QuickBooks is one of the most popular accounting tools that has fueled advancements in small business accounting. QuickBooks provides high-quality software that can help keep data organized for seamless and nearly stress-free accounting operations. For Videographers, QuickBooks can be used to help in several ways. One essential benefit is that QuickBooks offers customizable reporting to help record work produced with video production software.
More QuickBooks Features
QuickBooks allows you to customize templates for film and video production. By setting up a chart of accounts, you can integrate several different bank accounts to correspond with budget line numbers. This QuickBooks feature may help you or your CPA to coordinate and track new projects as they are developed.
QuickBooks also offers job costing features. The QuickBooks Job Costing Module may make videography tax planning processes easier by streamlining the processes of issue estimates, purchase orders, and use of the standard expense accounts. You can also run production costs through QuickBooks job costing, which offers the functionality to set up items according to budget. What's more, chart of accounts and inventory item management can run more efficiently within a QuickBooks implementation because multiple budgets can be tracked per company file. Here at Fusion CPA, our small business accountants recommend utilizing QuickBooks for entering purchase orders before and after production, especially when there is a lot of data to be registered. When each payment is set up on a separate line of the purchase order, QuickBooks may help you or your accountant calculate the amounts of paid invoices versus the outstanding payments.
If you need assistance with vendor, crew, and location invoices, QuickBooks may be a great asset for you. Management of these invoices can be a vital part of any production, and with QuickBooks, they can be managed in real-time. You should be able to print and post checks simultaneously.
Financial Management for Videographers
The QuickBooks platform provides useful tools for our videography CPAs to offer accounting services suitable for the video production industry. We are happy to partner with your to customize an efficient accounting/bookkeeping plan for your video production business. Part of our CFO business advisory service for videographers includes assisting with setting up your project budget, purchasing orders, vendor/contractor negotiation, and more.
QuickBooks may help us to track your credit card payments to vendors, and record your petty cash as journal entries. Simple transactions may be entered directly in the register, or journal entries may be opened for expense distribution against multiple lines. Further, your vendor names may be inserted in the columns for efficient tracking, if you choose. At Fusion CPA we also offer tax planning services for videographers. Once we have submitted your data into QuickBooks, we should be able to get a clear picture of your business operations and performance. These reports may help us create a tax planning strategy that may help you maximize deductions and minimize liabilities. Our team of small business accountants here at Fusion CPA are motivated by providing business owners like you with top-tier accounting, bookkeeping, and tax planning services. We aim to help you free up more hours to focus more on your business, not on the accuracy of your books. With cutting-edge software that allows easier administration of our services, we hope to be partners who you can trust to streamline your financial operations across the board. You can learn more about our services by clicking the button below to schedule a complimentary discovery call today!
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