Bookkeeping for Photographers – Quick Start Guide

Bookkeeping might not be the most exciting part of running a photography business, but it’s one of the most important.

Whether you love diving into numbers or dread anything finance-related, having good bookkeeping practices in place is essential to the success and longevity of your photography business.

While the tendency to hate bookkeeping is natural, we always remind ourselves…if we do it well, we get to do things like travel more and hang out with our families, and that’s what we all want at the end of the day…right?!?

In this post, we’ll explore what bookkeeping is, how it benefits your photography business, and different ways to handle your bookkeeping needs.

What Is Bookkeeping?

At its core, bookkeeping is the practice of tracking all the money flowing in and out of your business.

That means keeping records of your income (like client payments and sales) and expenses (such as equipment costs, subscriptions, and travel).

It’s that easy…at least in writing!

Good bookkeeping practices provide clarity on how your business is performing financially and will help you stay organized in case you ever face an audit from the IRS (International Revenue Service in the USA).

Keep in mind, bookkeeping is not just about compliance so you avoid inadvertently breaking laws, not paying enough in taxes, etc… but instead should be viewed as highly valuable to you as a photo business owner.

When thought of like that — it’s about maintaining visibility into your business so you can make informed decisions, plan for growth (or periods of slowness), and avoid surprises down the road.

Bookkeeping is cool right?

Types of Expenses Photographers Should Track

Like any business, photographers have a wide range of expenses that need to be tracked.

These can be grouped into various categories to give you better insight into where your money is going.

Some of the key expenses you should be tracking include:

• Equipment and Supplies: Cameras, lenses, lighting, memory cards, and office supplies.
• Marketing Costs: Website hosting, social media ads, printed materials, and online marketing tools.
• Professional Services: Fees for accountants, attorneys, or any outsourced help like editors or virtual assistants.
• Subscriptions: Payments for editing software, CRM systems, or cloud storage services.
• Travel: Any expenses related to client shoots, including mileage, accommodations, and meals.
• Contractors or Assistants: If you hire second shooters, editors, or other freelancers, these payments should be logged.
• Education Expenses: If you purchase education (like our business courses in The Photography Business Academy!), these costs are expensible and can reduce your taxes owed.

Keeping track of these categories helps you manage cash flow, stay on top of your finances, and make better decisions for your business.

How to Do Bookkeeping for Your Photography Business

There are several ways you can manage bookkeeping, ranging from DIY approaches to outsourcing the work.

Let’s break down the options you have!

Manual Bookkeeping with Spreadsheets

If you prefer to keep things simple, you can manually track your income and expenses in a spreadsheet (or go even more old school with pen-and-paper).

This is a low-cost option (read: free), but it can become tedious and time-consuming as your business grows. The room for error is also very high here!

When I started my photography business, this is what I decided to do – and it honestly worked for me just fine in the beginning. As someone newer, the amount of transactions I had to record was pretty minimal, so keeping tabs on things was not particularly hard. But – it’s important to note, I quickly grew out of this!

Online Bookkeeping Software

Many photographers choose to use online accounting software to streamline bookkeeping.

Tools like QuickBooks, Wave, and FreshBooks offer features like automated expense tracking, invoicing, and even payroll management. These platforms are user-friendly and can save you time while ensuring accuracy.

As a general guideline, I’d recommend any photography business to use an online software to help them with bookkeeping. If costs are a concern, there are even some free (like – truly free) options available for basic sales and expense tracking.

The nicest things about software options in my opinion include the following:

• Can automate classification of common transactions. For example, I automate all my sales to be classified as “Sales” in my software, making it so I don’t have to worry about spending time manually classifying these.
• Sync your bank account (and other accounts). I am able to automatically pull in a list of transactions happening in my bank account, credit cards, and other financial accounts into my software. With this happening automatically, I have a low risk of missing something (and it not being accounted for). As a result, all I need to do is go in, review the transactions and classify them – then my bookkeeping is done!
• Online books and reports can easily be shared with an accountant. You can download things out and send via email, or allow the agency direct access to your account.

Outsource to a Bookkeeping Company

If bookkeeping is a task you’d rather not manage yourself, outsourcing to a professional is also an option.

A bookkeeper can handle everything from organizing your expenses to preparing financial statements. Plus, they’ll ensure your records are always ready for tax season.

In the next section, we’ll share some resources on recommended bookkeeping companies you can turn to for help!

No matter which method you choose, having solid bookkeeping processes in place will benefit your business in the long run.

Recommended Bookkeeping Companies and Accountants for Photographers

If you’re considering outsourcing, we’ve compiled a list of our recommended bookkeeping companies and accountants (who also can do bookkeeping) that specialize in helping photographers.

One of our favorites to help with bookkeeping photographers is Collective. They can handle everything you don’t want to deal with when you’re self-employed: LLC and S Corp formation, payroll, monthly bookkeeping, quarterly tax estimates, annual tax filing and more. Their members save an average of $10,000 a year in taxes*.

Collective works with over 1,000 photographers already, so they understand the unique needs and pain points of the industry, and they’re offering Shoot and Thrive’s network their first month free ($349 value).

Use code THRIVE at checkout.

Learn more about Collective.

*Based on the average 2022 tax savings of active Collective users with an S Corp tax election for the 2022 tax year.

With the right professionals in your corner that understand the unique needs of creative businesses like ours, they can help you stay on top of your finances with ease!

Bookkeeping for Photographers – Go Even More in Depth!

In Shoot and Thrive’s Financial Management Course for Photographers, we go in more detail talking about bookkeeping (and practically anything else you can imagine that relates to money management) and include special walkthrough videos to help you set up and use bookkeeping software more effectively.

Christian Romans

Chris is a business strategist at Shoot and Thrive and co‑owner of Hand and Arrow Photography alongside his wife. With over a decade of professional shooting experience (and a passion for photography since high school), he helps creatives grow through smart websites & SEO, blogging, branding, and sales strategies. When he’s not behind the lens or refining a marketing funnel, you’ll find him playing guitar, skateboarding, or planning his next adventure—his favorite so far was campervanning around Iceland. Chris holds degrees in Psychology and Philosophy, which inform his human‑centered approach to both art and business.

www.shootandthrive.com