Accounting for multiple LLCs?

[Sharad M.]

Hello all,

I wanted to see how you guys are dealing with accounting issues of owning multiple LLCs? Do you have a separate bank account for each LLC you own? Or you have a main bank account for the primary LLC and use the other LLCs as holding companies only?

I have two LLCs and I own multiple properties in each of them and I am not sure if I should maintain two separate bank accounts or I can use one bank account for all transactions and use the second LLC as a holding company only?

Thanks!