The production accountant is the financial heart of any professional film or television set. While the producers and line producer create the budget, the production accountant is responsible for managing every dollar that flows through the production office.
Core Responsibilities of the Production Accountant
The role of the production accountant is more than just tracking expenses; they are a critical project manager who ensures the overall financial health of the production. Their primary duties include:
- Budget Tracking: Inputting budget information as it becomes available during prep and monitoring expenditures against the "greenlight" number.
- Cost Reporting: Preparing a weekly "cost report" that tracks all financial movements, allowing producers and financiers to understand how the production is proceeding financially.
- Payroll and Bills: Overseeing a large staff of assistants and clerks who handle all financial transactions, including paying bills, payroll, and petty cash.
- Incentive Calculations: Working with department heads to determine how they are doing financially and tracking tax credit calculations for local and international jurisdictions.
The Importance of Accurate Estimation
A great production accountant is a great estimator. They can project costs when given various scenarios—such as an actor's illness or an insurance claim. On a recent production, the accountant projected how far over budget the show would be if shooting very long hours continued, allowing the line producer and UPM to scale back and wrap on budget. This ability to be nimble and solution-oriented is essential to every production.
Managing Foreign Currency and Complexity
When foreign currencies are involved, the production accountant tracks when to buy currency, what the exchange rate is, and how much is needed for each phase of the shoot. They are also responsible for running "shutdown costs" in the event a project must be shut down due to budget issues or other factors—a complicated process that requires an accountant with a solid handle on the production.
The production accountant provides the financial stability that allows the creative team to focus on the magic of filmmaking.