Accounting

Uncorking Efficiency: How to Optimize Your Winery’s Harvest Accounting Process

At Protea Financial, we recognize that the harvest season represents the most demanding and pivotal time for wineries. The necessity to secure high-quality fruit places considerable pressure on operations, often resulting in accounting procedures being overlooked amidst the urgency.  Nevertheless, implementing an efficient harvest accounting process is vital for ensuring financial accuracy, enabling thorough profitability…
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Accounting for Grape Costs: Purchased vs. Estate-Grown

At Protea Financial, grapes represent the primary ingredient in winemaking and are the largest factor in determining Cost of Goods Sold (COGS). Accurately accounting for these costs involves complex considerations.  The financial approach to grapes varies depending on whether they are purchased from external growers or estate grown. Understanding these differences is important for precise…
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Why Outsourcing Your Winery’s Monthly Close Can Save Time and Money

At Protea Financial, we recognize that for every winery, the monthly close is a non-negotiable financial ritual. It’s the critical process of reconciling accounts, posting accruals, and generating essential financial reports like your Profit & Loss statement and Balance Sheet.  While absolutely vital for accurate financial insights and strategic planning, this process can often consume…
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Uncorking Efficiency: Streamlining Your Winery’s Monthly Close Process

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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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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Using Your P&L to Secure Funding for Your Winery Expansion

At Protea Financial, we understand that the ambition to expand your winery is often fueled by the success reflected in your Profit & Loss (P&L) statement. That document, showcasing your revenues, costs, and ultimately your profitability, is more than just a historical record; it’s a powerful tool that can unlock the funding needed to bring…
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