BUSINESS MANAGEMENT SERVICES
A crucial part of your business is keeping proper books. We provide expertise with clients in the entertainment industry to help them keep proper books. Our service will include reporting to you on a monthly or quarterly basis the following:
Reconciliation of bank, credit and other balance sheet accounts – this allows you to, among other things, identify lost checks, lost deposits, unauthorized wires, detect and prevent embezzlement and manage cash effectively.
Generate an income statement and a balance sheet – these financial statements will assist in tracking and monitoring revenue and expenses, examine expenses by category, determine tax liability, determine your net worth, examine your accounts receivable and payables and your overall liabilities.
General ledger clean up – as all transactions processed through your books flow through your general ledger. We will periodically review and “clean” them, at times with your assistance, to ensure we maintain accurate books.
As many of our clients have many different sources of income that come from many different payees and from work performed in many states or abroad, revenue tracking is a crucial part of not only confirming that you were paid, but ensuring that any taxes withheld are properly claimed and returns are properly filed. This service requires us to receive all payments, including cash from touring, to code properly and track. We would also make all deposits on behalf of our clients and reconcile them on a monthly basis.
As many of our clients are focused on their craft and passion, many times leading them to extensive travel, we offer bill payment services. This involves all bills and paperwork to be forwarded to our offices from which we pay for our clients every week, and review all non-recurring items with you before payment. It further includes reconciling and paying any of your team that is on a percentage basis, such as your manager, agent, attorney, etc.
Cash Flow Management
Expense budgeting for our client’s businesses and household helps with cash flow management. We can prepare budgets and issue reports with a comparison to actual spending in order to control costs. Cash flow reports are crucial to tracking your cash receipts and disbursements in any given month and for tax projections. We will prepare these reports periodically as needed or requested.
We have relationships with leading banks which provide specialized services to our clients in the entertainment industry. We can leverage these relationships to help you obtain loans, credit cards, home mortgage financing and refinancing. We represent you by preparing the proper documentation for your loans, including Executive Summaries, Pro-forma Cash Budgets and Financial Statements, Personal Financial Statements and copies of your Tax Returns.
We can provide payroll services that include not only paying your employees, but filing all the necessary tax filings with both federal and state authorities and issuing all necessary documents to your employees and contractors.
We can provide you with competitive quotes for the various types of insurance from our network of brokers who provide our clients with the highest-quality services and competitive prices: