QuickBooks For Multiple LLCs (Real Estate In Various States?)

Learn the best way to set up Quickbooks when using a WY holding LLC along with several other LLCs holding real estate in various other states. *~ Claim Your FREE 45 min Strategy Session NOW!
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[@mrlewin2590]

Which Quickbooks will allow me to set my business up where I can label my sub LLCs in classes and have separate bank accounts?

[@fishingsouls4christceoofgi614]

In this case the topic of conversation is QB desktop and Not QB online, correct?

[@steveyulo3506]

what is the entry if a series LLC invests in another LLC who invests/rent apartments

[@annlynkroll7038]

What if they are businesses in the same state but each business has a different Tax id? They have it set up now as 15 different companies which is insane to handle.

[@rameshmokkala7011]

If I have Wyoming LLC setup as partnership with two members. This owns a Texas series LLC. Now, I need separate tracking, for Wyoming LLC, Texas series llC (Master) and each cell of Texas series LLC. 3 levels here. So, could I setup Wyoming LLC company file and Texas Series LLC (master) as class and Texas Series LLC cells as sub classess? Does it let me track all 3 levels? Also, I have one bank accounts for Wyoming LLC and one bank account for entire series LLC. Would the setup I proposed handle handle the my two bank accounts explained earlier? Please let me know

[@NicholsHomeTeam]

So I'm seeing contradictory information coming out between this video and the other one put out by your company called "LLCs For Investment Property (Accountants Worst NIGHTMARE!) Prt 1 of 3" dated 11/09/219. In that video, it says you should have a separate set of books and not set them up under one file. Any guidance?

[@JohnPaul-oq6ud]

How would you recommend a family office do this? I have Family A that owns Trust 1 which owns Business i. Except there are 2 families each with multiple trusts and those trusts own multiple LLCs. I'm thinking a fake company owns family 1 and family 2 as locations. Within those locations, the trusts are set up as classes, then the LLCs are sub account (tags) for their transactions? Or Family 1 has its own login. Its locations are its trusts and its classes are its llcs

[@TobyMathis]

Good question, I highly recommend you set up a free 45 min Strategy Session so we can provide an answer that's unique for your situation. Visit: aba.link/ss60

[@neilstafford4479]

Do you have to have separate bank accounts for each LLC or one for WY LLC and utilize classes to separate the other LLC's ?

[@tashiilaccountingacademy4553]

Neil Stafford; it depends on your choice. If you prefer having separate bank account for each class, you can do so..Other wise you can have all-in-one bank account.. Thanks

[@neilstafford4479]

@@tashiilaccountingacademy4553 Thank you for getting back to me !

[@rameshmokkala7011]

I have one bank account for Wyoming LLC and other bank account for Texas series LLC