People have this notion that the Media & Marketing industry is fun with the agency culture and working with different brands, and so on. But what most people fail to see is the struggle of handling multiple clients and multiple projects. Digital marketing agencies, marketing agencies, advertising agencies work day and night to ensure their clients' products and services are most sought. But these tasks take up most of the time and attention of a media and marketing business owner. While building a brand reputation for clients, an organisation ends up forgetting about its vital function.
A few of the challenges faced by the Media and Marketing Industry are -
One of the major advertising agency accounting issues is the accounts receivable. With the number of clients, the media organisation is dealing with it at times, neglecting its account receivable. There are times where the clients' payment is due for an extended period. And sometimes, it is clients who are not diligent with payments.
According to the type of services offered by the media and marketing agency, specific funds are invested to the third party for services like data, media buying, etc. With the high number of clients, there are chances of mixing up funds which is not ideal as it might cause fluctuation in a client's budget.
When we talk about payroll in the media and marketing industry, one must understand that the industry relies highly on freelancer and intern. And so, one must be aware of these provisions, and while you are at it, you must comply with Federal and State laws. So, the payroll process is quite cumbersome.
Whiz Consulting provides the best accounting & bookkeeping services for the marketing and media industry, adding value to your business. Media and marketing is a complex industry, and outsourcing non-core business activities like accounting & bookkeeping can be a game-changer for your business. It will help you focus on core tasks and increase overall efficiency without struggling to adjust time and attention between business' non-core tasks and serving clients.
We provide online accounts receivable services that allow you to be stress-free about clients' payments. Once an account receivable system is in place, you need not worry about bad debts.
We also provide online payroll services, which will relieve you from the menial task of recording, maintaining, and paying different types of employees, be it full-time, part-time, freelancers, interns, or contractual employees.
Whiz consulting also allows you to efficiently manage your and your clients' funds, helping you avoid any issue with clients. Our bookkeeping and accounting service will provide you with the opportunity to scale up your business.
We at Whiz Consulting has been providing Accounting and Bookkeeping Services in Australia for Media and Marketing Industry and have in-depth knowledge of how it works. If you are looking for Bookkeeping and Accounting services, here is why you should choose us -
Hiring a full-time bookkeeper or accountant expert for accounting and bookkeeping will cost you 70% more than hiring our service, where you will have a pool of resources to assist with your expert knowledge.
With the experience of over a decade and technical know-how of industry-specific requirements, our team will streamline accounting for a marketing company and upsurge overall productivity and lower down taxes.
Our team are well familiar with the accounting principles, standards, law and regulation prevailing in the marketing industry. Also, we keep up to date with any new laws and rules to help your business stay compliant.
Our accounting services in the media and marketing industry can help your business set apart from the crowd and grow to its potential as we take care of your vital function so that you focus on your core function.
We provide unlimited phone and e-mail consultations with experienced bookkeeping and accounting professionals, and we can modify a plan for you based on your exclusive business needs.
Regularly view detailed financial reports of all the financial information. These reports help you take a strategic financial decision needed for better marketing agency cash flow.