Books for Panhandle Businesses
Amarillo businesses range from feedyards and ranches to carriers, truck stops, contractors and clinics. Each needs books kept current so owners and lenders can rely on them. BOMCAS keeps books for Amarillo businesses remotely, closed monthly with reconciliations and reports.
The way we close the books each month is described on the Texas bookkeeping page; here it is applied to Panhandle businesses.
Cattle Records
Cattle operations track head counts, weights, purchases, deaths and sales by lot or pen, along with feed, veterinary and yardage costs. Lenders financing cattle want reports showing cattle on hand, cost and market value. We reconcile head counts to the books each month and record each sale against its lot.
Farm Accounts
Farms record crop sales, government payments, crop insurance, input costs and equipment. Separating farm and personal spending, and recording land and equipment loans accurately, supports both the Schedule F and lender reporting.
Trucking
Carriers and cattle haulers track revenue by load, fuel by truck and state, tolls, maintenance and driver pay. Fuel tax reports need miles and gallons by jurisdiction. We match settlements from brokers and shippers to each load.
Truck Stops
Truck stops reconcile fuel sales, store sales, restaurant sales and services each day, with card and fleet card payments settling on different schedules. Fuel inventory is reconciled to tank readings, and shrinkage is tracked.
Contractors
Contractors working at the plants, on oil and gas sites or on wind farms track job costs, equipment hours and retainage. Change orders and progress billings are recorded by job so profitability is clear.
Clinics and Practices
Medical practices reconcile insurance payments, patient payments and adjustments to the practice management system, and track receivables by payer. Owners' draws and production are recorded separately.
Dairies
Monthly milk checks show gross milk value with deductions for hauling, promotion, cooperative fees and advances. We record the gross amount and each deduction, track cows bought, raised and culled, and reconcile feed contracts and commodity accounts.
Custom Harvesters
Crews that cut wheat from Texas north to the Dakotas each summer bill by the acre and bushel, run several combines and trucks and pay crews across several states. We track revenue and costs by job and by state, equipment hours for depreciation and repairs, and advances to crew members.
Hotels on Interstate 40
Hotels reconcile the night audit, card settlements and the three hotel taxes collected on each stay: state, city and venue district. Group and extended stays over 30 days are tracked so exempt nights are documented.
Reports for Lenders
Farm credit lenders and banks ask for balance sheets with market values of cattle, grain and equipment, along with cost-based books. We produce both from the same records each year-end.
Commodity Hedging Accounts
Feeders and grain producers who hedge with futures keep brokerage accounts with margin calls and realised gains and losses. Hedges tied to the operation's own cattle or grain are ordinary business income or loss, and we record them against the related inventory rather than as investments.
Business Personal Property
Businesses render equipment and inventory to the Potter-Randall Appraisal District by April 15. Livestock and farm equipment used for agriculture are handled under different rules, and the books should show what is used where.
Monthly Package
- Bank and loan reconciliations.
- Livestock or job reports.
- Fuel and inventory reconciliations.
- Sales and hotel tax figures.
- Payroll entries.
- Financial statements.
Amarillo Bookkeeping Questions
Can you produce cattle reports for my lender?
Yes, with head counts, cost and values by lot.
Do you reconcile fuel inventory?
Yes, to tank readings and sales records.
Can you keep farm and personal spending apart?
Yes, with separate accounts and clear coding.
Which software do you use?
Usually QuickBooks Online, or the system you already use.
Talk to BOMCAS About Bookkeeping in Amarillo
Books feed sales and hotel tax, payroll, the business return and owners' personal returns, and support planning. Missing years are rebuilt through late filing, and foreign owners covered under cross-border tax. Our statewide Texas pages cover business tax, personal tax, sales tax, payroll, planning, back taxes and cross-border tax in more depth, with the Texas overview as the starting point.
Whether you run cattle north of town, a fleet on Interstate 40 or a clinic in the medical district, tell BOMCAS a little about it and we will reply with what to review first and what a quote requires. Use our contact page or the form below, call 780-667-5250 or email info@bomcas.ca. Our Amarillo services are all linked from the Amarillo overview. Please treat this page as general information, not advice on your own circumstances.