Bookkeeping and Accounting for Wedding Planners

As a wedding planner, bookkeeping services can provide significant help in budget tracking and expense management. Firstly, bookkeepers will record all financial transactions related to your business which includes income and expenditures. By doing so, you can have an up-to-date and accurate understanding of your financial situation, allowing you to have a clear overview of your budgets.

Furthermore, bookkeeping services can categorize your expenses and income, making it easier for you to identify where your money is coming from and where it's going. This makes it simpler to create and manage budgets for each wedding you plan, as you can see how much you've spent on various services and suppliers in the past.

Also, having a bookkeeper manage your financial transactions means there's less chance of errors occurring than if you were handling the books yourself. This ensures your budget tracking and expense management are as accurate as possible, aiding in making sound financial decisions for your wedding planning business.

A bookkeeper can assist you in managing payments from multiple clients and vendors by accurately recording all financial transactions. They can handle the invoicing of customers, ensure that payments are received, and track any overdue accounts. Similarly, they can process payments for vendors, reconciling any discrepancies and avoiding late fees. Additionally, a bookkeeper can also help with financial reporting, giving you a comprehensive overview of your income and expenses and aiding you in making informed business decisions.

Yes, a professional bookkeeper can absolutely assist with tax preparation specific to the wedding planning industry. Their industry-specific knowledge can be invaluable in identifying potential tax savings, ensuring compliance with relevant tax laws, and managing your financial records efficiently. At Bench Accounting, our skilled bookkeepers are experienced in different industries, including wedding planning, so you can have peace of mind knowing that your finances are in good hands.

Nope! All bookkeeping is completed in-house.

Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.

We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.