1. Know your Profit Client wise

Under advertising , marketing businesses model , companies spends in Google Adwords , Facebook , Instagram. Such expenses are recurring in nature change on basis of location , nature of client , time etc. Business is required to keep track of expenses done for clients to understand profit statement client wise / campaign wise.

2. Sales tax Compliances

Being an services industry and if you dealing with corporate clients , such client usually demands for tax invoice ( VAT / GST ) so they can take set off ( benefit ) of taxes paid. Correct accounting for Advertising Industry ensure they taking correct and maximum input credit setoff. This ensures company have better cash flow and sales tax compliant.

3. Billing on Basis of Hours Spent

Based on expertise Advertising / Marketing industry charges clients hours basis. They given estimate of hours required for particular campaign and bill according. Your time is valuable and keeping track of same is important to bill clients.

4. Accounts Payable

For running Advertising / marketing business may have multiple vendors such as designer , Script writer , Video editor etc. Advertising Industry avail services of vendors for successful delivery of campaign. Vendors bills them on basis of contact , skills etc. You need to mange your accounts payable in correct manner.

5. Handel Reimbursement

If you have employees that travel or pick up supplies, then you need a robust system to effortlessly track expenses and issue reimbursements. Employees expenses such as Travel , Food, Loading need to be tracked and paid correctly.

For better and smooth bookkeeping for Advertising / Marketing Industry you can opt for cloud bookkeeping software such as Xero , Quick books , Xero , Wave etc. Cloud bookkeeping software’s have multiple feature and affordable they then help in day to day bookkeeping , preparation of financial statements , trail balance etc. You can closely monitor on cashflow , sales etc.

Below reports can be generated with use of cloud bookkeeping software.
Operate from any where
Keep track of day to day bookkeeping
Prepare Trial balance
Financial statement
Track Project wise / client wise reports
Cash flow management
Accounting payable report
Accounts receivable report