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Curious about a career as a production accountant? I mean, why wouldn’t you be? Since you’re reading this, you’re already primed to make a splash. Of course, it’s important to understand this financial gig and gain the essential skills you’ll need for a successful career. Fortunately, we can help. Consider this refresher the first step toward your new networking process.
What skills are needed for this role?
These roles demand a unique set of skills for navigating financial transactions in the entertainment industry. Attention to detail, organizational aptitude, professionalism, and patience are crucial. Adaptability to new digital processes, a commitment to continuous learning, and a collaborative team spirit are essential. The role requires a versatile skill set for seamless financial operations, from distributing million-dollar checks to handling routine tasks.
What are AP clerks and payroll clerks?
Accounts payable (AP) clerks and payroll clerks are both entry level jobs that each play a crucial role within the accounting department. Tasked with various responsibilities, these duties encompass sorting mail and emails, handling inquiries from vendors and crew members, and running errands for the department. In addition, they contribute to the smooth functioning of the accounting team by performing administrative duties such as filing, whether it be digital files or paper files, and assisting with miscellaneous tasks. This role serves as a foundational step in understanding the intricacies of accounting processes within the industry.
What are some key nuances of these roles?
Positioned within the accounting department, this role provides a unique vantage point, allowing individuals to witness the flow of funds across various departments. Within the accounting clerk role, there are distinct paths to follow—one can delve into the accounts payable (AP) track, handling vendor payments, purchase orders (POs), and credit card transactions. Alternatively, the payroll track opens doors to understanding the intricacies of compensating crew and talent under different guilds and unions in the industry.
What is a payroll accountant?
A payroll accountant plays a crucial role in managing and processing cast and crew payroll across the production life cycle, including prep, production, and postproduction, depending on the studio or production company. The weekly payroll process is deadline-driven, requiring a sense of urgency and attention to detail to ensure timely and accurate payments to crew members. The payroll accountant oversees multiple payroll companies that handle different aspects of production payroll, such as ATL, BTL, and SAG payments. They manage digital tools for payroll processing, review payroll edits, and assist crew in onboarding, timecard entry, and accessing digital paystubs and tax information. Serving as a liaison between payroll companies and crew members, the payroll accountant navigates complexities, including union rules for BTL crew members, different pay structures, and considerations for various production scenarios. Their expertise is essential in addressing meal penalties, overtime, and other variables to ensure accurate and compliant payroll processing in both union and nonunion productions.
What is a payroll assistant?
A payroll assistant plays a vital role in supporting the payroll accountant by aiding in the processing of weekly payroll. This includes handling background payroll assignments, which may involve coordination with secondary payroll providers such as CAPS. Additionally, the payroll assistant helps crew members and department heads with tasks related to start work and weekly timecards, contributing to the smooth and accurate execution of payroll processes within the organization.
What is a second assistant accountant?
A second assistant accountant (2nd) plays a pivotal role in the production accounting team, responsible for crucial tasks that ensure the financial operations of a project run smoothly. This includes entering purchase orders and invoices into accounting software, executing payments through various methods like paper checks, ACH, or wire transfers, and meticulously maintaining digital or paper records of transactions. The role demands a keen attention to detail, organizational prowess, and a conscientious approach to accurately record expenditure. Additionally, a second assistant accountant needs to demonstrate professionalism, patience, and discretion, especially when dealing with sensitive financial information. Their responsibilities extend to verifying expenses, routing POs and invoices for approvals, and staying aware of film office or Department of Revenue requirements based on shooting location and studio / production policy.
What is a first assistant accountant?
A first assistant accountant (1st) assumes a leadership role in the production accounting team, overseeing and managing the department, including second assistants and AP Clerks. Their primary responsibilities involve supervising the accounts payable workflow, encompassing tasks such as handling purchase orders, credit card or P-card payments, and managing petty cash, including foreign currency if required. Effective communication with other department heads is crucial for aligning expectations across the production. The role demands a comprehensive skill set, including knowledge of accounting software like PSL+, familiarity with payroll company digital products, and proficiency in using various digital systems like Adobe, Dropbox, DocuSign, among others. First assistant accountants need to understand studio / production company expectations upon completion of production, be well-versed in film office or Department of Revenue expenditure qualifications for tax incentive programs and may also engage in some second assistant duties. This includes auditing purchases, flagging expenses for tax credit compliance, routing paperwork, and ensuring adherence to studio rules in each department's spending. This multifaceted position requires a skill set encompassing financial acumen, diligence, and an understanding of industry-specific regulations.
What is a production accountant or financial controller?
A production accountant is a vital professional in the film industry, especially for large-budget features and series exceeding 100 million dollars. This role involves managing budgets, overseeing hot costs (daily / weekly expense reports), and collaborating with producers to plan and estimate costs amid changing production scenarios. They play a key advisory role, informing producers and studio finance executives on expenditure and budget variations. If a production is big enough, likely in the $100 million+ tier, a production might have a financial controller who is more focused on the overall planning and coordination of the physical production. Understanding studio / production company rules, setting up protocols, and ensuring their application across all production departments are integral aspects of the controller's responsibilities. Moreover, a comprehensive grasp of tax incentive applications and rules across different jurisdictions is crucial, with oversight on compliance and collaboration with studios to meet expectations. For smaller projects, the production accountant may assume both controller and department oversight duties. Typically, professionals in these roles have advanced through various lower positions, gaining awareness of first assistant, second assistant, and clerk duties throughout their careers.
What are some tips for getting started as a production accountant?
To embark on a career as a production accountant in the film industry, start by acquiring the necessary skills and training. You can also explore the California Film Commission's Accounting Program (CA Course) for comprehensive training. Go deeper by exploring the training materials on Cast & Crew's learning platform and enhance your knowledge, specifically with the Payroll Accountant Learning Path. Our blogs offer valuable insights to help you build a great résumé, develop essential skills, and access career resources. Also, many studios offer intern programs, often in financial administration roles, as a gateway into the entertainment industry. Following a company's LinkedIn page and other social media outlets helps stay informed about such opportunities. Finally, be sure to join The PAC, Cast & Crew’s production accountant community on Facebook, to connect with professionals, participate in events, and stay updated on industry trends.
We’re here to help
Ready to jump in and take the first step towards a rewarding career in film accounting? We can help. To be considered for future work opportunities, please join the Accountant Database by emailing your résumé to ProductionAccountingResumes@castandcrew.com.
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