Single Member LLC investing in another LLC

Your investment in another company would be considered a long term fixed asset (whose value might change as your equity there changes) your LLC will record income received on a K-1 from the second LLC which will combine with your own company prior to pass through to your personal account.

Thanks, I appreciate taking the time to provide this info. Is it necessary to create an asset account named for the investment and use that account as the expense (reason) for the payment? Any advise on what's the best way to categorize this transaction within Quickbooks (Expense Vs non-expense) Vs non-categorizing this transaction to begin with if it it not considered an expense. Could you please elaborate? Appreciate your help.

Thanks, I appreciate taking the time to provide this info. Is it necessary to create an asset account named for the investment and use that account as the expense (reason) for the payment? Any advise on what's the best way to categorize this transaction within Quickbooks (Expense Vs non-expense) Vs non-categorizing this transaction to begin with if it it not considered an expense. Could you please elaborate? Appreciate your help.