Accountants for experiential marketing & events agencies
For events agencies, good financial management is about more than just bookeeping and compliance. With evolving project costs, multiple suppliers and delayed payments, you need a clear, up-to-date view of the numbers to protect your margins and stay profitable.
If you are looking for deeper insight from a specialist accountant who really understands the events sector, get in touch to find out how we can help.
At Barnridge Accountancy, we know how event management works
Event planners manage a lot of moving parts, and projects often evolve as they go along. A job might start off looking profitable on paper – then the venue adds a charge, the client asks for a late change and freelance hours overrun. None of these things alone will break the project, but by the time everything’s reconciled, a decent chunk of profit may have disappeared.
A specialist accountant like Barnridge can help you keep sight of costs on a project by project basis and understand where margins are being squeezed.
You won’t have to waste time explaining your business to us, as we already have essential industry knowledge. Deposits, phased billing, paying freelancers and seasonality are all familiar territory to us.
Our expert team can hit the ground running to help you track the numbers across multiple projects. We cover the accounting basics and compliance, but where we add real value is helping you stay profitable and plan for business growth.
Our specialist accounting services for events and experiential marketing agencies
Here’s how we can help your event planning business remain compliant, protect margins and make better decisions for the future.
Getting the financial foundations right
One service
Cloud accounting that keeps up with the job
When several events are running at once, the accounts can fall behind quickly. Card spend happens on site, supplier invoices arrive later, and receipts sit with different members of the team.
Barnridge can set up and manage cloud accounting around the way your agency works, bringing costs, invoices and project information together as they happen. It means less chasing and reconciling after the event, and a much clearer view of what you’ve already spent and committed before you approve the next cost.
Stay compliant
Four services
Keep tax under control
With large deposits coming in and multiple costs going out, it’s easy to lose track of what’s available to spend and what should be earmarked for corporation tax. We’ll help you monitor your tax obligations throughout the year, so you can plan for upcoming bills with no surprises. Where there’s an opportunity for tax efficiency, you can rely on us to be proactive, including claiming allowable expenses and identifying relevant tax reliefs.
Annual accounts that reflect the way you work
In our experience, few event businesses get to year-end with every project neatly tied up and invoiced. Deposits can be months in advance, while costs on past events are still working their way through. We can ensure income and costs are recognised in the appropriate period, so your annual accounts give you a meaningful picture of performance.
VAT compliance for complex projects
VAT for event costs can get confusing. Just one project can combine event admission, production, venue hire, catering, merchandise and overseas suppliers, which might require different VAT treatments. Our experts can advise what VAT should be charged and what you can reclaim so you’re not paying for more than you need to.
Payroll for employees and event teams
Managing payroll in-house is a huge admin burden and mistakes can happen, especially when it comes to paying temporary staff like brand ambassadors and freelancers. Errors can be costly if you treat someone as self-employed when they should be on PAYE, or if IR35 and off-payroll rules aren’t applied correctly. Barnridge can provide complete outsourced payroll services to save you time, help avoid penalties and meet your HMRC obligations.
Protect profit margins
Three services
Cash flow management
When suppliers, venues and staff need paying, yet the client invoice isn’t due for another 30 days, cash can get uncomfortably tight. We’ll help you forecast cash flow against payment schedules and future costs, so you can see pressure points before they become a problem. That way, you can make more informed spending decisions that won’t put pressure on the business.
Costing by project
In event management, your original quote is often just a starting point. Things inevitably shift, and costs can be unpredictable when dealing with tricky clients and multiple vendors. We can implement cost tracking systems to give you real-time insights into each project. Scope creep becomes clearer, and you can question overspend while there’s still time to act.
Profit analysis by client and project
Event organisers know that ‘busy’ doesn’t always mean ‘profitable’. If you’re working flat out but barely covering costs, it’s important to understand why. We can analyse project-level margins to pinpoint where costs are creeping up and which clients or types of work are delivering the strongest returns. With that insight, you can refine your pricing, focus on more of the right work and make sure a busy pipeline translates into healthy profit.
Make better strategic decisions
Two services
Management reports with something to say
Regular financial reporting is about more than last month’s turnover. Our management reports can be tailored to what’s important to your business, including forward-booked revenue, pipeline, margins, overheads and cash position, so you can see where the business is genuinely heading. With that level of insight, you have a much better grounding for decisions over hiring, investment and growth.
Outsourced FD support for when the stakes are high
As your agency grows, you have bigger calls to make: when to recruit, invest, take on major contracts, raise funding or diversify. Our outsourced FD and CFO services give you senior-level financial input without the prohibitive cost of an in-house hire. Working with your senior team, they can challenge assumptions, model different scenarios and guide you towards sustainable growth that doesn’t put a strain on operations.
See our entire range of accounting services for agencies.
Insightful accounting services for the events and creative industry
Where could your events agency be this time next year if you had a clearer view of each project’s profitability, reliable cash flow and fewer financial tasks on your to-do list?
Barnridge can help you see what’s possible with a clearer view of your numbers. You can either outsource your entire finance function to us, or we can provide tailored support to include what you need. Whatever you choose, you’ll benefit from an experienced, proactive team that is dedicated to moving your agency forward.
Talk to Barnridge Accountancy today and take the first step towards healthier profit margins and better financial management.
Give us a call
020 3997 6165
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Frequently asked questions about our accounting services for experiential marketing agencies
How is accounting for an event agency different from a standard business?
Cash flow in experiential marketing agencies is complex. There are large upfront costs, project-based income, supplier deposits and delayed client payments to manage that don’t always line up. That makes it vital to have a clear view of cash flow and profitability at project level. Barnridge Accountancy specialises in your sector, and we know what you’re up against. We put the right systems and controls in place to help you monitor budgets, protect margins and keep enough cash available for upcoming commitments, including tax.
Can you help us understand which events are actually profitable?
Yes. Our project costing, cash flow management and cost tracking systems enable you to see your original budget against revenue and costs in real time. Once events are finished and invoiced, you can see which projects, clients and types of work are most profitable for your business and where your pricing might need attention.
Can you help with freelancers and employees?
Yes. Barnridge can manage payroll, pensions and PAYE for your core team, as well as helping you assess the employment status of temporary staff and understand when IR35 rules apply.
Why is my event agency turning over high revenue but barely making a profit?
Scope creep is common in the event management industry. Unbudgeted costs, overtime and client changes can all eat into profits once each project is fully reconciled. As specialist event management accountants, Barnridge can help you set event-level budgeting, track costs in real time, and put robust financial controls in place to help protect your margins.
How do you choose the right accountant for an events agency?
For event agencies, it’s important to choose an accountant like Barnridge that understands how project-based businesses work. We know the challenges that come with fluctuating cash flow, large supplier costs, freelancers and various VAT complexities, and are geared up to help. More than just compliance and bookkeeping, we can help your business stay profitable and growing, with forecasting, cash flow management, tax planning and FD-level advice.
Not sure where to start? Get in touch with the team today and one of our accounting experts will be able to help.