My company is set up so that it has a Property Management LLC (PM), Property Holdings LLC (PH) and several real estate assets, each of which is held by the PH but is also its own LLC (props). It was explained to me that this structure limits liability. But it also seems to make setting up Quickbooks very awkward and complex.
How should I set up the Quickbooks for all of these linked LLC's? Currently, payroll for permanent employees comes out of PM, real estate assets are held by PH, and utilities are billed to the props. Labor is billed to the PM because it holds the insurance policies.
I'm really confused about how to do the books, very new to this and, although my background is a hybrid of technical and policy, which makes it easy for me to learn and adapt to the business world, I have little practical experience with finance.