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Bookkeeping for Gaming and Esports Industry
Hire Remote Bookkeeper, Accountant , Tax return Preparer or Admin Person
Monthly Bookkeeping, Payroll, Financial Statements or Tax returns for Business Owners
Monthly Bookkeeping, Payroll, Financial Statements or Tax returns for Business Owners
Hire Remote Team
Business Tax return filing by Certified
CPA / Enrolled Agent
(Starts at $350)
QuickBooks And Xero Certified Experts
50% Reduction In Costs
Bookkeeping and Accounting services for Gaming and Esports Industry
The Gaming and Esports Industry has evolved into a dynamic and influential sector, captivating millions worldwide with interactive entertainment and competitive play. Spanning from casual mobile games to immersive virtual reality experiences, and from local tournaments to global esports leagues, this industry thrives on innovation and engagement. In the Gaming and Esports Industry, bookkeeping and accounting services are vital for managing revenue streams, sponsorships, and operational costs. Accurate financial oversight supports budgeting, compliance, and strategic growth, ensuring the industry’s dynamic businesses can grow and expand. Meru Accounting ensures compliance with industry regulations, optimises revenue tracking, and provides insights for strategic decision-making, allowing developers and organizations to focus on growth and innovation.
Core Aspects of Gaming and Esports Industry
1.Revenue Management
- Bookkeeping tracks various revenue sources, including game sales, in-game purchases, subscription fees, and advertising revenues. Accurate recording ensures all income is captured and categorized correctly.
2.Expense Tracking
- Detailed recording of operational expenses in the gaming and esports industry such as game development costs, marketing, salaries, and event expenses helps manage budgets and control spending.
3.Sponsorships and Partnerships
- Accounting services for the gaming and esports industry manages financial transactions related to sponsorship deals and partnerships. This includes tracking payments, ensuring compliance with contract terms, and handling financial reporting for partners.
4.Payroll Processing
- Managing payroll for developers, esports athletes, and support staff involves calculating salaries, tax withholdings, and benefits. Accurate payroll processing ensures timely and correct compensation.
5.Budgeting and Forecasting
- Creating and monitoring budgets and financial forecasts helps the gaming and esports industry plan for future growth, allocate resources effectively, and make strategic decisions.
6.Tax Compliance
- Ensuring compliance with tax regulations, preparing tax returns, and managing deductions related to gaming and esports industry and activities are crucial to avoid penalties and maximise tax benefits.
Benefits of Bookkeeping and Accounting services for Gaming and Esports Industry
- Enhanced Financial Visibility: Accurate bookkeeping provided in the gaming and esports industry allows clear insights into revenue, expenses, and profitability, helping businesses understand their financial status and make informed decisions.
- Effective Budget Management: Detailed financial records enable precise budgeting, helping companies allocate resources efficiently and control costs related to gaming and esports industry development, marketing, and events.
- Revenue Optimization: Tracking various revenue streams, including game sales, in-game purchases, and sponsorships, ensures all income is accounted for and helps identify opportunities for growth and optimization.
- Streamlined Payroll Processing: Managing payroll for developers, esports athletes, and support staff ensures timely and accurate compensation, compliance with tax regulations, and smooth operations.
- Event Financial Management: In the gaming and esports industry there are many sports events including tournaments and gaming events, bookkeeping tracks ticket sales, prize distributions, and event expenses, ensuring transparent and accurate financial management.
- Insightful Financial Analysis: Regular analysis of financial data helps identify trends, evaluate performance, and make data-driven decisions, enhancing overall business strategy and operational efficiency of the gaming and esports industry.
- Attractive to Investors: Well-maintained financial records and reports build credibility and attract investors or sponsors by demonstrating financial health and business viability.
- Efficient Software Integration: Managing industry-specific accounting software ensures efficient management of financial activities, integration with other systems, and streamlined operations of the gaming and esports industry.
What is the need of implementing bookkeeping and accounting in Gaming and Esports Industry?
Complex Revenue Streams
The gaming and esports industry generates diverse revenue, including game sales, in-game purchases, subscriptions, and sponsorships.
Expense Management
Gaming and esports industry and companies incur numerous costs, such as game development, marketing, salaries, and event expenses. Accurate accounting helps manage these expenses, ensuring budget adherence and financial control.
Cash Flow Management
Proper accounting practices in the gaming and esports industry helps to monitor cash flow, ensuring that the business can meet its financial obligations, manage operational costs, and invest in growth opportunities.
Financial Reporting and Transparency
Regular financial reports provide a clear picture of the company’s financial health, aiding in decision-making, strategic planning, and maintaining transparency with stakeholders and investors.
Compliance with Regulations
The gaming and esports industry faces specific regulatory requirements and tax obligations. Accurate bookkeeping ensures compliance with these regulations, reducing the risk of legal issues and penalties.
Financial Due Diligence for Mergers and Acquisitions
Providing financial analysis and due diligence support for mergers, acquisitions, or partnerships, ensuring a thorough evaluation of financial health and risks.
Why Choose Meru Accounting?
- Industry-Specific Expertise: Meru Accounting specializes in the gaming and esports industry, offering tailored solutions that address the unique financial challenges and opportunities within this dynamic sector.
- Comprehensive Service Offering: With a broad range of services, including revenue management, expense tracking, payroll processing, and tax planning, Meru Accounting provides end-to-end support for all financial needs of the gaming and esports industry.
- Customized Solutions: Understanding the distinct needs of your business, Meru Accounting delivers personalized financial strategies and solutions for the gaming and esports industry that align with your goals and operational requirements.
- Advanced Technology: Utilizing innovative accounting software and tools, Meru Accounting ensures efficient, accurate, and modern financial management practices that enhance operational efficiency.
- Proactive Financial Management: Meru Accounting goes beyond routine bookkeeping by offering proactive insights and strategic advice, helping you make informed decisions and capitalize on growth opportunities.
- Regulatory Compliance: Expertise in industry regulations and tax laws ensures your business remains compliant with all financial and legal requirements, minimizing risks and avoiding potential penalties.
- Reliable Support: A dedicated team of experienced professionals offers dependable support and expert advice, ensuring your financial operations run smoothly and effectively.
Services offered by Meru Accounting in the Gaming and Esports Industry
Cash Flow Management
- Monitoring and managing cash flow to ensure that the gaming and esports industry and businesses maintains sufficient liquidity for daily operations and future investments.
Revenue Recognition
- Implementing accounting principles for recognizing revenue from various sources, including subscriptions and sponsorships, in accordance with industry standards.
Cost Analysis and Control
- Identifying and analyzing cost drivers to help manage and control expenses, ensuring efficient use of resources and maximizing profitability.
Internal Controls and Fraud Prevention
- Establishing and maintaining internal controls to prevent fraud, errors, and financial mismanagement, safeguarding the organization’s assets.
Investor Relations Management
- Assisting with financial reporting and communications to investors, providing transparency and fostering confidence in the company’s financial health.
Performance Metrics Tracking
- Developing and tracking key performance indicators (KPIs) relevant to the gaming and esports industry, such as user acquisition costs, lifetime value of players, and engagement metrics.
Game Financial Performance Analysis
- Evaluating the financial performance of individual games or game franchises, including profitability analysis and cost-benefit assessments.
Subscription and Membership Management
- Handling the accounting for subscription-based models, including billing, renewals, and revenue recognition, ensuring accurate and timely financial reporting.
Royalty and Licensing Management
- Managing financial aspects of royalties and licensing agreements, including tracking payments, calculating royalties, and ensuring compliance with contractual terms.
Cross-Border Transactions and Currency Management
- Handling international transactions and managing foreign currency exchange, ensuring accurate accounting and financial reporting in a global market.
Conclusion
Selecting Meru Accounting for your Gaming and Esports business ensures a partnership with a specialized financial expert dedicated to addressing the unique challenges of the industry. Our detailed services, tailored solutions, and proactive approach offer essential support for managing complex revenue streams, controlling costs, and ensuring regulatory compliance. Meru Accounting will empower you to make informed decisions and strategically navigate growth opportunities.
Hiring Virtual Accountant With Meru Accounting
Meru Accounting provides world-class services that cater to all the needs of cloud accounting and bookkeeping of your business.
We work on the best accounting software like Xero and Quickbooks, as well as add-ons that will make sure all your work is up-to-date.
Help you with switching from your traditional software to Xero and Quickbooks.
We also manage VAT, BAS, Sales Tax and Indirect taxes for you so you are always ready at the end of the financial year.
When you choose to outsource your accounting work with us, it benefits you in the following ways:
- 1. Cost-saving
- 2. Access to skilled and experienced professionals
- 3. Better management of books of accounts
- 4. Decreased chances of errors
- 5. Improve business efficiency
- 6. De-burdens in-office employee’s dependency
- 7. Better turnaround time
We work on virtual technologies like Team Viewer, Virtual Private Network (VPN) to share and access data from your system.
You have to share your accounting software login details.
Through that, we complete all of your work and update it on the cloud, so you can have access to your data from anywhere and at any time.
Software is not a barrier for us. Due to our strong and professional accounting knowledge, we can prepare your books in almost any of the accounting software.
We provide our bookkeeping services at the rate of US $10 per hour. So, you only need to pay for the amount of time actual work is done.
We take certain preventive measures to secure your data, like:
- Cyberoam Firewall to prevent any kind of foreign threat.
- Dual-step authentication
- Implement anti-virus
- Limit user access so that login details are with a few people.
Meru Accounting work on some of the best accounting software’s like:
- Xero
- Quickbooks
- Netsuite
- Saasu
- Wave
- Odoo
Along with that, we also work with many add-ons like Workflow Max, Receipt Bank, Slack, TradeGecko etc., to extend your software’s capacity and improved work experience.
To book for trial, call us on our numbers or Please fill out the form here.
Our Work Information
We have combined team of Professionals. Seniors are generally Certified Chartered Accountants. Junior Bookkeepers are having Qualifications like Bachelors of Commerce, Masters of Commerce, Masters in Business Administration in the subject of Accounts and Finance, Intermediate level Qualification of Chartered Accountancy, etc.
For information visit our work methodology page.
We prepare a checklist of information required for bookkeeping and send you at timely intervals so as to ensure that we can do bookkeeping faster.
We can provide to you once we move ahead in our interview.
We serve clients on MYOB and have expertise working in Essentials, Account Rights Plus, etc.
Yes, We are presently processing Payroll for Number of clients in US , UK and Australia and take care of complete payroll activities.
Goods and Service tax (GST) is levied on sales of all the goods and services in Australia. GST is generally chargeable at 10% of value of sales.
Business Activity Statement is a predefined form to be submitted to the Australian Tax office by all the business persons in order to report on their all the tax obligations during the period covered.
BAS is generally required to be filed quarterly by various businesses.
Individual Business Owners
Yes, Owner of the business can prepare sign and lodge the tax return on his own. Its not mandatory that the Tax return needs to be signed by an EA or CPA.
No , its not mandatory that it should be prepared by only CPA or EA. It can be prepared by anyone who has PTIN.
We have Enrolled Agent who has the Authority to sign the documents for our clients after completing the through professional check.
Meru Accounting has its operational centre in India and hence the prices are quite less as compared to US based CPA’s and Enrolled Agents.
Meru Accounting has a team of Tax experts. Each Tax expert prepares around 300-400 Tax returns every year for various CPA’s in United States and Individual Businesses like yours. Due to this vast Experience and Robust Quality Check processes in place we can ensure you about correct Tax planning for your firm.
Our Young and Dedicated Team
