Beyond the allure of the rock and roll lifestyle, we have a team of talented accountants for creatives who look to serve one primary purpose – helping you transform your talent into a financial success.
By knowing exactly what is required by those operating within the music scene, we help you avoid common pitfalls, take the right steps and truly make the most of your money.
This in turn lets you rock on without any financial worries on your mind.
How Our Experienced Accountants for Musicians Can Help
Our goal at Raedan is to help keep your business finances in shape so that you can focus on nurturing the musical talent that got you here in the first place.
Plus, helping talented creatives succeed is what we love doing best. So our business partnerships are very much a win-win kind of scenario for all involved.
We do this by taking a detailed analysis of your finances and using the information that it gives us to provide you with sound business advice.
As a group of creatives ourselves (believe it or not, effective accounting takes genuine creativity) we can empathise with you to gain a legitimate understanding of what works for you.
Operating in a capacity that suits you, we help musicians get the most out of their money.
Accounting For Musicians – Simple Tips
Keep On Top Of Your Bookkeeping
One of the most common issues we come across as accountants for musicians is messy books. So often bookkeeping gets put in the “I’ll sort it later” pile. And fair enough. You’re here to produce the next big hit, not balance the books.
However, leaving all that number crunching to the last minute inevitably leads to a big fat mess down the line. And with that mess comes a less accurate means of forecasting your music business’ future. By keeping tabs on what you should be checking weekly, monthly and annually is a good place to start.
We also recommend researching the best accounting software for musicians like yourself. Xero is a good place to start…
Always Request An Invoice
It doesn’t matter who, when or how much you are paying, requesting an invoice ahead of payment is always a good move.
Not only does this help you stay ahead of the game, but it also prevents you from having to chase invoices in hindsight.
We’ve worked in the music industry long enough to appreciate that hectic schedules – from recording to producing to touring – can become a serious hindrance in this regard. And failing to get your invoices in order often comes at a price. Literally… So thinking ahead and requesting invoices for every payment made is of crucial importance.
Keep Your Receipts
For the love of God keep your receipts! Or quickly upload them in one short snap using our recommended software. Keeping tabs on those little slips of paper – insignificant though they may seem – can save you a helluva lot of hassle later down the line. The list of expensable purchases is pretty wide ranging in the music industry, incorporating everything from travel costs to the jazziest stage costumes.
Knowing exactly what you can and can’t claim back on can be confusing. Therefore, it’s better to be safe than sorry and keep receipts wherever possible and let your financial advisor decipher which to keep and which to bin.