A key aspect and skill in managing a company is the ability to understand financial statements. Because we operate in a competitive business environment, it is important to be able to identify a company’s financial position/health, business trends and risks at an early stage. The ability to analyze your company’s financial statements forms a key…
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Running a successful winery requires you to manage numerous departments—production, processing, sales, and administration, to name a few. Often bookkeeping and accounting are some of the first areas neglected when there’s not enough of you to go around. When you find yourself scrambling at tax time or with a pile of unopened bills, hiring a…
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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…
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Few of us like to think about bookkeeping and accounting. Without it though, you’ll find yourself in the dark about how your winery is performing. Bookkeeping is the backbone of all businesses. To know what’s happening at the most basic financial level, you’ll need to have a great bookkeeping system. Today, learn why bookkeeping is…
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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…
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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 who respond to market changes with the needed urgency will thrive, and wine businesses that…
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