Accounting and Consulting Services for Wineries, Vineyards

winery accountant

We excel in cost allocation for wineries, allowing you to accurately determine the cost of goods sold for each vintage and varietal. We deliver forward-thinking business solutions, taking time to discern your unique business needs and anticipating how they may be impacted by the changing industry. A well-structured chart of accounts will keep your financial reporting clear and accurate.

winery accountant

Valued Industry Perspectives

We keep separate accounts for each type of interest we are paying and title the accounts appropriately. This makes it easier to check that we have posted the correct amount of interest paid year-to-date on each loan. If you organize data in a logical manner, you will be able to see things that would not otherwise be evident.

  • The foundation of any successful business – including wineries – is made up of the numbers that underly everything.
  • The Corporate Transparency Act, signed into law on January 1, 2021, brings changes to anti-money laundering laws and reporting requirements for certain businesses in the US.
  • Our clients aren’t the only industry leaders who look to us for guidance.
  • Then, you must decide how much money is going to be allocated between different departments to run the business and sell the wine.
  • This is unrealistic for most wineries because wine is typically vintage-dated, with older vintages sold before newer ones.
  • For example, if the area dedicated to packaging takes up to 30% of your total facility floor space, you can apportion 30% of your total rent and building insurance to package.

Get the financial oversight your winery needs.

The second step in wine accounting is understanding the cost of goods sold (COGS). COGS includes the cost of the grapes, the cost of production, and the cost of packaging and shipping. All these costs must be considered when calculating your final price per bottle. We specialize in winery accounting serving wineries, allowing us to bring a wealth of industry-specific knowledge and expertise to the table. Our winery CFO services start by building a complete financial plan for your winery, including sales forecasts, production budgets, cash flow plan, and return on investment.

winery accountant

Wine Costing & Inventory Support

Since the wine industry can be fickle, it is essential to make sure you track everything carefully. We will not only help you get the most return on your taxes, but we’ll also be there with you as an ongoing business partner and confidant. Our team at C&D specialize in agriculture accounting and have served wine business owners in Central California and the Napa Valley for years. Our clients range from small boutique vineyards to wineries that sell over 100,000 cases annually.

  • On the other hand, cellar aging costs are typically shared by all wines in the cellar.
  • We are a team of humans who believe accounting is more than just checking boxes and filing receipts.
  • Born and raised in Chelan Valley, she moved back home after college and worked as a part-time bookkeeper and barista, and then co-founded a nonprofit aimed at addressing housing issues in the valley.
  • Reach out to Protea Financial if you need help with your wine accounting or bookkeeping, or even if you aren’t sure what the next step for your business should be.
  • In short, the Expense section of your chart of accounts contains your “GS&A” accounts–that is, your General, Selling, and Administrative expenses.

This method assumes that items flow through inventory in the order they were purchased or produced. Cost for inventory may use several methods to best match the production processes, including the following. These are known as COGS (cost of goods sold) and COGP (cost of goods produced). Protea Financial knows and understands the specific challenges of running a successful winery.

Deep Winery Industry Expertise

However, we’ve only touched the tip of the iceberg when it comes to keeping healthy books for your wine business. If you have more questions, need confirmation, or just want someone to take bookkeeping off of your hands altogether, we’re here to help. Without thoughtful attention to your chart of accounts, your business performance will be nearly impossible to interpret. To make things really simple for you, we’ve created a template chart of accounts that you can use for your winery. The truth is that you have quite a lot of leeway when it comes to how you group your expenses on the COA, however, there are 6-7 main categories that we generally recommend for small wineries. You should consult with your accountant to see how they prefer this section of the chart of accounts to be organized.

winery accountant

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