BANDLOOT.COM - from musicians to musicians an app for band accounting

What started as a talk between co-workers at the company ”Earmaster” is now a free tool made by musicians, for musicians: bandloot.com

After a period of arguing with his band over financial confusion, an employee at Earmaster had an idea. An idea that his band – and everyone elses – could benefit from a tool to help keep the bandeconomy easy to handle. So after a talk during lunchbreak, a few co-workers started to develop an online app to keep tracks of the typical band finances. Who owes who, who payed for what, how much is left, etc.

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Managing Your Band Bank Account

So you’ve reached the point of making money from your band’s music and merchandise. Most likely a majority of this money will be poured back into your gas tank or will be put toward new merch items. An initial reaction would be to entrust a member of the band to hold on to any extra money in a personal bank account or in a merch booth money drawer. This method of accounting lacks transparency and can easily cause tension among band members. Even if you don’t have extra funds floating around it’s a good idea to create a bank account that keeps all band money separate of personal funds.

Opening a band bank account can be a sure-fire method of keeping money safe, well accounted for, and organized, but can still cause headaches if not managed properly. Poor organization and money management skills will almost always lead to uncomfortable conversations and cause tension within most bands. To provide some advice to get you started we’ve put together this list of tips for anyone interested in setting up and managing a band bank account. 

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