Correct logging of serial LLC distributions to parent

Nice to see you here in Community, @Quanunrion. Let me help you with how you can book the distribution at the parent company in QuickBooks Online (QBO).

You can write a check under the sub-account that will affect the parent account. Here’s how to write a check that will affect your parent account:

1. Click on the +New button and choose Check.
2. In the payee field, choose a Payee.
3. From the Bank Account drop down-list, select the sub-account.
4. Enter the necessary information in the Category details or Item details.
5. Ensure that it is affecting your parent account in the Category details.
6. Then click Save and close.

Alternatively, you can also transfer it from sub-parent to parent account. This includes the detailed steps when you move money from one account to another, you will need to record the transaction as a transfer in QuickBooks.

I’d still recommend reaching out to your accountant and having them verify, and they can assist you with this matter.

You can check out this article for your additional reading. Create subaccounts in your chart of accounts in QuickBooks Online.

Just hit the Reply button if you have additional questions about having a receipt of the distribution in QBO. The Community team and I are always here to help. Have a good one!

I appreciate the response, Kevin!

I'm looking at three quickbooks accounts as opposed to three accounts in one chart of accounts. What would be your recommended way to book the receipt of the distribution at the parent business' level?