Books That Hold Up in Houston
A Houston company's books have to serve several readers at once: the owner who wants to know which jobs made money, the bank that lends against receivables and equipment, the IRS, and the Comptroller, who taxes total revenue on the franchise tax report and checks sales tax on every invoice. BOMCAS keeps monthly books for Houston businesses remotely, closing each month with reconciled bank, card, loan and payroll accounts and a short report the owner can act on.
The records every Texas business needs are set out in Texas bookkeeping; this page applies them to Houston contractors, operators, practices and restaurants.
Job Costing for Plant and Field Work
Contractors serving refineries, chemical plants and drilling sites need costs captured by job: labour hours, equipment days, rentals, materials and subcontractors. Without that detail, a profitable turnaround can hide a job that lost money. We set up classes or job codes that match how your field tickets and invoices are written, so the work-in-progress schedule, retainage and billing all come from the same data.
Oil and Gas Revenue and Joint Interest Billing
Owners of working interests receive revenue statements net of severance tax and charges, and joint interest billings for their share of costs. Both need to be recorded gross so the true production revenue, taxes and lease operating expenses are visible. We separate intangible drilling costs from equipment, track depletion and reconcile each operator's statements, which also makes the franchise tax revenue figures easier to support.
Medical and Dental Practices
Practices near the Medical Center and in the suburbs receive payments from insurers, patients and government programmes, often weeks after the visit. We record deposits against the practice management reports, track equipment loans and leases, and separate provider compensation so that the franchise tax compensation deduction and federal returns use clean figures.
Restaurants and Retail
Restaurants need food and drink costs, tips, delivery app payouts and sales tax recorded separately. For bars, alcohol sales must be split out to support the mixed beverage returns. We reconcile the point-of-sale system to bank deposits each week or month and keep sales tax in a liability account rather than in revenue.
Property Tax Accruals and Renditions
Harris Central Appraisal District expects business personal property renditions by April 15, with an extension to May 15 available on written request. Bills arrive in the fall and are due by January 31. We keep a fixed asset and inventory list ready for the rendition, accrue the expected property tax each month and track freeport or other exemptions claimed.
Records That Survive a Storm
Houston businesses have learned to keep records off site. We work entirely in cloud accounting software, store receipts and statements electronically and keep backups, so a flooded office or a long power outage does not stop the month-end close or an insurance claim.
Trucking, Freight and Port Businesses
Carriers and forwarders around the port need revenue tracked by load or shipment, fuel and tolls tied to trucks, and pass-through charges such as duties and terminal fees kept out of their own revenue where the rules allow. Federal heavy vehicle use tax, IFTA fuel reports and equipment loans all draw on the same records. We set up the accounts so each truck or lane shows its own margin.
Monthly Routine
- Bank, card and loan reconciliations.
- Job, well or location reporting.
- Sales, mixed beverage and use tax accounts reviewed before filing.
- Payroll and benefits posted from payroll reports.
- Fixed assets and property tax accruals updated.
- Profit and loss, balance sheet and cash summary.
Houston Bookkeeping Questions
Can you keep books for an oilfield service company?
Yes, with job or ticket-level costing, equipment tracking and receivables by customer.
Do you record oil and gas revenue gross or net?
Gross, with severance tax and deductions shown separately, so revenue, taxes and expenses are all visible.
When are Harris County renditions due?
Business personal property renditions are due April 15, with an extension to May 15 on written request.
What happens to our books if the office floods?
Our work is cloud based, with receipts and statements stored electronically, so records are not lost with the building.
Talk to BOMCAS About Bookkeeping in Houston
Monthly books feed sales and mixed beverage returns, payroll, the business return and owners' personal returns, and give planning real figures. Records far behind start with catch-up filing, and Canadian-owned companies need cross-border review. Statewide, we also cover business tax preparation, personal tax preparation, sales and use tax, payroll, tax planning, back taxes and late filing and cross-border tax, all reachable from the Texas overview.
Tell BOMCAS about your Houston business or household and we will reply with next steps and what we need for a quote. Use the contact page or the form below, call 780-667-5250 or email info@bomcas.ca. Every Houston service is on the Houston overview. This page is general information, not advice for your situation.