Bookkeeping for Dallas Companies
Dallas businesses tend to have more than one entity, more than one location or more than one owner wanting reports. A real estate group may have twenty property LLCs and a management company; a professional firm may have partners in three states; a restaurant group may share staff across five concepts. BOMCAS keeps monthly books for Dallas businesses remotely, with each entity reconciled and the group reported together when the owners need it.
The basics for Texas businesses are on our Texas bookkeeping page, and this page applies them to Dallas groups with several entities.
Multi-Entity Real Estate
Property owners need each building's rent roll, operating expenses, loan payments, reserves and capital improvements recorded in its own entity, with management fees and shared costs charged consistently. Security deposits are liabilities, not income, and tenant improvements and leasing commissions are capitalised. We reconcile each property's bank and escrow accounts and prepare owner and lender reports.
Management Companies and Funds
Investment managers need management fee revenue, expense reimbursements from funds and partner distributions kept clear. Expenses paid for a fund should be billed to it promptly. We keep the management company's books and prepare the schedules a fund administrator or auditor will ask for.
Professional Firms
Law and consulting firms bill by the hour or the project, carry work in progress and receivables, and may hold client money in trust. Trust accounts must be reconciled monthly and never mixed with operating funds. We track revenue by partner or practice group, monitor collections and post partner draws and guaranteed payments separately from expenses.
Showrooms and Wholesale
Showroom tenants and sales agencies at the Market Center need commissions tracked by line and manufacturer, inventory held on consignment kept off the balance sheet, and resale certificates filed with each customer record. We reconcile commission statements to bank deposits each month.
Restaurant Groups
Each restaurant concept should have its own sales, food and drink cost, labour and occupancy figures, with shared kitchen or management staff allocated fairly. Sales and mixed beverage tax collected are liabilities, and tips paid out through payroll must match the point-of-sale reports.
Offices That Relocate
Companies moving to Dallas face a burst of one-time transactions: moving costs, lease incentives, new furniture and equipment, deposits and duplicate rent during the transition. Lease incentives and tenant improvement allowances need careful treatment under lease accounting rules. We set up the Texas books cleanly from the start and keep the transition costs where they can be found at year end.
Property Tax Renditions
Each county's appraisal district expects business personal property renditions by April 15, with an extension on request. Companies with offices in several parts of the city may render to more than one district. We keep the asset list by location so renditions are fast and accurate.
Technology and Subscription Companies
Software and data companies in Dallas bill annually or monthly in advance, so cash collected is not yet revenue. We record deferred revenue and recognise it as the service is delivered, track sales tax on taxable subscriptions and capitalise development costs where the rules require. Investors and lenders expect monthly recurring revenue and churn figures that tie back to the ledger.
Monthly Close
- Bank, card, loan and trust reconciliations.
- Entity, property, concept or practice reporting.
- Intercompany balances and management fees.
- Sales, use and mixed beverage tax accounts.
- Fixed assets by location.
- Consolidated summary for owners.
Dallas Bookkeeping Questions
Can you keep books for many property LLCs?
Yes, each in its own file or class, with intercompany charges and consolidated reports for the owners.
Do you reconcile law firm trust accounts?
Yes, monthly, keeping client funds separate from operating accounts.
How do you handle a relocation?
We set up the Texas books from the move date and track one-time costs, lease incentives and new assets separately.
Where do renditions go if we have offices in different counties?
To each county's appraisal district, by April 15 unless extended.
Talk to BOMCAS About Bookkeeping in Dallas
Monthly books support sales tax returns, payroll, business returns and owners' personal returns, and give planning reliable numbers. Records far behind begin with catch-up filing, and Canadian-owned groups need cross-border review. Elsewhere in Texas, our statewide pages explain business returns, individual returns, sales and use tax, payroll, tax planning, catching up on back taxes and Canada–U.S. tax, and the Texas page ties them together.
Write to BOMCAS about your Dallas company or household and we will answer with next steps and what we need to prepare a quote. Use the contact page or the form below, call 780-667-5250 or email info@bomcas.ca. You can find every Dallas service on the Dallas overview. This is general information, not advice for your own situation.