Separate production costs by project
When expenses from several assignments share one account, a profitable-looking month can hide an unprofitable project.
Tag the cost at purchase
A freelance studio buys lighting for one campaign, rents a location for another, and pays a general software bill. Without project tags, the creator cannot see which job covered its own costs.
Separate shared overhead
One account can hold several stories
Assign direct costs to the project that caused them, and keep shared overhead in a separate category. Decide how to handle reusable equipment before judging one assignment's margin. Track approved extras and reimbursements separately from original fees. Project-level records help with future quotes, but a single unusual job should not set every future rate.
Track approved changes
Create a simple code for each active project and add it to receipts, invoices, and payment notes as costs occur.
Reusable equipment needs a rule
Reconstruct one completed job's direct costs and labor hours. How does its result compare with the estimate used in the quote?
Use margins to improve quotes
Bookkeeping and tax treatment of shared assets varies. Use a qualified accountant for formal reporting decisions.
