Accounting for Musicians

Amplify your creative business

Do you mainline  music all day, every day, but want to shrivel up and die whenever the 30th of June rolls around?

We are the accountants you wish you met years ago.

Love your professional music business but hate the numbers? We take on your headache so you can focus on the headbangers! 

Whether you’re a touring headlining band, an in-demand music teacher, or a studio session producer; we intimately understand your dreams and struggles because we lived - and are still living! - in your same creative world.

Making a living from being creative is hard. Let us make the tax part easy.

Accounting for musicians

Bookkeeping for musicians

Tax and reporting

Business and tax advice all year round

Let us AMPLIFY your business and SIMPLIFY your life!

Call us 02 4715 1000
Musicians

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Getting your business in tune

Bookkeeping

Properly maintained bookkeeping is a pain in the butt. BUT it’s also the starting point for useful insights into how things are really going in your musical business.

Are you wondering if your snare and cymbals can hold out for another gig? Salivating over the thought of a Sennheiser upgrade? Not sure if you can afford to bring in another music teacher to take on some of your workload?

When we keep your books tidy, we get an understanding of your actual “spendable cash” situation.

Leave the bookkeeping to us, Xero, and ReceiptBank. You go do fun musician-y stuff.

After all, you didn’t fight tooth and nail to slay  in music just to be your own accountant, right?

Dext

Payroll

Trying to calculate your employees’ leave entitlements and weekly pay packets without knowing the ins and outs is like doing a solo in the wrong key.

You only get it right 1 every 5 notes. And we all know that’s not good enough.

We’re virtuosos at payroll. Let us show you how we shred your payroll problem. You’ll be screaming for an encore!

Xero implementation and training

Like all proper artists we don’t put our name on gear we wouldn’t use. Here at Amplify 11 we recommend Xero because it’s the software we use to run our business. Think of it as the Protools of accounting.

It’s collaborative like Google Docs, so we even get to see what you see, and make sure you don’t mess up.

A new piece of software is like a new instrument. You’ll recognise some principles quickly, but it can be a bit of a learning curve. That’s why we offer full implementation, set-up, and training to ease you into Xero.

Master it once and regret it never!

Music Accounting

Amplify to simplify

Now you’re in tune and ready to go, so let’s plug your instrument into the amp.
This is where we’ll adjust tone before we crank your business prospects up to 11.

Music accounting service Australia


sh!t in = sh!t out

You know it. We know it. Bad signal makes bad recordings. And no matter how long you tweak the faders or how many plugins you layer on top - it’s never going to become great.

That’s why we make sure everything in your business is 100% in tune before we start making records together (financial ones, that is).

For us, that means gathering up your sales receipts, expense accounts, and invoices; and making sure they are meticulously accounted for and classified. Perfect, pristine, precise sound in.

Then we EQ it all and get everything sitting at the right place in the mix. We’ll move your prepaid expenses into the correct financial period. We’ll set you up with a fixed asset register to categorise, track and properly depreciate the tools of your trade - whether those are instruments, cameras, or a ten-bed tour bus.

Then, let’s bounce the whole thing out. You finally have a full and proper set of business accounts.

You’ve always known music wasn’t just a phase. You’ve been making a living off it for years. Now you’ll have the records to stick it to anyone who tells you to cut your hair and get a real job!

Feeding it back

We’ve got the signal and the information we need. Let’s light up the tubes and really make this data scream with some beautiful - and useful - feedback.

Tax and reporting

Traditional accountants call this “tax compliance” - we call it, “Keeping you out of jail!”

As a business you’re required by the ATO and ASIC to file a tax return and prepare financial statements every. Single. Year.

We make sure what needs to happen will happen, sure. But you never half-bum  it, and neither do we.

We give you a complete, valuable insight into the financial state of your business.

Now you can make smart decisions that make you more money with your music!

Business activity statements

This is another tax obligation that we take care of and manage for you on a quarterly basis.

We will carry out an audit of ALL your transactions for the period.

We’ll check that your purchase GST has been claimed where it can be.

And keep you out of trouble by making sure you haven’t accidentally  claimed it where you shouldn’t have.

Tax planning

In between trying to find which one of your pedals is making the hum and reminding everyone to be at rehearsals for your festival set; the knowledge of a huge tax bill at the end of the year can easily become overwhelming.

At Amplify 11 we know how this can get in the way of you being your best creative self.

Our tax planning service gives you light guidance throughout the financial year, followed up by stomping the overdrive pedal three months before it ends.

No more leaving it to the last minute. Now you’ve got year round control of your financial obligations. All while crushing that tax anxiety that keeps you up at night.

Because at Amplify 11, we’re all about freeing you up to work your music magic.

Don’t do business quietly (blow the roof off with every gig
and every business move)

Business structuring​

The correct business structure is crucial for tax and succession planning.

This sounds boring until you realise that it influences the amount of tax you pay and how much ends up in your pocket!

AND makes it easy for you to add (or remove!) band or business members.

You know things move super quick in our industry. You need to stay flexible, well-tuned, and properly lubricated .

This is stuff we understand and can help with, because we are you!

Budgeting and forecasting

Budgeting: Making sure you don’t overspend

Forecasting: Estimating your future expenses

Freestyling doesn’t work here. Let us help you with your business prospects based on your actual numbers. No more guessology.

Using your current incoming and outgoing cash, we can help you work out if by this time next year you’ll have the funds to record a new album - or just enough to buy a set of replacement strings.

Business planning

You’d never enter a recording studio without first doing pre-production.

That’s a recipe for blowing out your costs in no time and  having nothing to show for it.

Business is much the same. You need a plan before you begin the next phase of your project.

And we’re your roadies who set up that solid stage for you to perform from.

Who we do it for

Musicians

Bands

Designers

Writers

Illustrators

Artists

Printers

Copywriters

Photographers

Actors

Directors

Developers

Ready to plug in and amplify your creative business?

If you’re ready to add a team of creative accountants to your creative business so you can Amplify profits and simplify paperwork, contact us now

Accounting and tax sessions with Amplify 11 turns what some may think is a chore into a pleasure.

Lindsay

Choirboys

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