Accrual Accounting vs. Cash Accounting – What’s the Difference?
The primary difference between these two is the timing of when transactions get recorded.
Accounting
How to Calculate the Cost of Making Wine
[et_pb_section fb_built=”1″ _builder_version=”3.22″][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.7.7″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”] To run a profitable winery, it is vital to understand how much profit you are making per bottle of wine sold. You will need to be able to determine and understand what you can sell your wine for and how […]
Financial Forecasting and Cash Flow Planning
While extremely rewarding, getting a winery up and running can be very difficult to do. Not only does it require a large amount of capital and resources to start with, but you also won’t even start selling wine until a few years down the line. It’s a large investment with a substantial amount of risk […]
How to Grow Your Business Through Accounting Outsourcing
Outsourcing routine tasks is an easy way to simplify and grow your business. Accounting, customer service, and marketing are easy places to start when it comes to outsourcing. None of these tasks are unique to your business but all are necessary for a successful business. Fewer in-house employees and the legal and financial complexities that […]
4 Benefits of Outsourced Accounting For Wineries
Accounting and bookkeeping are the heartbeat of the business side of your winery. Unfortunately, these critical functions are too often overlooked by busy owners. While it’s tempting to take shortcuts, or simply rush through the tasks, that can lead to inaccurate financial statements. That’s why Protea Financial offers outsourced accounting services. While it’s certainly understandable – you have […]
Planning for Price Changes
It is common for small wineries to avoid raising their prices for an extended period of time. This is due to a variety of factors, including a lack of accounting input regarding price-volume trade-offs and management’s desire to preserve customer interest. Alternately, a winery may opt to make price changes based on a gut feeling. […]
Accountant vs Bookkeeper
[et_pb_section fb_built=”1″ _builder_version=”3.22″][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”3.27.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”] As wineries search for growth in today’s digital world, the accountant vs bookkeeper debate has become all the more relevant. Innovation, technology, and eCommerce have made traditional marketing strategies for wineries nearly obsolete. As RaboBank recently highlighted, only those wineries […]
What are the differences between a Bookkeeper, a Management Accountant, and a Tax Accountant?
Many of our clients ask us why we talk about bookkeepers, management accountants, and tax accountants, and not just accountants.
