Are you a wine enthusiast looking to uncork the mysteries of accounting in the wine industry? Whether you’re a seasoned winemaker or just dipping your toes into the vineyard, understanding accrual and cash accounting methods is crucial for keeping your financial grapes in order. Join us as we unravel the complexities of these accounting techniques…
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Unlocking the full potential of your business starts with gaining a clear understanding of your finances. However, managing bookkeeping in-house can be overwhelming and time-consuming for many entrepreneurs. That’s where outsourced bookkeepers come in – offering expert financial clarity and support to help businesses thrive. Following along with the outsourced bookkeeping experts here at Protea…
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As we celebrate the 10th anniversary of Protea Financial, it’s a moment to pause and reflect on the remarkable journey we’ve embarked on. From modest beginnings, we’ve grown into a dependable ally for both businesses and individuals, a journey characterized by dedication, client focus, warmth, and consistency. In this special blog post, we celebrate our…
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In wine accounting, understanding the relationship between income statements and balance sheets is crucial for evaluating the financial health of wineries. These two financial statements are interconnected and provide valuable insights into a winery’s performance and sustainability. Income statements, also known as profit and loss statements, reveal the revenue, expenses, and net income of a…
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Are you ready to take your bookkeeping game to the next level? As technology continues to evolve, so does the world of bookkeeping software. Choosing the right software for your business can make a world of difference in efficiency and accuracy. Let’s explore a few key insights from the professional bookkeepers at Protea Financial on…
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Summary In this episode, Zane Stevens discusses the importance of understanding the cost of products in the wine industry. He highlights the complexity of determining product costs, especially in manufacturing. Zane emphasizes the need for accrual basis accounting to accurately track inventory costs. He explains how accounting can be a service that provides information for…
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