a>).<\/p>\n

Spreading the overheads<\/strong><\/h2>\n<\/div>\n<\/div>\n
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You may have four businesses but that doesn\u2019t mean you need four IT consultants, four marketing agencies and four offices. Having multiple businesses could mean your average overheads are marginally lower than for the single business owner.<\/p>\n

You can also use the same accounting software<\/a> across the different businesses, giving users individual logins for their particular company accounts. This helps with confidentiality too; you need to keep a close eye on everything but you might prefer your individual teams to stay focused on their own area.<\/p>\n

You may find, for example, that your bookkeepers weren\u2019t at full capacity on your main business and can take on a bigger workload, applying their expertise across the different organisations and helping you spot patterns where systems and processes could be improved, plus opportunities for growth.<\/p>\n<\/div>\n<\/div>\n

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Automate as many processes as possible<\/span><\/strong><\/h2>\n

Some business owners focus on getting everything right in one business and then replicating this across the sister companies. You need to be confident that your sales processes are as smooth as possible so you know there is nothing stopping the money coming in.<\/span><\/p>\n

You also want to free up time for your employees to help you develop the business. If your time is spread more thinly than before, you are going to need to give them autonomy and let them show initiative, not take up their time with manual processes.<\/p>\n

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Some of the accounting processes you could automate:<\/strong><\/h3>\n