CFO & Accounting · Multi-Entity
Multi-Entity & Intercompany Accounting
Consolidated and entity-level reporting for real estate holding structures, OpCo/PropCo setups, and multi-LLC owners — built so the numbers actually reconcile.
Owners with multiple related LLCs — a holding company and operating entities, an OpCo/PropCo split, or a portfolio of individual property LLCs — run into a specific accounting problem: transactions between the entities themselves. Intercompany loans, management fees, shared costs, and related-party leases all have to be recorded correctly on both sides of the transaction, or the combined picture stops reconciling.
Get this wrong and an owner ends up with financials that look fine entity by entity but don't add up at the consolidated level — or worse, double-count revenue and expense that should have been eliminated. Protea builds both views correctly: consolidated reporting for the owner who needs the whole picture, and clean entity-level statements for whichever single entity a lender or partner is actually evaluating.
The structure itself usually exists for good reasons — liability separation between a property and the business operating inside it, a lender's requirement that a specific asset sit in its own single-purpose entity, or simply growth, where each new property or venture got its own LLC as it was acquired. None of that is a problem. The problem is when the accounting never catches up to the legal structure, and five years in, nobody can say with confidence what the related-party loan balances actually are.
What's Included
What multi-entity accounting covers
Intercompany Receivables & Payables
Loans, advances, and shared-cost allocations between related entities tracked as what they are, not lost in a single combined ledger.
Eliminations
Intercompany transactions eliminated correctly at the consolidated level, so revenue and expense aren't double-counted.
Consolidated Reporting
A single, accurate picture across every entity — for the owner who needs to see the whole structure, not five disconnected P&Ls.
Entity-Level Reporting
Each entity's own clean financials, because a lender or partner evaluating one property or one business doesn't want the whole structure's numbers.
Related-Party Leases & Loans
Leases and loans between related entities documented and tracked on real terms — not an afterthought that creates a problem at tax time.
Management Fee Tracking
Management fees between entities calculated consistently and recorded on both sides, so neither entity's numbers are distorted.
Who this is for
Real estate owners and operators with a portfolio of property-holding LLCs, businesses structured as an OpCo/PropCo split, and any owner running multiple related entities who has never gotten a single, accurate consolidated view of how the whole structure performs.
It's also the right call for an owner who has been managing the intercompany side informally — tracking who owes whom in a spreadsheet, or worse, not tracking it at all and just hoping the numbers roughly wash out. They rarely do, and the gap tends to surface at the worst possible time: during a refinance, a partner buyout, or a tax return that needs an accurate basis calculation nobody has maintained.
This sits alongside outsourced controller work as the monthly foundation, with lender-ready reporting built on top for owners refinancing or acquiring additional properties.
How this connects to tax
Multi-entity structures almost always mean multiple partnership tax returns that have to be coordinated, not filed in isolation — related-party loans and leases need to be documented consistently on both the books and the return. For owners above the federal SALT deduction cap, the same entity structure also opens the door to PTE election and SALT cap modeling across the structure.
Multi-Entity Accounting Questions
Frequently Asked Questions
What owners of multiple related entities ask most.
Get a fixed-fee multi-entity accounting quote
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