What do Accounts/Finance Assistants do?

A Finance Assistant or Bookkeeper in the music industry will assist in the day to day work of accounting and business administration for bands, artists, management, independent labels and new media companies in the music and creative industry. They do not need a professional qualification in accountancy, but they may be working towards one. Starting out as a Finance Assistant in a music company can be a good route in to developing a wider role. It is often possible to gain excellent experience, especially in dealing with the affairs of smaller musicians, record labels, recording studios and management companies. Possible career development includes becoming a Qualified Accountant, developing an expertise in licensing and copyright, or becoming involved in business decisions. A smaller music company is likely to offer more opportunity to get involved in a broader range of activities.

A Finance Assistant or Bookkeeper may be employed by a media or music company or by an individual artist or musician. They may also be employed by an accounting practice specialising in the music industry, which may provide services in areas such as tour accounting and payments to artist and crew, tax planning, and royalty accounting and audit.

The day to day tasks of a Finance Assistant or Bookkeeper may include: producing invoices, credit control, tax preparation and returns, assisting the Accountant in preparing monthly reports, accounts payable, accounts receivable, bank reconciliations, record keeping and filing. They may also help in preparing artist profit and loss and royalty accounting. There may be opportunities to work with artists, labels and music companies, including some on site client work.

A Finance Assistant or Bookkeeper will need to be familiar with specialist accounting and bookkeeping software packages.