TOUR ACCOUNTING
The Music CPA provides professional tour accounting, and our professionals can handle every financial detail of your tour. If you are a touring artist or band, we perform all areas of tour accounting, including:
- Initial budget and planning
- Negotiating/structuring production and merchandising contracts
- Monthly/quarterly budget and budget vs. actual income/expense
- Income and expense accounting, including collection of income from booking agencies, merchandise, sponsorship, endorsements and road managers
- Verification and payment of expenses
- Identify other revenue opportunities, including licensing, sponsorship and merchandising ventures
- Policies and procedures for cash management, collection and reporting
- Contract analysis (track performance income and advance deposits)
- Cash flow projections and tracking
- Profitability projections, ratios
- Payroll administration, payroll tax preparation
- Tax issues and compliance
- Preparation and filing of all tax returns, local, state and federal
- Preparation of tour monthly financial statements
- Bank reconciliations
- State, local and federal tax accounting and tax return preparation
- Preparation of annual W-2 and 1099’s
