Few accountants set out to start a digital creative services company or product company. For those who do, kudos, your books are likely neat, current and enviable. For the rest of us non-accountants, financial reporting and metrics can feel somewhat like a guessing game. Often, we look to accounting software and Google searches to show us the way, and meet up with our accountant every so often to stay out of trouble. In short, we kind of wing it.

Well, wing it no more.

Financial Literacy for Digital Marketing Firms

If you’re curious how to structure your reports, calculate key metrics and analyze how you’re doing, this encore presentation from our friends at Summit CPA Group is for you. Ever ask yourself…

  • How much money should I have in the bank?

  • Where does owner compensation and benefits fit in?

  • Should I be reporting cash, accrual or tax?

  • What’s the best way to prepare for company growth—or safeguard against mistakes?

  • What are the minimum numbers I need to hit?


Join Summit CPA Group’s Jody Grunden and Sparkbox’s Rob Harr for a deep dive into operations and finance: NYC (Aug. 29–30) or San Francisco (Nov. 4–5). Learn more and register.

Four Financial Focus Areas + Key Metrics

The presentation kicks off with four financial focus areas and a simple structure for your reporting, then shimmies on over to metrics.

  1. Chart of Accounts: Learn how to set up the basis of your financial statement using a simple template.

  2. Cash vs. Accrual vs. Tax: Understand the difference between the three, and find out which one you should be using to know exactly how your month, quarter and year went.

  3. Financial Statement Metrics: Find out what minimums you need to hit in order to exist in the digital world, and what ratios to aim for.

  4. Money in the Bank: Calculate how much money you need based on your firm’s size, needs and wants.

Spoiler alert, the end game is metrics, visibility and gauging where you are versus where you want to be. Find out what percentage of your revenue you should be putting away for operating cash, cash reserves and tax reserve, as well as the target ratio for liquidity.

Meet Jody Grunden, CPA, Virtual CFO et al.


Jody Grunden is a virtual CFO who specializes in finance for creative service companies. CEO and Co-founder of Summit CPA Group, Jody is an industry speaker, published author, steadfast community supporter and master of Hawaiian-shirt style. Jody works with many shops in the Bureau community. Special thanks to Jody for the encore presentation and insights.

This article is for informational purposes only, and doesn't constitute accounting or finance advice.