Let us handle your
- invoices
- weekly check run
- monthly close
- 1099 preparation
- accounting support
KEEP YOUR AGENCY RUNNING SMOOTHLY BY AUTOMATING YOUR KEY ACCOUNTING PROCESSES.
Let us handle your
- invoices
- weekly check run
- monthly close
- 1099 preparation
- accounting support
KEEP YOUR AGENCY RUNNING SMOOTHLY BY AUTOMATING YOUR KEY ACCOUNTING PROCESSES.
Invoice automation
Sending out timely and accurate invoices is one of most critical functions a talent agency has, second only to making sure the talent shows up on time and camera ready. These days invoices can be generated and sent with just a few clicks, and paid with just a few more. A proper configuration and regular reconciliations between the booking and accounting software is the key to successfully automating your invoicing process. When you work with DBA you get all of that and more.
Electronic payments
Each invoice is emailed with a prominent “Pay Now” button in the body of the email. When the client clicks the button, they are taken to a portal where they can pay electronically with any method you allow. Funds are deposited within a couple of business days and the invoice is automatically marked paid in your accounting software.
Software sync
When a job has been completed and is ready to invoice, simply changing the status in the booking software can create an invoice to the client and vendor bills for each talent in your accounting software. When an invoice or vendor bill is paid in your accounting software, the status and payment dates can be automatically changed and updated in your booking software.
Automated reminders
Sending out invoice reminders can be time-consuming and often gets moved to the back burner — or just forgotten entirely. Now we can create friendly reminder templates and regular schedules to remind clients to process unpaid invoices. These reminders are particularly effective when collecting commission from talent who were paid directly.
Weekly check run
Paying talent on time is one of the easiest things you can do to keep them happy. Falling behind on talent payments can put you at risk of waiting time penalties and other legal issues. To address this, we first we set up a cloud-based ledger to record incoming checks and ACH payments. Then we work with you each week to make sure each ACH deposit and check is identified and the related talent payments are processed with any credits applied.
Invoice payments
Often checks arrive with overtime, usage or taxes withheld. We confirm that all changes have been made and synced correctly between the booking and accounting software. Many invoices are paid by check or other non-automated methods. When that happens, we verify that the payment received matches the invoice total.
Vendor credits
Keeping up with talent expenses can be difficult to manage— and the higher the volume, the harder it gets. We verify that each expense entered in the booking software is synced to the talent’s vendor profile in the accounting software. When a talent has a payment due, we make sure that any open credits are applied before payment is processed.
Talent payments
The days of printing checks and stuffing envelopes are behind us. Talent can now be paid via ACH or check with a couple of clicks in many different payment platforms. When processing payments, we verify that all details are correct and the payments have been successfully completed, including management of any returned checks.
Monthly close
Many agencies don’t discover errors in their books until several months after the error has occurred. Looking back that far can be challenging and can take hours searching through old emails or calling bookers to see if they remember what occurred. In order to avoid this problems entirely we complete a comprehensive monthly close process for each of our clients. This guarantees any errors are caught within a few weeks instead of months.
Transaction matching
Bank accounts are connected to your accounting software and new transactions are downloaded daily. Once per week we match all downloaded transactions with existing deposits and payments. If any transaction does not match, we contact the appropriate person at the agency and qualify the transaction.
Bank reconciliation
Each month we download the bank statements for each of your accounts and reconcile them in your accounting software. We pay close attention to any unreconciled transactions. These could be legitimate uncleared checks or deposits, but are often duplicates or failed payments. Catching these errors monthly reduces tedious research and incorrect tax filings.
Validated Revenue
Once everything has been matched and reconciled, we validate the revenue figures by comparing an agency revenue report in the booking software with a profit and loss in the accounting software. These amounts are verified on a monthly and and year to date basis to catch anything that may have changed in a previous month during the year.
1099 preparation
The IRS requires companies to report payments made to most vendors every year by the end of January via a 1099. Due to the high volume of talent most agencies have, failing to file correct and timely 1099s can result in thousands of dollars worth of penalties. We assist our clients in the filing of 1099s every year and have developed a tried and true process for validating and promptly filing even the largest and most complex filings.
Payment validation
Changes and sync errors can create discrepancies in payment data. We validate the totals from each data source to confirm the accuracy of the amounts being reported to talent. DBA also pays careful attention to separating any payroll payments from the 1099 totals, so you can rest assured that your 1099s are filed accurately.
Vendor validation
Talent information changes all of the time. Getting dozens of 1099s returned in the mail because of an outdated address creates hours of wasted time tracking down the correct information. We are able to send electronic W9 requests to talent prior to filing. This way, any name or address changes are updated and TINs are verified with the IRS database.
Electronic filing
We can all stop buying special sized window envelopes and expensive blank forms. Talent are able to opt in to email delivery in addition to getting mailed a paper copy. Transmitting to the IRS is done in an online portal with the ability to view and correct any potentially rejected forms.
Accounting support
Agency owners and their staff waste hundreds of hours every year on calls and chats with support. Most agency owners don’t have anyone they can call when difficult accounting questions or issues land in their lap. We serve as the first point of contact for all of your accounting support needs. We coordinate with software and service providers on your behalf whenever possible to resolve issues with minimal involvement from you.
Bookkeeper support
One-off accounting questions come up all of the time. Instead of wasting time on a call or chat with your accounting software’s support line, bookkeepers can get their problems solved in few minutes with a quick call or email. We can even set up a screen share meeting to give staff a step by step walkthrough of the solution.
Executive support
Making big decision financial decisions about your agency can be nerve wracking. We give our clients a single point of contact for advice on anything from working out a deal with a potential investor to deciding how much cash they should leave in their operating accounts.
CPA support
Every year you probably get an email or call from your CPA with questions about transactions in the books for the prior year. Instead of spending hours of time trying to figure out where to even look for the answer, you can leave all of that to us. We coordinate with CPAs to answer all of their question with minimal involvement from you.
Ready to turbocharge your business?