Accounting software for entertainment industry

If you’re an entertainment industry professional, you don’t have time to keep track of your important financial tasks. You need a professional accounting software that allows you to see all your finances in one place. LaunchBooks Cloud, an online accounting software, is perfect for artists & promoters and the entertainment industry because it offers unique features other accounting systems don’t have.

Do you run an entertainment business? Have you ever lost sleep at night worrying that all your financial data is on a spreadsheet somewhere in your office? How much money did you make this month? How much money did you spend last month? Your accountant doesn’t know any more than he did the last time you asked him. As someone who runs several businesses in the entertainment industry, I know firsthand how important it is to have real-time access to the most accurate financial information possible without having to wait weeks or months for your accountant to crunch the numbers.

Entertainment industry accounting software helps you manage the business side of your company.

If you’re in the entertainment industry, you already know it’s not all fun and games. There’s an entire team of people behind the scenes who are responsible for keeping your business running smoothly, and one of those teams is accounting. Accounting is often seen as an unwelcome task, but with the right accounting software, it can be a breeze.

Entertainment industry accounting software makes managing your finances easy by giving you access to all of your financial information in one place. You’ll be able to see how much money has been spent on each project and what that money was used for. You can also track sales and expenses related to each project and see how they impact your bottom line.

A good entertainment industry accounting software will also help you stay organized by providing reminders about important events like tax deadlines or payment due dates. If you’re working on multiple projects at once, this feature can be especially helpful because it will make sure everything gets done on time!

Accounting software for entertainment industry

The entertainment industry is not for the faint of heart. Perhaps no other industry is as subject to the whims, trends, and constantly-shifting tastes of the consumer. How the public consumes entertainment content has evolved at an astonishing speed in just the past few years, and new entertainment forms and distribution channels are constantly under development.

As a result, entertainment companies have been forced to adapt business strategies to meet rapidly-changing industry demands. Decision-making has sped up. And legacy accounting systems are simply no longer up to the task of handling the array of products and services, operating subsidiaries, and complex business processes most entertainment companies manage on a daily basis.

Fortunately, there’s Sage Intacct.

Sage Intacct’s Top Features for Entertainment

Sage Intacct is a best-in-class cloud accounting system specifically built for flexibility and scalability. In addition to robust accounting capabilities, Sage Intacct comes equipped with the core features needed to keep up with the ever-changing entertainment industry.

Cloud platform. To be as nimble as today’s entertainment industry, Sage Intacct is built in the cloud, giving you instant access to your financials anytime, anywhere, on any device. With the information you need at your fingertips, it’s no longer a hassle to manage movie releases, album drops, and tour schedules. And by eliminating the hard-wired IT infrastructure required for legacy systems, you also eliminate the high capital expense that goes along with them.

Real-time financial data. Modern media companies can’t be successful using spreadsheets for financial reporting. CFOs and CEOs need real-time data to rapidly analyze and respond to market conditions and take advantage of the latest entertainment trends and consumer preferences. Sage Intacct’s built-in reporting tools eliminate spreadsheets and allow you to build your own reports and dashboards so the information you need is always at your fingertips.

Integration capabilities. As a best-in-class solution, Sage Intacct was specifically designed for easy integration so you can connect it to your favorite operational and front-of-house systems.

In addition to these key benefits, Sage Intacct offers a variety of features specific to the entertainment industry.

  • Configuration capabilities that allow you to tailor the software to your unique business processes
  • Ability to integrate data from iRightsⓇ, international motion picture rights management software
  • Ability to generate data to populate profit participation statements and film ultimate and other unique models
  • Ability to streamline and standardize the general ledger (GL) across multiple lines of business (and see consolidated financial data or view information for each business segment separately)
  • Project modules and other expense management APIs to help stay on top of costs for individual projects and initiatives
  • Ability to see financials on either a cash or accrual basis without the need for a separate module
  • Integration with contract administration systems
  • Automatic quarterly software updates with no downtime

Sage Intacct and Cargas: Your Entertainment Accounting Support Team

Sage Intacct is the ideal accounting solution for the entertainment industry because of its ability to automate, streamline, and optimize business and financial processes to drive growth and profitability in today’s hyper-fast entertainment economy.

But it’s not the software alone that makes the difference. It needs to be implemented, managed, and maintained properly to maximize its benefits. When you add Cargas to your team, you’re gaining a Premier Intacct Partner with the expertise and experience to accurately assess your needs and recommend the right way to implement Sage Intacct to optimize your business operations and accounting infrastructure. The result? A streamlined, highly-efficient environment built for growth and success.

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