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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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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At Protea Financial, we understand that for wineries with multiple vineyard sites, the Profit and Loss (P&L) statement can quickly become a complex web of revenues and expenses. While each vineyard contributes to your overall production, understanding the individual financial performance of each site is crucial for informed decision-making, resource allocation, and ultimately, maximizing profitability. …
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At Protea Financial, we often hear from winery owners who equate strong cash flow with immediate cash on hand. While that’s certainly a component, we believe that a deeper understanding of your financial performance, particularly through the lens of accrual accounting, can actually be a powerful tool to improve your winery’s cash flow management. It…
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At Protea Financial, we understand that the financial landscape for wineries and vineyards can be as varied and nuanced as the wines you produce. While there’s often a desire for a straightforward, one-size-fits-all accounting solution, the reality is that your unique operational complexities might necessitate a more flexible strategy. That’s where a hybrid approach to…
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Unlike cash methods, which only track money when it changes hands, the accrual method records revenue as it’s earned and costs as they’re incurred. This approach mirrors the natural rhythm of wine production, from grape cultivation to bottle aging, by aligning income with related expenditures. For example, imagine selling a 2023 vintage to a distributor…
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