Taking the Stress out of Accounting at Select Music

Who: Select Music
Collaborators since: 2013
Project scope: Tax & Accounting

Project scope: Tax & Accounting

Select Music has been working with Generate to bring stability to its company structure, and consistency to its finances.

Owned by Stephen Wade, Select Music is the largest independent music agency in Australia with over 100 artists on its books – representing the likes of RÜFÜS, Boy & Bear, Passenger and The Preatures while its own touring arm has promoted hundreds of international artists.

Stephen first met Ben Fletcher, Managing Director at Generate, through MusicNSW. “I always found Ben really crystal clear and easy to understand when he was explaining finances for that organisation – I thought, ‘This is the kind of person I want doing my accounting’,” he says.

Process

Stephen now catches up with Ben whenever he needs financial advice: “I’ll call and say, ‘I want to look at our financial strategies and tax options. Would a certain tack be beneficial?”

He prefers working with accountants who understand that creative businesses are a little different to more traditional business practice.

“I think accountants need to understand the type of person you are. Creative people work a little outside the square, and Generate is really understanding of this.”

“I’ve had accountants who treat their clients as a number, and their advice is rushed. It’s their job to advise me on an appropriate strategy, not tell me what I want to hear – that’s one of the things I respect most at Generate, they tell me exactly how it is,” says Stephen.

Value

Select Music is one of several businesses that Stephen owns.

“Having multiple businesses can be a bit convoluted. Ben has helped to simplify things. Previously, I had accountants whose attention to detail didn’t grow with my business. Subsequently I got some really confusing advice at times, and ideas that weren’t explained,” he says.

“In a growing business, your accountant is the person you go to for the most important advice in your life. Ben brought stability to our company structure by providing good, concise advice. Generate has also brought clarity to our paperwork, which takes the stress out of accounting.”


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