Creative Pros: How to Track Project-Based Income

Dec 20

Creative entrepreneurs are experts at delivering stunning results—branding, photography, design, video, content. But when it comes to tracking income? That part often feels… less inspiring.

If your revenue depends on project-based work, you already know it can be hard to stay on top of your finances. Income comes in waves, scope changes happen mid-project, and sometimes invoices go unpaid longer than they should.

At DBR Bookkeeping, we help creative professionals organize their financials with systems built for the real way they do business.

Why Project-Based Income Gets Messy

Here are common financial challenges we see in creative industries:

Deposits collected upfront, but expenses spread across months
Projects spanning multiple payment dates
Confusing tracking of what’s earned vs. what’s been paid
Mixing business and personal expenses
No way to track which projects are profitable (or not)

Without a clear system, it’s easy to lose track—especially as your creative business grows beyond solo projects.

How to Track Project-Based Income Effectively

Whether you're in Northwest Arkansas or working virtually, here’s how to get your income tracking dialed in:

1. Use Invoicing Tools Inside QuickBooks Online

Create separate invoices for each project and use line items to reflect deliverables and milestones.

2. Match Payments to Invoices

Avoid generic deposits in your books. Match actual payments to their corresponding invoices to track what’s outstanding.

3. Categorize Project Expenses

Use Tags or Classes in QBO to assign costs and income to each project so you can analyze profitability.

4. Track Time and Deliverables

If you're billing hourly or by deliverables, use integrated time-tracking tools that sync with QuickBooks Online.

5. Run Monthly Reports

Profit & loss reports by client or project help you understand what work is most profitable—and where to focus.

Why Creatives Need Bookkeeping Help

Creatives often say, “I’m not a numbers person.” But the truth is: you’re a business owner first.

And business owners need financial clarity.

At DBR Bookkeeping, we work with creatives in Bentonville, Fayetteville, Springdale, and across the country to:

Set up QuickBooks Online correctly
Track income per project
Clean up messy books before tax season
Build systems that grow with their business

Whether you’re just starting or scaling to $500K+ in revenue, you don’t have to DIY your books anymore.

FAQ: Project-Based Bookkeeping for Creatives

Do I need QuickBooks Online if I use Stripe, Honeybook, or Square?
Yes. Those tools handle payment, but QBO gives you full visibility of income, expenses, and tax reporting.

What’s the biggest mistake creatives make with income tracking?
Lumping everything together instead of separating income by project or client.

How do I know if a project is profitable?
Track income and related expenses per project using tags or class tracking in QBO, then run a profit report.

Is it worth hiring a bookkeeper for a creative business?
If you’re making over $75K/year or managing multiple projects—it’s not just worth it, it’s essential.

Ready to Organize Your Creative Business Finances?

📅 Book a free call with Dr. Bryan Raya and let’s get your project income clean, clear, and stress-free.

Let’s start Doing Business Right!

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Bryan Raya