Bookkeeping for Marketing and Event Planning Companies
Automating financial processes (e.g., linking QuickBooks to your bank account)
Categorizing vendor receipts, revenue, and liabilities
Categorizing credit card transactions
Categorizing bank transactions
- Financial clean-up of income statements and balance sheets specific to marketing and event planning operations
Full-Cycle Accounting for Marketing and Event Planning Companies
- Financial statement analysis for marketing and event planning companies
- Journal entries and reconciliations
- Fixed asset management, including schedule maintenance and depreciation relevant to marketing and event planning assets
- Recording loans, prepaid assets, and more, with a focus on marketing and event planning needs
- Managing accrual and cash basis of accounting
- Accounting for insurance expenses
- Accounting for leases (including capital and operating leases)
- Managing accounting software, ensuring vendor and customer names and addresses are up to date
- Income and expense allocations
- And all other accounting needs
Payroll Management
- Payroll processing for marketing and event planning staff
- Payroll audit ensuring compliance with industry standards
- Payroll journal entries
- Foreign currency transaction journal entries as needed
- Recording commission expenses and revenues for marketing and event planning professionals
- Systems implementation and improvement
Full-Cycle Accounts Payable
- Creating and managing AP/expense bills in ERP for marketing and event planning services
- Gathering and paying vendor invoices for marketing and event planning companies
- Setting up and applying ACH payments to vendors
- Paying vendors, including via checks and ACH
- AP reconciliation specific to marketing and event planning accounting
Full-Cycle Accounts Receivable
- Creating AR bills in customer ERP
- Mailing/emailing AR invoices to clients
- AR reconciliation with a focus on marketing and event planning services
- Recording unearned revenue and applying payments to AR bills
- Tracking and presenting aging of accounts receivable reports
Customized Excel Templates for Marketing and Event Planning Operations
- Tracking billable hours to clients
Specialized Services for Marketing and Event Planning Companies
- Organizing chart of accounts specific to marketing and event planning operations
- Maintaining the chart of accounts
- Creating custom financial reports and analyzing business data for marketing and event planning companies
- Developing and tracking KPIs tailored to marketing and event planning services
- Tax services, including sales and use tax filings and payments
- Ensuring compliance with all accounting standards
- Producing time-based reports, including non-billable time, time billed/collected, and revenue by service
- Understanding and supporting the marketing, warehousing, and distribution tracking aspects of your business
- Accurately tracking expenses such as marketing campaign and event planning costs, labor costs, and promotional expenses associated with projects
- Providing claims management accounting to account for any campaign or event-related claims and managing related expenses
- Calculating the true cost of projects to customers by considering all expenses, enabling accurate pricing strategies
- Generating financial reports that provide insights into key performance indicators (KPIs) like campaign/event completion times, cost per project, and resource utilization
- Tracking clients' ROIs (Return on Investment) to ensure marketing and event planning efforts are yielding the desired financial returns
- Purchase order management
- Billing clients for installment invoices and collecting progress payments
- Accounting for revenue by the percentage of completion method
- Preparation of financial statements
- Tracking project revenue and expenses
Specific Challenges in Marketing and Event Planning Accounting:
- Complex Cost Structures: Dealing with project-based costing, variable rates, and diverse methods.
- Large Transaction Volumes: Managing a high number of individual transactions and related invoices.
- Cross-Border Transactions: Accounting for international regulations and currency fluctuations when operating in multiple countries.
- Familiarity with Marketing and Event Planning Terms: Ensuring all terminology is accurately understood and applied in financial operations.