Photography accounting woes…why does the word “accounting” cause such great fear?!?
Have you just started a photography business? About to start a photography business? Maybe you have been in business a few years, and your business has grown to the point where you need to beef up your business accounting systems? Well then, this podcast episode is for you…
If you are like most photographers, you want to spend more time capturing images and less time doing the behind the scenes stuff like the bookkeeping and keeping track of your numbers. But when it comes down to it, you really need to know how much money is coming in versus how much money is going out. Not only do you need to know these numbers, you need to try and understand them and fine tune things, such as possibly cutting down on expenses, so that you can run a successful, profitable business.
Do I sound preachy? Probably, but it’s because I REALLY want your photography business to be successful! I know you are doing something you are passionate about! There is nothing more rewarding than finding joy in what you do for a living. Given the choice between subjecting yourself to the daily grind of corporate America or capturing memories that will last a lifetime…I think most people would choose to capture memories. We all search for meaning in what we do, and photographers have such a special role in people’s lives. Know your numbers, don’t let “not knowing them” keep you from your dreams!
In this podcast I discuss:
1. Manual accounting systems vs. automated accounting systems (Excel vs. Quickbooks)
2. Cash Method
3. Accrual Method
5. Chart of Accounts
6. General Ledger
7. Sales and income
Some resources you might find interesting:
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