Creator accountants: What's the hardest part of working with creator finances?
I'm a Chartered Accountant who's spent the past few months working almost exclusively with creator businesses (YouTubers, influencers, newsletter operators, educators, podcasters, digital product sellers, etc.).
To me, one key issue seems to be that financial information is fragmented across multiple platforms (i.e., YouTube, TikTok, Patreon, Shopify, Stripe, PayPal, affiliate networks, sponsorships, bank accounts, and other sources). Unlike regular earners who earn predictably on a monthly or biweekly basis, the unique earning patterns of creators presents a dilemma.
This is because before I could even begin to prepare accounts, advise on tax, or gain a holistic understanding of their business performance, I found that I was spending a great deal of time pulling the cross platform information together into a "one stop shop" effectively.
I'm curious whether others here have found the same thing.
If you're an accountant who works with creators (or are one), where do you spend the most time?
I'm writing a research paper and I've so far had conversations with creators, accountants, and talent managers. However, I'm much more interested in validating whether this resonates with people outside my own experience. Open to hearing all thoughts. Thanks!