At Protea Financial, we understand that running a successful winery involves more than just crafting exceptional wines. It requires efficient management of everything from vineyard operations to sales and financial reporting. That’s why we’re passionate about helping wineries leverage technology to streamline their processes and maximize profitability. Our team of bookkeeping experts are showing key…
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Focus on What You CAN Control – Making Your Customer List Work for You
With so much uncertainty in the world right now – particularly in our industry – it can feel like there is a lot that is beyond your control as a winery owner. And you’re right – you cannot control tariffs, or regional visitation, or rising costs. But one thing you CAN control is your customer…
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Understanding the Relationship Between Your Winery’s Profit & Loss and Balance Sheet
At Protea Financial, we frequently encounter winery owners who excel at the art of winemaking but find the intricacies of financial statements a bit daunting. Yet, understanding the interconnectedness of your Profit & Loss (P&L) statement and Balance Sheet is crucial for informed decision-making and long-term financial stability. These aren’t just separate documents; they’re two…
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Key Components of a Winery Balance Sheet: Assets, Liabilities, and Equity
At Protea Financial, we understand that a strong financial foundation is essential for any successful winery. While the art of winemaking often takes center stage, a clear understanding of your winery’s financial health is equally critical. One of the most important tools for assessing this health is the balance sheet for your business. This document…
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How InnoVint is Transforming Winery Inventory Costing: Reducing Costs & Increasing Efficiency
Running a winery is no small task. Between managing grape harvests, overseeing production, and ensuring bottles make it to market, financial tracking can easily become overwhelming. Many wineries still use spreadsheets or other outdated systems to track costs, inventory, and government paperwork. These manual methods take up valuable time, carry more risk of error and…
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Is Your Wine Inventory Costing Method Compliant with Tax Regulations?
At Protea Financial, we understand that navigating the world of tax regulations can be complex, especially for wineries with unique inventory considerations. One crucial aspect that often raises questions is your wine inventory costing method and its compliance with IRS guidelines. Choosing the correct method isn’t just about accurate accounting; it directly impacts your tax…
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