If you run a winery, you already know that accounting here isn’t like accounting anywhere else. Between harvest-cycle inventory, bulk-to-bottle cost tracking, DTC and wholesale channel reporting, and TTB compliance, winery accounting demands a level of industry fluency that generic bookkeeping software and generalist accountants weren’t built for. And yet, for a huge number of…
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A companion guide for wineries ready to move from reactive accounting to strategic financial leadership. Most winery owners know when their accounting isn’t working. But few know what a truly effective accounting partner should look like in the wine industry. Choosing the right partner is not about finding someone who can “do the books” or who is…
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I often get asked, “When should I hire an accountant?” The honest answer, and spoiler alert, is earlier than you think. Accounting mistakes are expensive to rectify, and catching up on months or years of disorganization can be a costly and time-consuming nightmare. So, my advice is simple: hire early. However, if you’re still unsure or have…
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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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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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