In amongst the general accounting services to businesses and individuals we’ve become a bit of a hit in the entertainment industry.
The entertainment industry stretches from the music world, through the theatre to television and film. The nature of services performed and the income generated are many and varied. Apart from the income generated directly related to live performances the potential exists to earn a substantial amount of income from other sources such as TV appearances (including commercials), product endorsements, royalties from record sales and merchandising.
Care must therefore be taken in accumulating information for accounting and taxation purposes to ensure that all data is accurately captured. Working with a specialist media accountant who has an understanding and experience in this industry puts you and your business at a great advantage.
The musicians, performers, producers, touring bands, camera operatives and others working in the worlds of music, theatre and film that make up half of Indigo’s client base are in perpetual motion. They move from one location or venue to another and often work in different time zones from the practice team.
Teresa says, “Clients on the road enjoy having the flexibility of being able to enter data into KashFlow and access their business records from anywhere with an internet connection. It’s a big plus.”
“With Snap I can upload receipts in real time, be it a train ticket or a large business purchase and it all magically appears in the same place where it’s offset against my sales and has the VAT itemised ready for my VAT return. No more shoe box to trawl through the day before the deadline!”
NICO SABATINI (GUITARIST FOR THE WEST END SHOW “HAMILTON”)
