At Protea Financial, we know that the rhythm of a winery extends far beyond the seasonal cycles of the vineyard. Every month brings the critical financial cadence of the “monthly close” – a vital process that summarizes your winery’s financial performance and position. While it can sometimes feel like a daunting task, a streamlined and…
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Reconciling Bank Accounts and Credit Card Statements for Your Winery
At Protea Financial, we know that running a successful winery demands meticulous attention to detail, both in the vineyard and in your financial records. While the excitement of new vintages and customer experiences takes center stage, overlooking the seemingly mundane task of reconciling all your bank accounts and credit card statements can lead to significant…
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Key Components of the Monthly Close: Reconciliations, Accruals, and Reporting
Protea Financial helps our clients understand that maintaining a healthy business requires accurate financial insights along with solid sales performance. Monthly closing processes are essential for wineries and other intricate businesses because they function as a thorough examination of financial condition. The monthly close is not just a routine task but a structured procedure to…
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From Grape to Glass: How Technology is Revolutionizing Winemaking
At Protea Financial, we witness daily how the wine industry, while steeped in tradition, is also a beacon of innovation. The journey from grape to glass has always been a blend of art and science, but increasingly, technology is playing a transformative role. We’re not just seeing advancements in the vineyard and cellar; we’re also…
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QuickBooks Enterprise with Hosting: What CPAs and Accountants Need to Know
QuickBooks Enterprise with Hosting: What CPAs and Accountants Need to Know Running the books for a winery isn’t just about balancing accounts—it’s about managing barrels, bottles, batches, and every bit of inventory in between. With partners overseeing operations in the field, distributors coordinating from other cities, and accountants tethered to desktop software, staying connected can…
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The Benefits of Outsourcing P&L Preparation and Analysis
The financial experts at Protea Financial understand that for many business owners, the Profit & Loss (P&L) statement can feel like a necessary but often daunting task. It’s a vital report, summarizing revenues, costs, and ultimate profitability over a period. However, the time and expertise required to prepare it accurately and, more importantly, to analyze…
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