Question Details
Example: Dog Grooming Enterprise Main Name Under that: Dog Grooming Accessories: Clothing, Bowls, etc Dog Grooming Services: Spa Services for pets So in essence, my question references setup and the proper way to do so.

I suggest you set up one Limited Liability Company with a name that reflects the general nature of your goods and services concluded with the designation "LLC". Then establish each of the separate business lines as separate cost centers within your company accounting system and run them under the main company umbrella. A cost center is a single, pricing, accounting, and billing entity within a company, organized for a business line for technical and management purposes. A cost center financial consistency template runs from long range planning through pricing, accounting, billing and reporting for the businesses it houses. Your general ledger would contain summary accounts for the main business consisting of subsidiary ledgers for each of the cost centers. Individual cost center performance could be an offset, both positives and negative among the other cost centers when totaled at the top company level. Posted on 03/11/19
March 11, 2019
So in essence, an LLC is not needed for each of the entity examples I listed, and that they would be subsidiaries attached to the main LLC? Or have the one LLC and then within my Quickbooks program (which is the system I use), the transactions under each of the names could be set up as classes, to help delineate what goes with each business? Each business will be set up as a class and when a transaction/sale is done, it will be under that particular class thus showing all sales for that particular class in a detail report. I hope I'm not too confusing. Thank you for taking the time to answer. Posted on 03/11/19
March 11, 2019