I have a multi-member Holding LLC which is the single-member of it's subsidiary operating LLCs.
I imported the Retained Earnings for the year from the subsidiaries into the Holding LLC's Retained Earnings account and they are off by a few thousand than my consolidated Profit & Loss numbers. Is that a red-flag something is wrong or can there be a good reason for a discrepancy?
I've gone through the numbers backwards and forwards, and suspect that there's either something blindingly obvious that I'm missing or I'm chasing a problem that isn't really a problem.
I understand that the taxable numbers based on some expenses being 50% or 0% deductible will be different than the actual numbers (pardon my lack of the correct terms for those reports). In this case, I'm talking about the actual numbers of dollars in and out, regardless of its deductions.
