If you just opened your doors in Fort Worth and your desk already has coffee, a stack of receipts, and a brand new LLC folder, you are in the right place. Bookkeeping 101 is not a finance class; it is a simple plan for keeping your financial story straight, so you can focus on running the business you started.
You might be wondering what to do first, what to track, and what can wait. Take a breath. This guide keeps it simple, no jargon and no fluff. By the end, you will know which accounts to set up, which accounting method fits, what to do each week and month, and how much to set aside for taxes.
Let’s walk through step by step with this bookkeeping 101 in Fort Worth for businesses, so you’ll know exactly what to do next.
Think of bookkeeping as your financial “check engine light.” If you ignore it, small problems turn into big repairs. With clean books, you can spot which jobs or clients are profitable, know when cash is running tight, and prepare for taxes without panic.
A Fort Worth plumber might discover one service line, say HVAC installs, is eating more costs than it brings in. A real estate agent might realize commissions aren’t covering marketing spend. You only catch that if your books are organized.
Step one: stop using your personal debit card for business runs to Home Depot. Open a business bank account and credit card, then run everything through those.
Here’s why:
Before you get too deep into bookkeeping, you’ll need to choose an accounting method. Think of it as the rulebook for when you write things down in your books.
Cash basis: You record income when money actually hits your account, and you record expenses when you pay them.
Accrual basis: You record income when you earn it (even if the customer hasn’t paid yet) and expenses when you owe them (even if you haven’t paid the bill).
Here’s an easy way to think about it: cash basis is “money in, money out,” while accrual is “work done, money owed.”
Let’s ground it in some real examples.
The IRS makes it easy: as long as your business brings in under $25 million in revenue, you’re allowed to use cash basis. It’s easier to manage and less intimidating if you’re just starting out. Many Fort Worth contractors, real estate agents, and small service businesses stick with it until their operations get more complex.
Talk with your accountant before filing your first tax return. Once you choose a method, switching later requires IRS approval and extra paperwork.
Bookkeeping isn’t a “once in a while” chore. It works when it’s a habit. Put 30 minutes on your calendar every Friday to review transactions and receipts.
Here’s a starter routine:
If you’re still keeping receipts in a shoebox, it’s time to graduate. QuickBooks Online, Xero, or Wave can connect to your bank, categorize expenses automatically, and let you send invoices in minutes.
Bonus: Most apps have mobile receipt capture. Snap a photo when you fuel up your truck, and it goes straight into your books.
A lot of small businesses lose money by miscategorizing expenses or not tracking them at all.
For Fort Worth trades and agents, watch these categories:
Pro tip: Keep digital copies of receipts. The IRS accepts scanned images, so no more faded paper slips stuffed in your glove box.
Reconciliation means making sure your books match your bank and credit card statements. If your books say you have $5,000 but your bank says $4,200, you’ve got a problem.
Log in at the end of each month and check that every transaction matches. If you find something odd, fix it before it snowballs.
Bookkeeping isn’t just for taxes.
The real power is in the reports:
After reconciling each month, glance at your P&L. Did you earn more than you spent? If not, figure out why.
Texas keeps it simpler than most states; there’s no personal income tax. However, businesses still deal with franchise tax if revenue is above the state threshold (about $2.47 million in 2025). Even if you’re under it, you’ll still file.
Don’t forget federal taxes. If you make a profit, you’ll need to set aside money for estimated quarterly payments.
Every month, set aside 20–30% of net income into a separate savings account labeled “Taxes”. You’ll thank yourself in April.
At some point, bookkeeping may eat more of your week than running your actual business. That’s the time to call in a pro. Outsourcing doesn’t mean losing control; it means you get time back to focus on clients and growth while still knowing your numbers are right.
If bookkeeping takes more than a few hours a week or stresses you out, call an accountant to lighten the load.
If your business only has a handful of transactions each month, you can handle bookkeeping yourself with software. As your workload grows, hiring an accounting firm saves time and helps you avoid mistakes.
Small businesses should reconcile their bank and credit card accounts at least once a month. This ensures accurate records, catches errors early, and avoids headaches at tax time.
QuickBooks Online is the most widely used bookkeeping software for small businesses. Xero and Wave are also good options, depending on your budget and whether you need payroll features.
Without bookkeeping, you risk missing deductions, overpaying taxes, and facing penalties for late or incorrect filings. You also won’t have a clear picture of whether your business is actually profitable.
When you first started a business, bookkeeping may not be the part you dreamed about, but it’s the part that keeps the lights on and the stress down.
The good news is you don’t have to master every accounting term or figure it out alone. With a simple system and the right guidance, your books can stop being a source of anxiety and start being a tool that helps you grow.
If you’re in Fort Worth and want your bookkeeping off your plate, that’s exactly what we do. At Adam Traywick Accounting, we help local business owners with bookkeeping, accounting, payroll, and proactive tax planning, all tailored to the way you actually run your business.
Ready to trade bookkeeping stress for peace of mind?
Book a call with us today, and let’s get your numbers working for you, not against you.
