Media Production Accounting

What is Production Accounting for the Media and Entertainment Industry?

Production Accounting of Film and TV projects entails the accounting of all costs related to the project. This includes all supplier spends, petty cash receipts, payroll costs and statutory charges.

A commissioning party / funder will agree to and sign off on a Production budget for the Producer to then spend against. This budget is detailed by function and costs must be spent within those functions, if overspent/underspent on a function category, a variance needs to be explained.

Software Solutions Used

  • Optical character recognition (OCR) that extracts the invoice / receipt data for review by the Production Accountant
  • Publish invoice / receipt to the accounting system along with a digital image (PDF or JPEG)
  • Documents available digitally into perpetuity
  • Cloud based accounting system.
  • Transactional allocations for important spend tracking (by BEE spend or geographical area for example)
  • Bank feeds, custom cost reports, budget management, general ledgers
  • Purchase order creation and approvals
  • Cloud based invoice approval control
  • All authorizations done by Producer / Line Producer via email or mobile app before payment is made

SERVICE RATING

Proven Experience

Ascend Solutions has worked with a number of Producers, Funders, Commissioning Parties (including Pay TV as well as international streaming services). References are available on request.

Contact Us

For any queries, please do not hesitate to contact us.