Modeled on project-based production accounting. No published standard chart of accounts exists for media production companies, so this describes its model rather than claiming a standard.

Download the media production chart

Pick a format. The file downloads immediately.

What is different

Averaging projects is how a studio stops noticing the bad ones

Two jobs at the same fee can have completely different outcomes once one needed a location, a crew of nine and three weeks of post, and the other was a studio day with an edit. Reported together, they average into a margin that describes neither.

This chart carries Freelance Crew, Talent & Models, Location Fees, Post-Production Contractors and Stock Footage & Sync Licenses in cost of sales, so each project can be read on its own and the pattern behind the bad ones becomes visible.

The chart

The full Media production chart of accounts

All 51 accounts, with the note that tells you what belongs in each one. This is the same file the download gives you, rendered here so you can read it without opening a spreadsheet.

Code	Account	Type	What belongs here
4000	Revenue	Income	Production, post and licensing revenue.
4010	Production Services	Income	Technical production billed to a client, usually as a package.
4020	Post-Production & Editing	Income	Editing, colour, sound and finishing billed to a client.
4030	Photography	Income	Stills photography billed to a client.
4040	Licensing & Royalties	Income	Income from licensing your work and from royalty statements.
4050	Retainers	Income	Recurring fees billed for ongoing availability or scope.
4060	Equipment Rental Income	Income	Gear rented to clients, billed per day or per event.
4070	Content & Social Packages	Income	Recurring content and social media retainers and packages.
5000	Cost of Sales	Cost of goods sold	Crew, talent and location cost carried against the job that produced it.
5010	Freelance Crew	Cost of goods sold	Freelance crew engaged per job.
5020	Talent & Models	Cost of goods sold	On-camera talent, models and their agency fees.
5030	Location Fees	Cost of goods sold	Fees paid to use a location for a shoot or event.
5040	Equipment Rental	Cost of goods sold	Gear rented in for a specific job.
5050	Set Design & Props	Cost of goods sold	Set construction, dressing and props for a production.
5060	Wardrobe, Hair & Makeup	Cost of goods sold	Wardrobe, hair and makeup supplied for a production.
5070	Stock Footage & Sync Licenses	Cost of goods sold	Licensed footage, music and sync rights used in a deliverable.
5080	Post-Production Contractors	Cost of goods sold	Editors, colourists and sound contractors on a job.
5090	Crew Travel & Per Diem	Cost of goods sold	Crew travel, accommodation and per diem on a job.
5100	Catering on Set	Cost of goods sold	Crew and talent catering during a shoot or build.
5110	Production Insurance & Permits	Cost of goods sold	Production-specific insurance and filming permits.
6000	Operating Expenses	Expense	Operating costs of running the business, below the gross profit line.
6010	Management & Office Salaries	Expense	Salaries for management and administration.
6020	Payroll Taxes & Benefits	Expense	Employer payroll taxes and the cost of employee benefits.
6030	Rent & Occupancy	Expense	Rent plus the occupancy costs that come with the building.
6040	Utilities	Expense	Electricity, gas, water and waste for the premises.
6050	Repairs & Maintenance	Expense	Repairs and upkeep of the building, plant and fixtures.
6060	Software & Subscriptions	Expense	Recurring software licences and subscriptions.
6070	Advertising & Marketing	Expense	Advertising spend and marketing programmes not tied to one event.
6080	Professional Fees	Expense	Accounting, legal and consulting fees.
6090	Business Insurance	Expense	General liability, property and business insurance.
6100	Card Processing Fees	Expense	Merchant fees on card payments taken from customers.
6110	Office & Supplies	Expense	Office consumables and general supplies.
6120	Telephone & Internet	Expense	Phone lines, mobile plans and internet connectivity.
6130	Travel	Expense	Agency travel not recharged to a client.
6140	Meals & Entertainment	Expense	Business meals and entertaining. Partially deductible, so keep it separate.
6150	Licenses & Permits	Expense	Operating licences and permits to trade.
6160	Dues & Memberships	Expense	Trade body memberships and professional dues.
6170	Training & Education	Expense	Staff training, certification and continuing education.
6180	Bank Fees	Expense	Account, wire and other charges levied by the bank.
6210	Studio Rent	Expense	Rent on studio or workshop space.
6220	Editing Software & Cloud Storage	Expense	Editing suites, plug-ins and the cloud storage a job needs.
6230	Camera & Gear Maintenance	Expense	Servicing, cleaning and repair of cameras and production gear.
6240	Small Equipment & Gear	Expense	Small production gear bought outright rather than capitalised.
8000	Other Income	Other income	Income earned outside normal trading activity.
8010	Interest Income	Other income	Interest earned on operating and reserve balances.
8020	Grants & Incentives	Other income	Grant funding and government or utility incentives received.
8030	Vendor Rebates & Commissions	Other income	Rebates and commissions paid back to you by suppliers.
9000	Other Expenses	Other expense	Below the line costs that are not part of operations.
9010	Depreciation & Amortization	Other expense	Write-down of tangible assets and amortisation of intangibles.
9020	Interest Expense	Other expense	Interest on notes payable and long-term debt.
9030	Penalties & Late Fees	Other expense	Fines, penalties and late payment charges.

Questions

Media production chart of accounts questions

How should a production company track project profitability?

Put every direct cost in cost of sales and code it to a project, then read gross margin per project rather than per month. Crew, talent, locations, post and licensing are the five that matter, and this chart separates all of them.

Where do stock footage and music licences belong?

Cost of sales, against the deliverable that used them. They are a direct cost of the thing you sold. Held in operating expenses they become an unexplained overhead that grows with no obvious cause.

Should retainers be recognised differently from project fees?

Recognise a retainer over the period it covers, not when it lands. Booking the whole thing on receipt makes the signing month look exceptional and every following month look weak, which is a reporting artefact rather than a business result.

How do I handle freelance crew and 1099s?

Collect a W-9 before the first payment and track each contractor's annual total against the IRS threshold. Freelance-heavy production companies often cross the threshold with dozens of people, and reconstructing that in January from a year of invoices is the worst version of the job.

See your own invoices coded to this chart

Send us a week of real vendor invoices. We will run them through Cleo, code each one to the right account, and show you the result posted in QuickBooks.

See a Demo All QuickBooks features