Books for Service Businesses
Most Plano businesses sell time and expertise rather than products. Their books need to track billable hours, subcontractors, receivables from large customers and payroll in several states. BOMCAS keeps monthly books for Plano businesses remotely, reconciling every account and producing reports owners can use.
Our standard monthly routine is on the Texas bookkeeping page. This page covers timesheets, subcontractors and franchise units in Plano.
Timesheets and Billing
Consultancies and staffing firms bill clients from approved timesheets, often through customer vendor portals. Unbilled time, rejected invoices and short payments need to be tracked so revenue and receivables are accurate. We reconcile billings to timesheets each month and age receivables by client.
Subcontractors and Corp-to-Corp Vendors
Plano IT firms often subcontract to other firms or independent consultants. Each vendor needs a W-9, and payments to unincorporated vendors over the threshold require Form 1099-NEC; the threshold rises from $600 to $2,000 for payments made in 2026 and later. We keep vendor files current and record payments by project.
Long Payment Terms
Large customers in Plano commonly pay 60, 90 or even 120 days after invoice. A growing firm can be profitable but short of cash. We provide cash forecasts and, where firms use factoring or a line of credit, record fees and interest properly.
Multi-Unit Franchises
Franchise owners with several units need separate books for each entity or location, royalty and advertising fees calculated from reported sales, and consolidated reports showing the overall picture. Franchisors often require monthly reports in a set format, which we prepare from the books.
Medical and Dental Practices
Practices need patient payments, insurance remittances and adjustments reconciled to the practice management system, with provider production and collections reported monthly. Equipment loans and leases are recorded correctly so depreciation and interest are accurate.
Subscription Revenue
Software and data companies that bill annual subscriptions in advance record the payment as deferred revenue and recognise it month by month. This keeps monthly profit accurate and supports the right tax treatment, since advance payments can usually be deferred only to the following year for tax. We maintain a deferred revenue schedule by customer.
Travel and Expense Reports
Consultants travelling to client sites incur airfare, hotels and meals that are often rebilled to clients. Expense reports need receipts and client codes so costs are reimbursed and rebilled correctly. Meals are generally 50 percent deductible, and rebilled expenses must be recorded as revenue or offset consistently.
Research and Development Records
Plano software and engineering firms claiming the research credit need records of the people, projects and supplies involved. Time tracking by project and notes describing the technical uncertainties addressed support the claim if it is reviewed.
Owners' Equity Compensation
Founders and employees with equity in startups need records of stock issued, options granted and any 83(b) elections. Accurate cap tables help with future funding and sales, and can support the qualified small business stock exclusion.
Property Renditions
Businesses render personal property with the Collin Central Appraisal District, or the Denton Central Appraisal District for locations in west Plano, by April 15. A current fixed asset register makes this simple.
Each Month
- Reconcile bank, card and loan accounts.
- Match timesheets to billings.
- Record subcontractor payments.
- Prepare entity and consolidated reports.
- Track receivables and cash.
Plano Bookkeeping Questions
How do you handle vendor portal invoices?
We reconcile submitted, approved and paid invoices to the books and follow up on rejected or short payments.
When do subcontractors need a 1099?
When unincorporated vendors are paid $600 or more, rising to $2,000 for payments from 2026.
Can you keep books for several franchise units?
Yes, with separate books per entity and consolidated reports.
Which appraisal district do Plano businesses use?
Collin Central Appraisal District for most of Plano, Denton for the western portion.
Talk to BOMCAS About Bookkeeping in Plano
Clean books support sales tax, payroll, business returns and owners' personal returns, and give planning reliable numbers. Missing years go to back taxes, foreign affiliates to cross-border tax. General Texas rules on business filings, personal filings, sales and use tax, payroll, planning ahead, catch-up filing and international tax are on our state pages, all summarised in the Texas overview.
Let BOMCAS know about your Plano company or household and we will explain what we would review first and which records would help us quote. Use the contact page or the form below, call 780-667-5250 or email info@bomcas.ca. Every Plano service is listed on the Plano overview. This page is general information, not advice for your own case.