#23 - Key Accounting Topics for Marketing Agencies

Empowering Healthy Business: The Podcast for Small Business Owners

Having supported the bookkeeping and accounting needs of many marketing agencies over the years, SmartBooks routinely addresses a few key accounting topics to help clients get the most out of their financial reporting. In this episode guest Lindsay Jarosch highlights these issues.
More specifically, this episode includes:

• Benefits of a segmented chart of accounts
• Accounting for client media purchases made by the agency
• Profit modeling for the firm
• Using performance metrics to manage pricing and staffing
• The value of 12-week forecasts
• Tax planning and management

Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.

Thanks for listening!
Host Cal Wilder can be reached at:
[e-mail]
https://www.linkedin.com/in/calvinwilder/

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1. #23 - Key Accounting Topics for Marketing Agencies (00:00:00)

2. Benefits of a segmented chart of accounts (00:01:37)

3. Accounting for clients media purchases (00:14:08)

4. Benefits of adopting accrual accounting (00:21:59)

5. Using financial performance metrics to go beyond the financials statements (00:27:56)

6. Managing client/project profitablity (00:32:57)

7. Making hiring and staffing decisions using Labor Value Multiple and variable cost considerations (00:36:22)

8. Budgeting and forecasting (00:41:44)