Budget and Accounts

As a songwriter/composer and musician, you will typically have what is often referred to as a “patchwork income” - an income made up of multiple revenue streams. That is why it is a good idea to gain a basic understanding of budgeting and accounting, so you can keep a clear and structured overview of your finances.

If you run your activities through a business, you may be required by the Danish Tax Agency to prepare annual accounts.

If you are planning a release, a tour, a marketing campaign, or a fundraising campaign involving project-based finances, this is also knowledge you will need.

There is a wide range of books and websites that can introduce you to the fundamentals of budgeting and accounting. You can also take advantage of the free advisory services and courses offered by local business development centres and the Danish Tax Agency

You may also want to visit The Business Guide, where you can find explanations and definitions of many accounting terms and download budget templates in Excel.

If you need professional assistance with bookkeeping or accounting, you can contact an accountant.