Client Overview
A video production company in the US struggling with project-based accounting and financial communication gaps between production and finance teams. They needed a structured accounting system in QuickBooks, along with a PO system to improve financial tracking and reporting.
The Challenge
- Project-Based Accounting Setup – Production teams weren’t tracking expenses effectively, leading to inaccurate financial reporting.
- Lack of Financial Visibility – Management didn’t have clear insights into project profitability and expense tracking.
- No Purchase Order (PO) System – Expenses were being incurred without proper approval workflows, leading to cost overruns.
- Disconnected Production & Finance Teams – There was no structured process to ensure both teams were aligned on expenses, approvals, and financial reporting.
Our Approach
- Project-Based Accounting in QuickBooks:
Implemented job costing and project tracking in QuickBooks to align production budgets with actual expenses.
Structured financial reports to show real-time tracking of expenses per project for better decision-making. - PO System Implementation:
Set up a purchase order system to ensure all project-related expenses were pre-approved before being recorded in accounting.
Integrated the PO system with QuickBooks, creating a seamless workflow from expense approval to financial reporting. - Optimising Production & Finance Communication:
Created a clear process where production teams report expected costs upfront to finance before spending.
Finance teams provide transparent tracking of recorded expenses so production knows what’s being reported and how.
Introduced regular finance check-ins with production teams to avoid last-minute budget discrepancies.
The Results
- Fully Integrated Project Accounting – QuickBooks setup now allows for real-time tracking of project costs and profitability.
- Optimised Cost Control – The PO system prevents unnecessary spending and ensures budget alignment.
- Improved Financial Visibility – Management now receives detailed, accurate reports with clear insights on project expenses.
- Stronger Finance & Production Collaboration – Teams are now aligned, preventing missed expenses and budget surprises.
Conclusion
By implementing structured project-based accounting, a PO system, and improving financial communication, Unreconciled helped this video production company gain full control over project finances, eliminate budget surprises, and streamline expense tracking.
From financial confusion to structured, project-driven accounting ensuring every dollar spent is accounted for.
