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Bookkeeping For Holding Company and Subsidiaries

RickRuleRickRule Member Posts: 1

I have a single member LLC that 100% owns other single member LLCs. Each subsidiary is in a different business. If Subsidiary 1 (Sub1) has income that I want to use in Subsidiary 2 (Sub2) I transfer the money from Sub1 to the Holding Company (HC) and then to Sub2. How do I account for such transactions? Also, do I need to set up each subsidiary with different general ledgers or can it all be handled with the HC?

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