How One Photography Studio Grew Net Profit Margins by 21.6% with Strategic Bookkeeping
Why Your Books Should Tell a Story
Most business owners know the drill: keep the books clean enough to file taxes, and you’re good. Right?
Not quite - especially if you’re trying to make confident, data-backed decisions throughout the year.
We recently wrapped a quarterly CFO report session with a photography studio we've supported for the past year. When we started, their books were functional. Nothing was “wrong,” per se, but their financial reports weren’t helping them run the business. The numbers were technically fine for taxes but lacked insight.
This post breaks down how we helped them restructure their financials and what changed as a result—both in the data and in their confidence.
The Problem: Time-Consuming Data Without Clarity
The studio wasn’t flying blind, but they had to hustle to gather insights. It required a lot of manual effort: cross-checking across 4+ platforms to understand what should have been clearly visible in their books. This extra layer of time and friction meant some trends weren’t visible until months later.
They were previously working with another bookkeeping company, and to be clear, it wasn’t a bad setup. The books were accurate and compliant. But the structure wasn’t designed to give the owner the kind of CFO-level insight they needed to make confident decisions or implement meaningful changes. It was clean, just not strategic.
Our First Move: Restructuring the Chart of Accounts
The starting point was a complete overhaul of their chart of accounts.
Instead of generic categories, we customized their accounts to reflect the operational structure of the studio:
Separated Deposits vs. Sales for better revenue clarity
Optimized COGS accounts to track true driving cost
Clearly segmented operating expenses
Implemented QBO Classes to group activity under big-picture functions like Marketing and Sales.
This shift didn’t just make things tidier, it made the reports more useful and strategic.
Quarterly Review Highlights: What We Found (And Celebrated)
In our most recent quarterly CFO session, we walked through results that were more than just impressive on paper:
📈 17.5% growth in revenue
💰 16.1% increase in gross profit margin
🎯 21.6% growth in net profit margin
But what really mattered wasn’t just the numbers, it was understanding why those changes happened. Together, we unpacked:
What operational shifts had made COGS more efficient
How the lag time between sessions and revenue recognition had evolved
Which operating expenses were optimized (vs. just increasing)
These are the moments that make business even more fun. When you know that the changes you implemented in the business had BIG results.
What This Means for Other Service-Based or Creative Businesses
This studio’s transformation isn’t about a specific industry, it’s about having books structured to match how you think and work.
Here’s what you can apply to your own setup:
1. Stop Settling for Compliance-Only Bookkeeping
“Clean” doesn’t mean useful. If you’re relying on your bookkeeper to just get things ready for taxes, you’re missing a layer of insight that could directly affect growth.
2. Customize Your Chart of Accounts
No more “Miscellaneous Income” or giant expense buckets. The more your categories reflect how your business runs, the easier it is to measure what matters.
3. Use Your Reports to Tell a Story
Quarterly or monthly reports shouldn’t just state facts. They should help you interpret what changed—and whether that change is good or needs attention.
4. Don’t DIY the Strategy Layer
Bookkeeping is the foundation, but pairing it with fractional CFO support gives you that layer of interpretation, pattern recognition, and forward-looking insight.
CFO Support + Bookkeeping That Actually Connects the Dots
What made the difference wasn’t just having clean books, it was having strategically structured data and someone walking through it with them.
As a founder, you’re already making big decisions weekly. The numbers should support those choices, not leave you digging through five platforms or second-guessing your gut.
Financial Strategy Is a Growth Tool, Not a Luxury
When your bookkeeping system is designed to support insight, every business decision gets easier. That’s what we aim for with all our service-based and e-commerce clients, whether you’re a photographer, a coach, or selling across Shopify and Amazon.
Not every business needs fractional CFO support on a regular basis—and that’s totally fine. But knowing that your reports are accurate and set up with you in mind? That’s foundational. It gives you clarity, confidence, and a much stronger base to build everything else on.
If your current setup feels more like a tax checklist than a business tool, let’s change that.
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