In last week’s blog post (What NOT to Do to Find a Reliable Accountant: A Small Business Guide – PART TWO – 28 July, 2025), we explored what NOT to do and what to avoid when selecting a business accountant or bookkeeper. In this third and last in our series, we look at a more specific industry example of things to look for and what to avoid, as it’s also important to tailor your accountant search to your particular business or industry. Although there are specific, unique differences in some industries to consider, many of the same principles apply and can be adjusted for your business. For example, the running of an event planning business, production company, or meeting management firm involves a having financial accuracy. From managing constantly changing budgets to tracking vendor payments and handling seasonal cash flow, your accountant or bookkeeper plays a crucial role in helping your business succeed behind the scenes.
As an added bonus, download the attachment below in this post to get your FREE checklist for hiring the right financial manager and a chart to compare candidates! You can easily adjust the list to apply to your industry as well.
To show you what we mean, here’s what to look for when choosing a financial professional who truly understands the unique demands of the meetings and events industry:
✅ 1. Industry-Specific Experience
The meetings and events industry has unique financial patterns — deposits, retainers, venue fees, vendor contracts, and post-event reconciliations. Your accountant or bookkeeper should know how to manage these complex parts.
Look for:
- Experience with event production companies, DMCs (destination management companies), or corporate meeting planners.
- Familiarity with budgeting for multi-phase projects and large-scale events.
- Understanding of pre-event and post-event expense tracking and how to prepare it for reporting.
Lookout for:
- Someone who is unfamiliar with budgeting for the special needs and unexpected emergencies due to last-minute changes and needs.
- Someone who is not experienced with timeliness and timing of payments – both paying and receiving.
Why it matters: Someone who knows how events work can flag issues early and make sure of clean books before and after every event. That person should be familiar with sudden and unexpected expenses and how to be prepared to handle and account for them. Understanding how contracts can dictate when and how payments are made is crucial – it’s not always at the same times.
✅ 2. Familiarity with Seasonal & Project-Based Income
Cash flow in this industry isn’t always consistent. A savvy accountant will help you budget across seasons and project timelines.
Look for:
- Experience with businesses that have seasonal or cyclical revenue.
- Insight into managing deposits, milestone payments, and vendor prepayments.
Lookout for:
- Someone who is unfamiliar with the “hills and valleys” of cash flow, and how to keep the business on track to meet financial stability and growth goals during leaner times.
Why it matters: Strategic cash flow management is critical for keeping your operations running during low-revenue months and not to over-spend during times of higher revenue.
✅ 3. Expertise in Vendor and Client Reconciliation
Every event involves dozens of vendors, subcontractors, and client billing components. Your financial pro should track all of it with accuracy.
Look for:
- Skill in reconciling vendor quotes, invoices, and actual costs.
- Experience in creating client-facing budgets and reconciliations.
- Ability to note overspending and suggest real-time corrections.
Lookout for:
- Someone who does not understand your relationships with certain vendors and subcontractors, and how to work and be flexible with certain people and companies in consideration of those relationships.
Why it matters: Precision prevents lost revenue, unpaid bills, and budget overruns that can hurt your reputation. A well-established and reliable vendor that you have built a trusted relationship with for years might be given a little more “slack” if they’re late with a payment than one that you’ve never delt with before. An accountant should be made familiar with those relationships and work with them accordingly.
✅ 4. Proficiency in Event-Friendly Software
The right accountant should be comfortable using (or integrating with) the tools you already rely on to manage events and finances.
Look for:
- Experience with platforms like QuickBooks, Xero, or Wave.
- Familiarity with event-specific tools like HoneyBook, Monday.com, or Cvent.
- Knowledge of invoice and payment tools (Square, Stripe, Bill.com, etc.).
Lookout for:
- Someone who is limited in their knowledge and skills of working with more than one or two types of industry-specific software and is unwilling or unable to adapt.
Why it matters: Smooth integration between your planning and financial systems saves time and reduces errors. Also, the more skilled and familiar they are and stay abreast of new or different software tailored to your industry, the better they may recommend possible options for best managing your business’ finances.
✅ 5. Clear, Client-Ready Communication
You often need to present financial updates to clients, stakeholders, or sponsors. Your accountant should be able to present financial data in understandable language.
Look for:
- Ability to produce clean, easy-to-share event budget summaries
- Willingness to support you with tax-ready financials for freelance crew or independent contractors
- Proactive reporting on trends and suggested areas for improvement
Lookout for:
- Someone who is strictly a “numbers” person and isn’t familiar with presenting financial information in clear, easy-to-understand layman’s terms.
Why it matters: Strong communication ensures transparency with your clients and helps you stay ahead of potential issues. Being able to show your clients on-going financial reporting in easy-to-understand language will really help you show that you know what’s going on with their investments will increase their trust in you. If your accountant can only provide you with the numbers and not clearly what they mean for your clients, you won’t be able to prove how you helped with their R.O.I. (return on investment). This is especially crucial in an industry with constant demands for new, different and more impressive meetings and events with ever-decreasing budgets. Your accountant should clearly understand that.
✅ 6. Support for Compliance and Contractor Management
Whether you work with freelancers, contractors, or full-time staff, compliance and reporting are key—especially during tax season.
Look for:
- Experience managing 1099s, W-9s, and contractor payments.
- Familiarity with labor regulations for on-site event staff.
- Knowledge of state-specific sales tax or service tax rules (especially for rentals and ticketed events).
Lookout for:
- Someone who is not keenly aware of the differences and requirements of payments to various types of people and vendors your business works with.
Why it matters: Mishandling contractor payments or compliance can lead to penalties and legal headaches. Your accountant needs to know these differences and how to address them.
✅ 7. Strategic Business Insight
A great accountant or bookkeeper does more than track expenses—they help you plan, grow, and avoid financial problems.
Look for:
- The ability to forecast profit margins across multiple events or programs which can greatly vary.
- Experience advising on pricing structures and profit analysis.
- Insight into scaling your team, managing overhead, or opening new markets.
Lookout for:
- Someone who is only knowledgeable, capable and/or only interested in monitoring and recording the income and expenses, and not the overall, on-going financial picture of your events business.
Why it matters: Their guidance helps you make informed decisions that drive long-term growth for your business.
Final Thoughts
In the fast-paced, detail-heavy world of meetings and events, a strong financial partner is just as important as your best vendor or venue contact. In this week’s blog, although we used the meetings and events management industry as an example, many of the same ideas apply to other industries or can be easily adapted. Look for a bookkeeper or accountant who understands your industry, speaks your language, and supports both your creative vision and business strategy.
The right choice won’t just keep your books balanced—they’ll help your business shine, season after season.
✅ Free: Hiring Checklist for Hiring Financial Managers & Accountants
Here is your FREE copy of our checklist. It is geared for use by meetings and events professionals, but it is easily applicable and can be tailored for your business.
It includes:
- Key interview questions
- Red flags to watch for
- Role clarification tips
- Comparison chart for candidates
So, what do you look for when choosing an accountant or bookkeeper specific to your business or industry? Please share your insights and what you do to make sure your choice is the right one for you. Please “LIKE” this post and subscribe to our blog (spam-free, we promise!). We’d love to hear from you!
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