6 Common Bookkeeping Mistakes Event Planners Should Avoid
Event planners are masters of organization-except when it comes to their books. With so many moving parts across different clients, vendors, and events, it’s easy to lose track of financial details that really matter. Here are six of the most common bookkeeping mistakes event professionals make-and how to avoid them to keep your business profitable and stress-free.
Download Our Free Brochure →Industry-Specific Section: Top Bookkeeping Mistakes in the Event Industry
- Not Tracking Revenue by Event or Project
If you can’t separate revenue and expenses by event, you’ll never know which types of events or clients are most profitable-or which ones are costing you money. - Failing to Track Deposits and Payment Milestones
Many planners take deposits upfront and receive final payments later. Without clear tracking, it’s easy to forget who paid, how much, and when. - Mixing Business and Personal Spending
Grabbing flowers for an event while grocery shopping? Using personal credit for vendor payments? This makes tax filing a nightmare and hides true profitability. - Ignoring Vendor Payment Due Dates
Missing payment deadlines damages vendor relationships and can even jeopardize event delivery. A good bookkeeping system keeps you on track and timely. - Overlooking Reimbursable Expenses
Client reimbursements for travel, materials, or rentals must be tracked separately-otherwise they may be mistakenly reported as taxable income. - Waiting Until Tax Season to Reconcile
By then, it’s too late to fix errors, reclaim lost deductions, or analyze performance. Monthly bookkeeping keeps your business sharp and scalable.
Test Case: A Planner Caught $7K in Missed Reimbursements
An event producer in Florida managed luxury weddings but didn’t separate reimbursable expenses from revenue. After partnering with RemoteBooksOnline, we categorized her past 12 months of spending and uncovered $7,000 in out-of-pocket expenses that should’ve been billed back to clients. We updated her invoicing structure and automated her monthly financial reports moving forward.
State Tax Note: Know When Your Services Trigger Sales Tax
Some states, including Texas, California, and New York, require event planners to collect sales tax when their services include rentals, decor, or packaged goods. If you bundle floral arrangements, invitations, or party favors with planning services, a portion of your income may be taxable. We ensure your books track taxable vs. non-taxable income correctly.
Ready to avoid expensive errors and get total visibility into your event business finances? RemoteBooksOnline gives you monthly clarity, vendor tracking, and financial control-without the overwhelm.
If you’re ready to organize your business finances as tightly as you organize your events, check out our bookkeeping for event planners. We work with pros across Florida, Texas, New York, California, and Nevada.
We also support planners in 33139, 90210, 10018, 89109, and 75201.
FAQs
Can I see which clients or events are my most profitable?
Yes. We can organize your books by project so you get clear profitability reports per event.
What about client deposits that apply to future services?
Download Our Free Brochure →We track those separately as liabilities until earned—so your income reports stay accurate.
I use Zelle, Square, and bank transfers—can you track all of them?
Yes. We reconcile all payment platforms and match deposits to invoices or events.
Do I need to issue 1099s to contractors like florists or DJs?
If you pay them $600+ in a year, yes. We’ll help track that and prepare your 1099 list.
What if my books are a mess from earlier this year?
No problem. We specialize in cleanup bookkeeping for event professionals.
Avoid these financial pitfalls and run a smoother, smarter event business.
RemoteBooksOnline offers bookkeeping built for event planners-organized, accurate, and fully off your plate.
