Accounting for designers

elkie · 02-22-2007, 04:27 PM

Question to all those who work in a small graphic design studios with 3-5 people...

I am trying to organize accounting. It takes so much time...
1. Do you have an accountant coming to your office?
2. If you are doing yourself accounting, what program you use or suggest?
3. What are your recomendations for productivity? Should each designer send the invoice after finishing job? So each of them will have access to accounting system?
4. Anybody use Filemaker? And would you suggest to use it?

Thank You so much in advance...

E.

DavidLieb · 02-27-2007, 04:16 AM

What you're probably talking about is a book keeper, not an accountant. FRor a small firm, a book keeper keeps all the records, and an accountant is visited once a year to do the actual taxes. If you go talk to a small business accountant, they'll help you set up an efficient book keeping strategy. They'll charge you, but they'll charge you less if they think you'll be coming to them at the end of the year to do the taxes.

**Drazan** · 02-27-2007, 09:46 AM

^^Yep.

Contact an accountant who specialized in small business taxes. Wouldn't hurt if they have graphic designers as clients already. Have them set up your accounting methods to ensure that you aquire everything over the course of a year.

A bookkeeper is a paper pusher who puts all the invoices, bills, and other odd bits that the accountant requires in proper order. A bookkeeper can also do payroll, file payroll taxes and sometimes sales taxes.

The accountant files the quarterly and yearly taxes.

However, if you are growing into a big enough firm, it wouldn't hurt to find an accountant that can also be a financial advisor. A really good accountant will help the business owner by telling them when and how to spend money on equipment. Whether to wait until after fiscal or before for that wide format printer or new press. And they will also help in providing records and financial statements at the end of the year so that you can go to the bank and gain more operating loans or cashflow for your growning business.

=)
Jade

Klavzz · 03-13-2007, 06:58 PM

I did some research on MYOB(Mind Your Own Business)... no I'm not being rude thats the name of the programme...but anyway my husband bought it for his small business he hasnt started using it yet but it looks promising... but I dont think you should have each designer sending in a bill it might get confusing when it come around to tax time.
Justmy opinion.

TR1 · 03-20-2007, 01:22 PM

I am a freelancer and while obviously my accounting needs are far less than yours - I found a good accountant and they gave me a excel spread sheet set up as they needed for doing my books at the end of the year (it makes my accounts cheaper as everything is set up for them as they need it).

I keep the monthly accounts myself, but you could easily hire a part time book keeper to do that for you. Before choosing a programme to use I would choose your accountant - each may have a preferred/suggested way to keep your accounts.

vtwin_gary · 03-20-2007, 01:37 PM

quick books seems to be pretty standard.
its pretty easy & you can create an accountants copy that they can make the necessary changes in then you can reinstall there backup to update your books. works well for me & my accountant.

jcjdoss · 03-20-2007, 01:52 PM

We use Quickbook for our businesses. I have the honor of being married to an accountant not to meantion my full time job also has an accountant. Both use Quickbooks, very easy straight forward and at the end of the year it, works with Turbo Tax.

elkie · 03-23-2007, 03:16 PM

Thanks for all your replies.
Well, I am using right now Quickbook Accounting for mac. By the way I live in canada, so MYOB doesn't work for me. So this program, I think was made based on MYOB. But I really don't like it. It take alot of my time, which instead I would put into work...