Struggling to track inventory as it moves through your system? For many wineries, bottled inventory lives in the place where operations software ends and point-of-sale and accounting systems begin. Keep track of it all with our Case Goods feature in Blended!
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Harvest season is a critical period for farms and agricultural businesses, including wineries. It’s the culmination of months of hard work in the vineyard and the beginning of the winemaking process. As you prepare to harvest your grapes, robust accounting practices are essential to ensure financial stability and operational efficiency. Read Effective Accounting Practices for Wineries: https://buff.ly/3yekiQG #accounting #winebusiness
Optimizing Harvest Season: Effective Accounting Practices for Wineries
https://proteafinancial.com
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If you use multiple systems within your drinks business, you'll know what a challenge it can be. You may be spending more time than you'd like on manual data entry, reporting and duplicate tasks. The solution? Consolidating all your data into one single system. That's what we did for wine wholesaler Cassidy Wines - and the impact has been staggering. Click through to find out what a difference it's made - including a 60% reduction in duty-paid loose stock holding: https://lnkd.in/eYe2wDaC #FMCG #FMCGWholesale
Gaina | Cassidy Wines Case Study
gainasoftware.com
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We are often asked, which is the best bookkeeping software for my winery???? We’ll cut to the chase and tell you that unless you are a very small or very large winery, QuickBooks Online will likely be the best option for your winery. However, depending on your preferences, a few other options could also work. Over on YouTube, we're discussing why we prefer QuickBooks Online and what you should look for in bookkeeping software: https://lnkd.in/e5_d2sDR Prefer to read? Check out our blog post here! https://lnkd.in/eSy-u4vp #QBO #wineries #winerybookkeeping
Best bookkeeping software for wineries? ????
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Making the right decision when choosing your business software can be tough. If you're using #QuickBooks to manage your winery and wondering if it's time for something more powerful, this article is for you! We break down the key differences between QuickBooks and Dynamics 365 Business Central so you can see which solution will best support your growth. Whether you're ready to scale or just curious about the next step, check it out! ?? Read the full article here… https://buff.ly/3WBPtO1 #Winery #WineryOperations #WineIndustry #WineProduction #WineBusiness
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Making the right decision when choosing your business software can be tough. If you're using #QuickBooks to manage your winery and wondering if it's time for something more powerful, this article is for you! We break down the key differences between QuickBooks and Dynamics 365 Business Central so you can see which solution will best support your growth. Whether you're ready to scale or just curious about the next step, check it out! ?? Read the full article here… https://buff.ly/3WBPtO1 #Winery #WineryOperations #WineIndustry #WineProduction #WineBusiness
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The beverage distribution industry is set to experience robust growth over the next 5 years, with a projected CAGR of 4.26%, expanding from $3.56 trillion in 2023 to $4.39 trillion by 2028. Key Trends: Health & Wellness : Rising demand for low-sugar, plant-based drinks. Sustainability : Eco-friendly packaging is a priority. Premiumization : Consumers are opting for high-quality, craft beverages. Tech Advancements : Improved logistics and automation. E-commerce : Surge in online beverage sales. Functional Drinks : Popularity of energy drinks and added vitamins. Innovative Flavors : Unique taste experiences. Alcohol-Free Options: Non-alcoholic versions of traditional drinks are on the rise. Join us(Blytheco) and learn how Sage Intacct can help your business pave the way for innovation and growth!
Unlock the potential of your beverage distribution business with Sage Intacct! Sage Intacct offers a comprehensive suite of tools to streamline and enhance financials for beverage distribution. With Sage Intacct, beverage distributors can drive greater efficiency, profitability, and growth. Register today to see how Sage Intacct can help you achieve your business goals. https://ow.ly/JT4Z50SNlAO #BeverageDistribution #SageIntacct #Accounting #Blytheco #BusinessGrowth
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Transforming Numbers into Actionable Insights | Data Driven Approach | Marketing Enthusiastic | Economics & MBA Education | Sommelier & Wine Business Passionate |
Management should make its way into the winery. Bringing in external professionals for specialized functions is key to avoiding hidden inefficiencies. The upfront cost may seem high, but poor management can be far more expensive in the long run. Smart investments today prevent bigger problems tomorrow Bringing in the right skills at the right time isn't just an investment—it's a strategy to avoid costly inefficiencies down the road. #WineryManagement #OperationalExcellence #BusinessStrategy #CostEfficiency #WineIndustry
Empowering Wineries with Smart Tech to Boost Efficiency and Focus on Wine - We cover Europe and the US.
Do You Really Know the True Cost of Your Wines ? Many winery owners have a general sense of their business’s performance, but when it comes to understanding the true cost of producing each bottle, most are in the dark. In fact, it's estimated that over 52% of wineries lack a good understanding of their actual production costs. Knowing your true costs isn’t just about profitability—it’s essential for staying compliant with tax regulations and making timely decisions to steer your business in the right direction. The Cost of Ignorance Profit margins in the wine industry are razor-thin, and the costs of goods produced (COGP) and costs of goods sold (COGS) are complex to track. With fluctuating grape prices, varying labor costs, and high overheads—especially for those still paying off land. What’s Holding Wineries Back? 1?? Complexity of Cost Accounting: Accurately tracking COGP and COGS requires detailed knowledge , meticulous (preferably real-time) record-keeping. Many wineries, particularly small and medium-sized ones, rely on simpler accounting methods that may not capture the full picture. 2?? Inadequate Data Capture and Systems: Many wineries still operate with outdated systems (or excel) that don’t provide the real-time data needed for accurate cost tracking. The lack of technology integration makes it difficult to standardize processes and maintain up-to-date records, which are crucial for accurate cost assessment. 3?? Variability in Production Costs: With grape prices and labor costs fluctuating, and overheads like land payments adding to the mix, wineries face challenges in calculating consistent costs. This variability can lead to discrepancies in pricing and profit margins. How Can Wineries Navigate These Challenges? ???? Start by investing in robust accounting and inventory management software. Tools like GoEkos, Innovint, 360winery, and EzyWines can automate much of the cost tracking process, ensuring that your data is accurate and up-to-date. ?? Standardizing your cost accounting methods, whether you choose activity-based costing (ABC) for more detailed insights or stick with standard or actual cost accounting, can also help. A good and relying accounting firm ,like protea-financial, can give you guidance on how to set it up. ?? But perhaps the most crucial step is adopting a mindset that prioritizes understanding your costs. Regularly update your costs, leverage technology, and don’t shy away from consulting with experienced accounting professionals who can help you navigate the complexities. Contact us or DM us today, and let’s discuss how we can help you digitize your operations to track your costs more effectively.
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Dublin wine wholesaler Cassidy Wines had two problems. The first was the fact that they were using two different systems throughout the business. The second was the use of a generic accounting system that didn't integrate with their databases. Employees were struggling to see accurate live data, and relying on paper-based methods to match things up. With a high risk of human error and the need for a lot of resource, it just wasn't sustainable. The answer? An integration and upgrade project from Gaina. Find out what we did - and the difference it made: https://lnkd.in/e3vJF-N7 #FMCG #FMCGWholesale
Gaina | Cassidy Wines Case Study
gainasoftware.com
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Accounting is the backbone of a successful small business. It not only helps you stay organized and compliant but also provides the insights needed to drive growth and achieve your entrepreneurial dreams. All businesses need help, but it gets extra complex in unique industries like the wine industry. Inventory and, specifically, cost accounting make it tough. You need to find a partner who can help you with these complexities. Here are the key issues wineries have to deal with: ?? Tracking Production Costs: From vineyard to bottle, each stage has its costs. Accurate tracking is crucial for determining the true cost of goods sold (COGS). ?? Allocating Costs: Wineries often produce multiple wines. Properly allocating costs between products ensures correct pricing and financial accuracy. ?? Inventory Valuation: Grapes, wine in progress, and finished goods all need different valuation methods. Accurate inventory valuation is key for financial reporting. ?? Overhead Allocation: Significant overhead costs like equipment and facilities must be allocated correctly to different products and stages. ?? Long Production Cycles: Wine aging ties up capital for long periods. Accounting must account for these cycles, including aging costs and potential losses. Long cycles create complexity because most wineries' costs go over multiple years and tend to have multiple vintages going at the same time. So get specialized help! Find a partner that can successfully support you! Get good accounting help! If you are in the wine business. Get Protea to help! #accountingandaccountants #smallbusiness #winebusiness #wineindustry #outsourcedaccounting
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Inventory costing 101! Let's start with the basics. Together we can explore the Two Primary Inventory Costing Approaches in the Wine Industry. Read more here: https://buff.ly/3UuEXbX #accounting #costaccounting #winebusiness
Exploring the Two Primary Inventory Costing Approaches in the Wine Industry - Protea
https://proteafinancial.com
