Why UK film and TV productions choose SmartAccounting
EP's SmartAccounting is the production accounting software built specifically for UK film and television—delivering real-time cost reporting, HMRC compliance and Making Tax Digital (MTD) support in one integrated platform.
Ensure HMRC compliance across your production.
Enjoy peace of mind with built-in Making Tax Digital (MTD) and VAT compliance controls.
- Direct HMRC connection—no manual uploads.
- Streamline compliance and reporting with pre-configured automated VAT codes, intuitive tax code tagging, automatically generated VAT totals and a VAT return preview.
- VAT guardrails prevent manual errors and maintain data integrity.
- SmartAccounting’s VAT reconciliation report identifies discrepancies in your VAT data, streamlining reconciliation.
- Maintain a comprehensive digital audit trail for VAT.
- Seamless integration with HMRC exchange rates and user-defined market-spot rates ensures 360° foreign exchange compliance in your VAT reporting while maintaining consistent budget rates for cost reporting.
Make confident, data-driven decisions.
Get an instant, real-time view of your financial status with SmartAccounting’s dynamic Cost Report Worksheet.
- Track live budget adjustments and EFC changes for up-to-the-minute accuracy and faster decision making.
- Make distribution changes on the fly.
- Dynamic views and filters present data as you need it, in any currency, for efficient tracking, forecasting and global cost reporting.
- Quickly run scenario analyses to inform creative spend decisions using the most accurate financial data.
- Create bespoke report packages to instantly run cost report packs, month-end packs and year-end packs at the click of a button.
Eliminate duplicate data entry.
Real-time syncing with SmartPO +Payables means your AP team can act with greater speed and accuracy.
- Manage POs, invoices and payments together for faster approvals and simple cost oversight.
- Real-time integration between SmartAccounting and SmartPO +Payables streamlines AP entry processes, maximises data integrity and creates robust audit trails.
- Fulfil studio archive requirements with automated digital filing.
- Ensure your cost reports are accurate and audit-ready with instant syncing of your PO balances to SmartAccounting.
- Maintain workflow accuracy and compliance with automatic syncing of your VAT tax codes from PO through to reporting.
- Customise PO creation and approval workflows by role, department, unit location, currency, spend threshold and more.
- Approve POs, invoices and payments instantly with all digital documents automatically attached and available for quick review.
Streamline VAT compliance for funding and sales.
SmartAccounting’s integrated MTD-compliant AR module ensures accuracy while providing complete financial visibility.
- Streamline the complete AR workflow – from invoice creation to payment receipt and reconciliation.
- Maintain an unbroken digital link from invoice creation to VAT reporting in line with MTD requirements.
- Create customer invoices with automatic VAT calculation and validation in line with MTD requirements.
- Automatically generate PDF sales invoices for customers from posted sales transactions.
- Easily reconcile funding and customer payments.
Save time with seamless integration across EP’s Digital Production Studio.
Seamless integration with EP's Digital Production Studio streamlines workflows and saves you time.
- Cloud-based integration with Movie Magic Budgeting lets you import all GL codes and budget amounts from any budget file.
- Import your EP payroll journal with the click of a button—no manual uploads or data entry.
- Instantly import expenses for your productions with CASHét Card, integrated with SmartAccounting and SmartPO +Payables for up-to-date cost management.
SmartAccounting connects all your production finance data in one place.
How SmartAccounting Supports UK Film and TV Productions
Yes. EP's SmartAccounting is built to support the financial management needs of UK film and television productions—from large studio projects to local independent projects. Widely used across the global entertainment industry as the leading cost management solution, SmartAccounting is fully localised for the UK market, with comprehensive support for:
- UK VAT reporting and HMRC compliance.
- End-to-end Making Tax Digital (MTD) for both Accounts Payable and Accounts Receivable.
- International, multi-currency budgeting and cost reporting.
- UK-specific production accounting workflows for both features and HETV.
In addition, UK-based productions benefit from local on-the-ground expertise from experienced product specialists and production accountants, ensuring smooth onboarding and ongoing support throughout your project.
SmartAccounting stands out from other UK production accounting software by combining advanced compliance, integration and highly customisable reporting in one platform, enabling faster workflows, greater accuracy and improved financial visibility. Key differentiators for UK productions include:
- Built-in UK compliance: Built-in VAT and Making Tax Digital (MTD) functionality and controls, ensuring production teams remain compliant with HMRC requirements.
- Customisable, stakeholder-ready reporting: Create tailored cost reports and pre-set report packages for different stakeholders instantly, without manual adjustments.
- Interactive Cost Report Worksheet: An industry-leading, real-time tool which allows production accountants to manage budgets, EFC changes and financial tracking with greater speed and accuracy.
- Seamless integration: SmartAccounting is integrated with EP’s Production Finance Studio, including Movie Magic Budgeting, SmartPO +Payables, Payroll and CASHét Card, streamlining workflows, reconciliation and eliminating double data handling and duplication across systems.
- Granular user permissions and controls: Assign role-specific access and manage permissions with unmatched granularity for full control over sensitive production data.
Yes. SmartAccounting is fully compliant with UK VAT and Making Tax Digital (MTD) requirements, with built-in automation to simplify tax management and reduce risk for film and TV productions. Key VAT features include:
- Automated VAT compliance: Built-in controls help ensure accurate VAT handling in line with HMRC regulations.
- Direct HMRC integration: SmartAccounting maintains a continuous connection to HMRC for streamlined MTD reporting and submissions.
- Pre-configured VAT codes and guardrails: SmartAccounting reduces manual errors with standardised VAT codes and validation checks, including the Reverse Charge and Import VAT.
- Automated VAT codes and reporting: Includes VAT totals, return previews and reconciliation reports aligned with UK tax requirements.
SmartAccounting's Cost Report Worksheet is an interactive, real-time financial management tool designed specifically for film and TV production accountants.
Unlike other UK production accounting solutions, it enables:
- Real-time budget and EFC updates: Instantly reflect budget changes and adjustments without manual rework.
- Live financial visibility: Access up-to-date cost data at any time, improving accuracy and enabling faster decision-making.
- Interactive scenario planning: Quickly model different financial scenarios to respond to changes and control costs more effectively.
- Improved cash flow forecasting: Enable more accurate, dynamic forecasting with up-to-date financial data.
While many UK production accounting solutions rely on static reports and delayed updates, SmartAccounting provides a fully interactive environment that supports real-time financial control, flexibility and precision.
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